Restructurings

The company's announcement on Iowa's Worker Adjustment and Retraining Notification, or WARN, website states the Waukee facility will shut down Jan. 10, idling 88 workers.

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.

The facilities, which make a range of paper products, will close in 2025 and the manufacturing site of bathroom wipes at Kimberly-Clark will move to Germany.

UPM Fibres renews its organisation by centralising its production operations in Finland under one top level organisation. The change will simplify the Fibres Business Area structure.

Ingevity Corporation announced additional steps to advance the company's strategic repositioning of its Performance Chemicals segment for sustained improved profitability. Actions include consolidating segment operations at the company's North Charleston, South Carolina, facility by moving oleo chemical refining to the North Charleston site's secondary refinery. This consolidation will include closing its Crossett, Arkansas facility in August.

Montana governor Greg Gianforte and the Montana Department of Labor & Industry (DLI) announced the state secured a nearly $2 million investment to provide workforce retraining and support services for workers impacted by the closures of Pyramid Lumber in Seeley Lake and Roseburg Forest Products in Missoula.

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.

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.

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.

Ahlstrom is simplifying its divisions from five to three: Filtration and Life Sciences, Food and Consumer Packaging, and Protective Materials.

The decision affects 93 employees.

Canfor Corp. is closing its Jackson mill in southern Alabama at the end of June as part of a restructuring of its operations in the state.

Enviva Inc., a leading producer of sustainably sourced wood-based biomass, announced that the U.S. