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The PM40 closed Friday, 17 January 2025, at 5786.

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 17 January 2025 up 10.1% from the 19 January 2024 level.

In this issue of Disconnected Comparisons, we evaluate Avery Dennison and Smurfit Westrock .

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.

Do you think fires are a major problem in pulp and paper mills?

ANDRITZ supplied and recently commissioned two new refining and cottonizing lines for Van Robaeys, France.

Andritz has inaugurated a new technical center in Montbonnot, France.

Kadant Black Clawson LLC, a subsidiary of Kadant Inc., was awarded an order from Papel San Francisco to supply a complete stock preparation and deinking line for its Mexicali, Mexico facility. This is the second fiber processing system purchased by Papel San Francisco from Kadant Black Clawson for the site.

Kadant Black Clawson, a subsidiary of Kadant Inc., announced the promotion of Kenny Leathers to president. In this capacity, Mr. Leathers is responsible for the company's operations in Lebanon, Ohio which include sales and marketing, R&D, manufacturing, and customer service.

Valmet is launching a new long-lasting rubber roll cover to better serve its customers in the textile industry.

The startup is planned for 2027.

Amcor, a global leader in developing and producing responsible packaging solutions, has again been included in the Dow Jones Sustainability Indices (DJSI): Australia Index (DJSI Australia), recognized for its commitment to environmental, social and governance sustainability performance. Amcor ranked within the top 12% of the packaging and containers industry, reaffirming its leadership position in the sector.

Single strip design improves customer efficiency

Monadnock Paper Mills, Inc., the oldest continuously operating paper mill in the United States, proudly announces its achievement of Platinum status in the EcoVadis Corporate Social Responsibility (CSR) assessment. This distinction places Monadnock among the top 1% of over 90,000 companies assessed globally - underscoring its legacy of sustainability and leadership in responsible craftsmanship.

Mondi's award-winning products include a paper bag without free film, TopLockBox, Eco-Cage and Bumperpac - serving customers in the eCommerce, industrial and consumer industries.

Södra's strong financial position leads to credit rating upgrade Nordic Credit Rating has now assigned Södra a credit rating of BBB+.

Smurfit Westrock has produced a 100% paper-based alternative to the polyethylene stretch wrap which is commonly used to stabilise pallet loads in transportation.

UPM Raflatac, a global supplier of self-adhesive paper and film products, reports that all manufacturing of their Direct Thermal laminate products in North America will no longer rely on Bisphenol-A (BPA) and Bisphenol-S (BPS) direct thermal developers.

UPM Raflatac is pleased to announce a new partnership with Highlands to boost the sales of UPM Raflatac Office Products in the United Kingdom. Highlands will support the growth ambitions for UPM Raflatac's sticky notes business under the brands inFO Notes and UPM Notes.

UPM Raflatac is excited to announce the launch of its new swatchbooks for wine, spirits, beverage and premium labeling. The swatchbooks, available in a compact and larger-scale format in the EMEIA market, allow printers, brands and designers to assess the texture, color and esthetics of a wide portfolio of high-quality label materials.

SCA will increase the price on NBSK pulp (Northern Bleached Softwood Kraft) in Europe by 50 USD per tonne. The new price will be effective February 1st.

Tariffs on building materials like softwood lumber, gypsum, and steel are increasing construction costs, driving up home prices and harming housing affordability.

President-elect Donald Trump's threat to impose a 25% tariff on Canadian imports could significantly disrupt the U.S. lumber supply chain, according to Rajan Parajuli, an associate professor of forest economics and policy at NC State University.

BlueLinx Holdings Inc., a leading U.S. wholesale distributor of building products, and Louisiana-Pacific Corporation (LP Building Solutions), a leading manufacturer of engineered wood building products, are pleased to announce the expansion of their distribution partnership.

Chasm Advanced Materials, Inc. (CHASM) and Mativ Holdings (Mativ), manufacturer of Argotec interlayer films for high-performance glazing, have announced an exclusive licensing agreement. CHASM's AgeNT® Silver Nanowire (AgNW) and Carbon Nanotube (CNT) hybrid performance film technology will be licensed to Mativ for transparent heating solutions in advanced glass and window applications across architectural, military, and transportation segments.

Mercer Celgar partners with Skemxist Solutions, an Osoyoos Indian Band (OIB) company, to jointly operate a log sort yard in Okanagan Falls, British Columbia, Canada.

Mercer International Inc. and Danish tech company Dralle announced the successful certification of their joint project tScale. The innovative AI-based measurement portal has received the renowned seal of the Physikalisch-Technische Bundesanstalt (PTB), Germany's national quality mark for precision measurements.

