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The PM40 closed Friday, 13 September 2024, at 5737.

Get the latest PM40 updates by listening to the weekly Nips show and the PM40 Daily Show on Pulp & Paper Radio International.

The PM40 closed 13 September 2024 up 13.1% from the 15 September 2023 level.

In this issue of Disconnected Comparisons, we evaluate Sappi and Weyerhaeuser.

Reported insider trading since the last issue of PaperMoney.

Ladies and gentlemen, the first class of inductees to the Paper Industry International Hall of Fame in Appleton, Wisconsin was inducted more than two decades ago in 1995, and today, more than 150 papermaking innovators and legends have been enshrined. This month, we profile the late Alf de Ruvo, who was inducted into the Hall of Fame in 2015.

Mechanical defibrated cellulose nanofiber (CNF) paper from Japanese paper manufacturer Kami Shoji , Ltd. features superior strength and elasticity.

The acquisition complements Andritz's capabilities by adding the core pulp quality analyzers and measurements into the group's automation and digitalization portfolio.

The installation of the new DD-Washer is a key upgrade to the mill's high-kappa brown stock washing line.

Start-up is scheduled for the fourth quarter of 2024.

EPIQ Machinery, a world-class equipment manufacturer, continues its rapid growth. The company is to acquire the mining and metals activities of Alizent Canada and Alizent USA. Following this upcoming acquisition, a new entity will be created: EPIQ DIGITAL.

Valmet has opened a new service center in Beihai to serve and be close to its customers in the fast-growing pulp and paper industry in the Guangxi Zhuang Autonomous Region, West China. The center is a vital service point for Valmet's customers across China. The inauguration ceremony was held on September 3rd, 2024, and was attended by customers, industry associations, trade press, local authorities, and Valmet's management.

The estimated number of permanent employee reductions is approximately 200 positions.

Specially designed for ticketing applications.

Tork, an Essity brand and the global leader in professional hygiene, launched the findings of new global research on the public restroom experience.

As a global leader in comprehensive solutions, Sappi delivers renewable, premium-quality products that converters, printers, brand owners as well as label and packaging designers worldwide have come to rely on.

UPM Raflatac, a global supplier of innovative and sustainable self-adhesive paper and film products, has recently earned APR Design® for Recyclability Recognition for its clear and white polypropylene (PP) labels with hotmelt, UPM Raflatac SmartCircleTM wash-off adhesive, and general-purpose acrylic adhesives.

Demand for sustainable packaging continues to experience rapid growth. These co-creation projects are leading to recyclable, fibre-based breakthroughs that support packaging sustainability goals and fit with the aspirations of the upcoming EU Packaging and Packaging Waste Regulation.

UPM Specialty Papers continues to work with partners from across the food packaging value network, co-creating transformative solutions that offer unique and innovative solutions that meet the specific requirements of brand owners and converters.

The company said that during July, severe weather conditions led to modestly reduced production at two paperboard manufacturing facilities. In August, an electrical substation was damaged at a third facility, resulting in additional disruption, lost production, and restart costs.

The company insists that this increase is driven by market dynamics, cost inflation, and other economic drivers.

Dart Container Corporation, a leading foodservice packaging manufacturer, and PulPac announce a strategic partnership. Supported by PulPac's North American sales agent Seismic Solutions, Dart has become a PulPac licensee and is installing the first Dry Molded Fiber production line of its kind in North America: the PulPac Scala.

A British Columbia First Nations leader says the province must rethink its approach to the forest industry in light of Canfor Corp.'s decision to shutter two sawmills and leave 500 workers without jobs.

The American Paper Plate Coalition ("APPC"), representing the majority of American paper plate production, announced that the U.S. Department of Commerce (Commerce) has made preliminary affirmative findings in the antidumping (AD) duty portion of investigations involving paper plate imports from China, Vietnam and Thailand, and imposed preliminary AD duties up to 1039.05 percent.

