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The PM40 closed Friday, 13 December 2024, at 5888.

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 December 2024 up 12% from the 15 December 2023 level.

In this issue of Disconnected Comparisons, we evaluate Universal Forest Products and Graphic Packaging.

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 Erling Sven Lorentzen, who was inducted into the Hall of Fame in 2012.

Mikael Mäkinen, Chair of the Board of Directors, and Jaakko Eskola, Vice-Chair of the Board of Directors, have informed Valmet's Nomination Board that they will not be available in the election of the Board of Directors in the next Annual General Meeting.

The delivery will take place during the mill's annual shutdown in the fourth quarter of 2025.

DS Smith's Reading, PA recycling infrastructure supports a circular system in the U.S., as American Forest & Paper Association trends point to increasing recycling rates over past years.

The Board of Directors of Stora Enso Oyj has resolved to establish two new share-based incentive plans for the key employees of the Group and its subsidiaries. Stora Enso's goal is to offer remuneration that motivates, encourages, attracts, and retains top-tier employees. The Group carefully aligns remuneration elements with its strategy and long-term financial interests.

Suzano has unlocked roughly R$76 million in new opportunities while aligning sustainability with profitability.

Trex Company, the world's leading manufacturer of wood-alternative decking and residential railing, has joined forces with Weyerhaeuser, a global leader in sustainable forestry and one of the largest manufacturers of wood products in North America, to significantly expand Trex's presence across the Southwest region.

Two of the country's largest pulp and paper unions, Unifor and the Public and Private Workers of Canada (PPWC), have selected Kruger, Inc. in Kamloops, B.C. as the target to establish pattern bargaining across the forestry sector in Western Canada.

The expansion works at the industrial complex located in the state of Durango include a new impregnation center and a melanin line, which will supply value-added products to the subsidiary's eight plants in Mexico, the United States and Canada.

Swedish pulp and paper company Billerud announced it's investing in upgrades worth 1.4 billion Swedish kronor, about $127 million, at its U.S.-based production facilities. The majority, worth about $109 million, will go toward its graphic paper mill in Escanaba, Michigan, where earlier this year the company canceled a project to convert the plant into a cartonboard production facility.

The investment at the Crossett mill will add 50 new jobs and will increase converting capacity for high quality bath tissue, including Georgia-Pacific's valued Angel Soft® brand. Initial production from this investment is expected in 2026. By the end of this project, Georgia-Pacific will have invested more than $250 million at Crossett since 2019.

Green Bay Packaging Inc. on Wednesday announced a multi-year investment to modernize its 59-year-old pulp and containerboard mill about 40 miles northwest of Little Rock, Arkansas.

Ahlstrom, a global leader in fiber-based specialty materials, has acquired ErtelAlsop, a New York based manufacturer of high-performance liquid depth filter media serving end-markets in the pharmaceutical, food & beverage, flavors and fragrances, and chemical industries.

The deal represents a 32.4% premium to Pactiv's closing price on Dec. 2, a day before it was first reported that Novolex was considering purchasing the company.

After concluding this transaction, Canfor owns 77% of VIDA AB.

The background is that the former main shareholder, Chinese Shanying International Holding, wanted to sell its holding in Nordic Paper and therefore presented SVP as a buyer.

The sale comprises Orora Packaging Solutions (OPS), which has almost 70 distribution and manufacturing facilities, and approximately 3,000 employees.

Veritiv Operating Company, a leader in specialty packaging distribution, announced today that it has signed a definitive purchase agreement to sell Veritiv Containers, the company's rigid packaging business (formerly All American Containers) to TricorBraun.

Kruger Products Inc., a company in which KP Tissue Inc. holds an equity interest, announced that, after successfully starting-up its new tissue plant in Sherbrooke, Quebec, it is evaluating advancing the construction of its next tissue plant in response to increased market competition in the fast-growing ultra-premium segment.

Enviva, LLC, a leading producer of industrial wood pellets, announced its successful emergence from Chapter 11 bankruptcy protection, marking a significant milestone in the Company's strategic transformation.

Billerud, who bought the facility when it was first closed, still owns it but has sold the idle areas to the Capital Recovery Group. That's where the demolition comes into play.

As 11 civil society organizations, we call on decision-makers within the U.S. and Canadian governments to fully investigate this development and its implications to the forest industry writ large; we urge the European Commission to reject the proposed concentration of the two companies; we urge the Forest Stewardship Council (FSC) to revoke Domtar's FSC certifications and we urge Domtar's current purchasers not to renew contracts with the company.

SBTi approval reaffirms Lecta's commitment to decarbonization and climate change mitigation.

Metsä Group introduces voluntary nature compensation measures in its environmental deviations. Part of regenerative forestry, nature compensation overcompensates the harm to nature resulting from any legal violations.

New Democrat MP Charlie Angus said he wants the committee to hear from Wijaya as well as Canadian government officials who said there was no connection between Asia Pulp and Paper and Paper Excellence, which was recently rebranded as Domtar.

Town officials confirmed Tuesday afternoon, Dec. 10, that a malfunction at the mill resulted in a release of spent black liquor which caused precipitation of brown or tan colored snow.

Visy partnered with two solar energy companies on the initiative, which aligns with Visy's ongoing commitment to sustainability.

There was an open area fire on Friday afternoon, Savannah Fire Department confirmed.

Temporary shut down over the Christmas holidays due to imbalance in global newsprint demand.

Multiple emergency crews responded to a building fire located at International Paper in Conklin on Wednesday, Dec. 11.

The Scottish Fire and Rescue Service (SFRS) said 13 crews and two specialist appliances were sent to the fire at the Sapphire Paper Mill in Leslie at about 05:15 on Tuesday, Dec. 10.

The fire department said a piece of machinery at the facility may have started the fire.

Firefighters say there were no injuries and the fire only caused minimal damage to the baghouse equipment.

Twelve units and 60 firefighters were able to bring the fire under control just after 8 p.m., said the FDNY. EMS units were also on scene.

Irving Paper will once again shut down 50 per cent of its operations beginning Monday December 2nd in response to NB Power's record high industrial electricity rates, and remain down for at least a week.

Officials say no injuries or fatalities were reported.

The negotiations involved a total of 1,100 employees at the Joutseno, Kaskinen, Kemi, Kyro, Tampere, Simpele and Äänekoski mills.

The statutory negotiations at the Suolahti mill concerned all the plywood mill's employees, in total about 370 people.

Communications Advisor for Tolko Chris Downey said this temporary downtime is due to high fibre costs, poor weather conditions during the harvesting season, and the weak North American lumber and plywood markets.

Approximately 1,600 employees were included in the scope of the change negotiations. As a result of the negotiations, a reduction of a maximum of 88 positions will take place.