Recent Articles

Reported insider trading since the last issue of PaperMoney.

After 14 years as president and chief executive officer (CEO) of Tolko, and over 40 years with the company founded by his grandfather Harold, Brad Thorlakson has transitioned to the role of executive chair of the board. Further to Brad's transition, Pino Pucci has assumed the role of president and CEO.

Huhtamaki has decided to consolidate its three Flexible Packaging manufacturing sites in the United Arab Emirates, keeping one factory in Jebel Ali and expanding the one in Ras Al Khaimah. The transition will gradually take place during the second half of 2024.

Irving Pulp & Paper, Limited has submitted a preliminary application to undertake a major upgrade to Saint John's westside pulp mill, representing a new long-term capital improvement plan and a potential $1.1-billion investment.

UPM Communication Papers plans to permanently close its Hürth newsprint mill and to shut down one fine paper machine at Nordland Papier (PM 3) in Dörpen, both assets located in Germany.

Progroup takes over site of Sappi Stockstadt GMBH in Germany. The current plan is for a state-of-the-art plant for sustainable production of containerboard to be operating by the end of the decade, creating roughly 200 jobs.

Gov. Brian Kemp announced a company that makes baby diapers and other items will be investing $418 million to expand its footprint in Bibb County and create 600 new jobs.

Suzano SA, the world's largest producer of pulp, is in talks with banks including Mizuho Financial Group, Nomura Holdings Inc. and Mitsubishi UFJ Financial Group on the financing of a potential bid for US packaging giant International Paper Co., according to people familiar with the matter.

Paper Excellence Canada announced that it has reached a settlement with the Province of Nova Scotia, Canada, that acknowledges plans to transform and reopen Northern Pulp Nova Scotia in Pictou will not proceed and provides for a review process agreed between the Northern Pulp group and the Province of Nova Scotia that is aimed to determine whether a new, modern mill in Nova Scotia is viable. The agreement also provides for the settlement of outstanding litigation and loans between the two parties and fully addresses the pensions of former mill employees.

International Paper ("IP") announced that Jamie A. Beggs and Scott A. Tozier have been elected to IP's Board of Directors, effective May 21, 2024. The company also announced that Ilene S. Gordon has retired from the Board citing personal and health reasons, effective May 21, 2024.

The plan is for DuPont to turn its electronics and water businesses into their own companies in a transaction that is tax-free to shareholders. The new companies are unnamed as of now.

Mondi is investing €200 million into a high-quality recycled containerboard machine with an annual capacity of around 420,000 tonnes at its Duino mill near Trieste, acquired in January 2023.

Brazilian pulpmaker Suzano confirmed it is interested in assets owned by International Paper, but said that it has not reached any final decision about a deal.

Graphic Packaging expects to close its Randleman operations around July 9, according to paperwork filed with the N.C. Department of Commerce.

All of the employees were able to escape unharmed. The fire is believed to be electrical in nature.

Brazilian pulp and paper company Suzano has been in talks with its advisers about sweetening its $15 billion acquisition offer for International Paper, people familiar with the matter said on Monday.

Billerud's Board of Directors has decided to not proceed with plans to convert its Escanaba mill to cartonboard production. Instead, the company will target to shift its product mix gradually towards packaging materials in North America with a moderate investment level.

Arauco Group has invested in the Internal Resin Injection System for their plant in Trupan, Chile. Sunds Fibertech will deliver a complete resin dosing and injection system, including automation and start-up. The start-up will be done in Q4, 2024.

The decision to delay the conversion follows a recent study, which indicated that the current availability of recycled containerboard in Europe is sufficient to meet market demands.

UPM Raflatac and the Paper Workers' Union have reached an outcome in the collective labour agreement negotiations concerning UPM Raflatac's Tampere factory in Finland.

UPM Pulp, UPM Communication Papers and the Paper Workers' Union have successfully negotiated new collective labour agreements for UPM's Finnish pulp and printing paper mills. The new contracts, set for a two-year period, will take effect pending approval from the Paper Workers' Union's Board on 5 June 2024.

SCA has recruited Per Funkquist as new Vice President Sustainability. Per Funkquist has extensive and solid experience in the forestry industry and will take up his new position on September 1, 2024.

SCA has recruited Per Funkquist as new Vice President Sustainability. Per Funkquist, who holds a degree in forestry from SLU - the Swedish University of Agricultural Sciences, is joining from a role as Director of Communication and Sustainability Procurement & Wood Supply at another forest industry company.

I have been doing some research for a paper to be presented at a private client conference, so I will be a bit circumspect here, but the bottom line is this--pulp and paper companies will have no choice but to become larger. This is not driven by demand, but by necessary economies of scale.

The PM40 closed Friday, 31 May 2024, at 5751.

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