A devastating fire that began at a lumber processing mill in Weed, California, has led to a significant lawsuit filed by local residents against the mill's operators. On July 10, 2024, plaintiffs Ashley Navarre, Michael Navarre, Justis Navarre (through guardian ad litem Ashley Navarre), and Jacalyn Navarre (through guardian ad litem Ashley Navarre) filed a complaint in the Superior Court of California, County of San Francisco, against Roseburg Forest Products Co., Benjamin Hornsby, Jeffery Lee, and other unnamed defendants.

The United Steelworkers union is calling Canfor Corp.'s decision to shutter two northern British Columbia sawmills a "kick in the gut" for workers who will lose their jobs, calling for the company to lose its forest tenure rights in the province.

Kruger Inc. announced a $32.4 million investment at its Kamloops Pulp Mill to implement innovative technology to diversify its product portfolio and expand into fast growing markets. In addition to improving Kruger Kamloops' competitiveness, performance, and environmental footprint, this initiative will contribute to securing 340 jobs at the Mill, as well as 1,000 indirect jobs in B.C.

Menasha Packaging, a leading provider of innovative packaging solutions, announces a groundbreaking investment in its North American preprint capabilities. With a commitment of over $50 million, Menasha is poised to revolutionize the preprinted graphic packaging space.

Containerboard production at Norske Skog Golbey in France is expected to start during the first quarter of 2025, previously the second half of 2024.

The $250 million investment project in the Duluth mill will include approximately 600,000 square feet expansion. The redevelopment includes four building additions to expand manufacturing, packaging, warehousing and shipping.

International Paper announced that it has filed with the U.S. Securities and Exchange Commission (the "SEC") a definitive proxy statement on Schedule 14A (including any amendments and supplements thereto, the "Definitive Proxy Statement") in connection with its pending acquisition of DS Smith Plc (LSE: DSS, "DS Smith") (the "Combination").

If it pans out, it could eventually lead to 600 or more direct jobs in the region, he says.

As indicated in its September 4 announcement of the closure of the Plateau and Fort St. John operations, Canfor Corporation remains committed to exploring opportunities to divest some of its northern BC tenure to support other BC manufacturers who are facing similar challenges accessing economic fibre to support their operations.

Canfor Corporation announced the completion of the subdivision and sale of its Forest License in the Mackenzie Timber Supply Area (TSA) equally to the McLeod Lake Indian Band and the Tsay Keh Dene Nation.

The purchase represents efforts to reclaim stewardship over their traditional territories.

Novolex purchases longtime supplier of twisted-paper handles to integrate into Duro Bag operations.

Rengo Co., Ltd. announces that its consolidated subsidiary, Tri-Wall Limited, has acquired a 25% equity interest in Concept Packaging Group LLC, through Tri-Wall's wholly owned subsidiary.

Veritiv, a leader in specialty packaging distribution, announced it has entered into a binding agreement with Orora to acquire the North American packaging and distribution business Orora Packaging Solutions (OPS). This strategic acquisition will further position Veritiv as a leading provider of value-added products and solutions in specialty packaging distribution in North America.

Ahlstrom, the global leader in masking and packaging tape base papers, has initiated a feasibility study for investing in tape base paper saturation and release coating capability. The feasibility study evaluates the most suitable approach to deliver these capabilities, and the final decision is expected to be made shortly after the study is completed.

Fred Stephan, previously President, Amcor Flexibles North America, has been appointed to the newly introduced role of Chief Operating Officer.

Amcor, a global leader in developing and producing responsible packaging solutions, announced that its Board of Directors has appointed Peter Konieczny as Chief Executive Officer (CEO). Mr. Konieczny has served as Interim CEO since April 2024. The Board also intends to nominate him as a director for election at the Company's Annual Meeting of Shareholders which is expected to be held in November 2024.

Greif, Inc., a global leader in industrial packaging products and services, announced the opening of its new facility in Pasir Gudang, Johor, Malaysia. This significant milestone marks a new chapter in Greif's commitment to delivering high-quality packaging solutions while contributing to the local economy.

The Memphis-based paper maker on Tuesday said that Silvernail, who joined the company to take over the top job in May from Mark Sutton, will succeed Sutton this time around as well.

Citing market and economic conditions, Paper Excellence is confirming they will not be proceeding with plans to restart the Prince Albert pulp mill. According to a statement Thursday night, they will instead explore options to divest the mill.