State Attorney General Jeff Jackson visited Canton on Thursday to renew the state's demand that Pactiv Evergreen repay the $12 million in economic incentives it received for creating jobs at the now-shuttered paper mill.

The biofuel plant will be upgraded and a new pellet factory will be built.

International Paper, which owns the nation's largest cardboard recycling mill in Cedar Rapids, will be building a $260 million facility in Waterloo near the city's airport.

Lindenmeyr Munroe plans to expand operations into the Florida market with a Tampa-based distribution facility.

The Day Street Mill operated for 122 years before being shutdown in 2023. Now, Georgia-Pacific is deciding what to do next with the supercentenarian property.

Transaction Represents 96th Acquisition for Leading Distributor of Foodservice Packaging and Janitorial Sanitation Products.

Interfor announced that it has completed the previously announced divestiture of its operations in Québec, Canada to Les Chantiers de Chibougamau Ltée.

Kimberly-Clark Corp.'s potential sale of its international tissue business has attracted interest from companies including Royal Golden Eagle Pte, Brazil's Suzano SA and Asia Pulp & Paper Co., according to people familiar with the situation.

Nordic Paper has entered into a new financing agreement as change-of-control provisions of the previous financing agreement were triggered when Strategic Value Partners, LLC, through Coniferous Bidco AB, reached a controlling shareholding in Nordic Paper in December 2024.

Södra has decided to divest its forest holdings and related activities in the Baltics as part of its strategy to focus on members' forests and maximize value for these estates. The decision involves approximately 153 thousand hectares of land, mainly located in Latvia, with the remainder in Estonia.

C&L was founded in 1975 and acquired by Henry and Blythe Bowman in 1996. When acquired, C&L had 10 employees and revenue of less than $1 million. Under Henry's leadership, C&L expanded its operations, adding machinery and other facilities. Today, C&L employs approximately 115 people and serves customers within a 150-mile radius.

The business provides engineering, supply chain, kitting and assembly, automation, digital and logistics solutions that help customers reduce total costs, improve their sustainability footprint, mitigate risk, and grow sales.

Finch Paper announced the promotion of Drew Gardner as Chief Executive Officer, effective February 1, 2025. Drew succeeds Debabrata Mukherjee, who has led the company since 2013 and will continue his service to Finch Paper as Chairman of the Board.

Huhtamaki appoints Ralf K. Wunderlich (58) as President and CEO effective on January 15, 2025 when the Company's current President and CEO Charles Héaulmé steps down. Charles will be available as needed to secure smooth transition until July 2025.

These measures involve change negotiations affecting approximately 360 employees, with up to 215 potential job reductions.

Jerry Cheatham, a 36-year finance leader within Sonoco, has been named interim Chief Financial Officer, replacing Chief Financial Officer Rob Dillard, who has departed the Company.

Antalis, a paper and industrial packaging company, has reengineered a customer's shipping cartons, achieving a significant reduction in both packaging materials used and carbon dioxide (CO₂) emissions.

Greenville Distribution is the first Atlantic distribution-only facility to obtain a TRUE Zero Waste certification, with a waste diversion rate of 93.9% over the last 12 months.

Canada commits over $900,000 to Integrity Reforestation for a reforestation project planting 800,000 trees across 450 hectares in Ontario's Ogoki Forest to restore wildfire-impacted ecosystems and caribou habitats. This investment was announced by Jonathan Wilkinson, Canada's Minister of Energy and Natural Resources.

Goose Harbour Lake Wind Farm will support Port Hawkesbury Paper's energy needs and Nova Scotia's clean power transition.

Pactiv Evergreen's molded fiber egg cartons and filler flats have been certified by the Forest Stewardship Council® (FSC®) as being made from 100 percent recycled materials. This significant milestone reinforces the Company's purpose of Packaging a Better Future by protecting the planet's natural resources.

The Gävle Norra wind farm is intended to accommodate a maximum of 12 wind turbines, each with an expected installed capacity of approximately 10 megawatts. The aim is to increase energy supply from renewable energy sources.

Boise Cascade announced Jeff Strom will become its new chief operating officer (COO), effective January 20, 2025. This new role will oversee the operations for its Wood Products and Building Materials Distribution (BMD) divisions.

Employees' last days at the facility will be in March, according to the worker adjustment and retraining notification filing.

Kendrick McBride, Casey Redwine and Brent Siegel have been named plant managers at three Roseburg Forest Products mills.

Smurfit Westrock plc has reported a forthcoming change in its executive leadership. Jairo Lorenzatto, the President and Chief Executive Officer for the LATAM region, is set to step down from his role at the end of January for personal reasons. The company announced in a recent filing with the U.S. Securities and Exchange Commission that Alvaro Henao will succeed Lorenzatto as of February 1, 2025.