Stora Enso has appointed Pasi Kyckling as acting CFO until Niclas Rosenlew starts in his position as new CFO. Pasi will hold the role of acting CFO from 1 November 2024 until Niclas joins Stora Enso, at the latest in January 2025. As announced in May, Stora Enso's current CFO Seppo Parvi will assume a role with a company outside of the forest industry.

Georgia-Pacific announced it is modifying lumber operations at two of its lumber facilities located in Camden and Prosperity, South Carolina. Over the next couple of months, these sites will be discontinuing lumber production from logs while maintaining plywood core sawing operations. The modification will not have an impact on Georgia-Pacific's plywood facilities located within the same complexes as these lumber operations.

Sonoco Products Company, a global leader in high-value sustainable packaging, today announced that it has initiated a review of strategic alternatives for the Company's Thermoformed & Flexible Packaging ("TFP") business, a part of the Company's Consumer Packaging segment. Exploring alternatives for the TFP business is expected to accelerate Sonoco's portfolio simplification strategy, improve pro forma leverage and further increase shareholder value.

Cascades Inc. welcomes the report published by Recyc-Québec and Circle Economy and urges businesses and consumers to embrace the circular economy.

Hygiene and health company Essity's targets to reach net zero greenhouse gas emissions by 2050 have been validated by Science Based Targets initiative (SBTi). The validation applies to all near- and long-term targets in Scope 1, 2, and 3. The roadmap has been developed as part of the U.N. Global Compact's "Business Ambition for 1.5°C".

Finnish forestry companies will work with the government to protect wildlife and avoid a repeat of an incident in August when endangered river pearl mussels were crushed by forestry machines, Environment Minister Kai Mykkanen said.

International Paper (IP) reaffirms its dedication to conserving forest ecosystems, nature and biodiversity with a $15.3 million investment to renew strategic alliances with key conservation partners, including the American Forest Foundation (AFF), National Fish and Wildlife Foundation (NFWF), The Nature Conservancy (TNC) and World Wildlife Fund (WWF). These collaborations are pivotal to IP's business strategy and Vision 2030 goal to conserve and restore 1 million acres of ecologically significant forestland.

LP Building Solutions (LP), a leading manufacturer of high-performance building products, announced that the entirety of its LP®SmartSide®Trim & Siding product portfolio is now officially designated as carbon negative, reinforcing the product line's established reputation for resilience, performance and environmental responsibility.

Soilfood, a Nordic circular economy company, studies the utilisation of fibrous side streams from Metsä Board's mills and has identified a new use as raw material in animal bedding. Increasing the added value of secondary products made from side streams is a circular economy where raw materials are kept in use as long as possible.

Rayonier Inc. has released its 2023 Sustainability Report, which highlights the actions the company is taking to enhance the long-term sustainability of its land resources as well as the long-term well-being of its investors, employees, communities, and other stakeholders. This report illustrates Rayonier's ongoing commitment to transparency around Environmental, Social, and Governance (ESG) factors and how they are incorporated into its strategic and operational decision-making.

Canfor will indefinitely curtail one shift at its Darlington facility in South Carolina, and reduce operating hours at its Estill, South Carolina and Moultrie, Georgia locations.

OPFD officials said that a conveyor belt carrying wood chips caught on fire.

Crews were able to contain the blaze before it got out of the building.

The negotiations covered the entire workforce of these two sawmills, a total of approximately 70 people in Lappeenranta and 100 in Vilppula.

Joining Roseburg later this month, Hamill and Karuppuswamy bring a combined 50 years of operations and HR expertise to Roseburg's leadership team as the company moves forward with its ambitious capital projects program and new product lines.

Ulla Nurminen has been appointed Metsä Group's Group Treasurer as of 1 October 2024. She will transfer from the role of VP, Cash Management & Treasury Support. Before that Nurminen has worked in various positions at Metsä Group Treasury and Nordea.

Falah Hadi, 32, was identified as the worker killed Tuesday at Menasha Packaging in Alsip as he guided a semi-trailer into a loading dock.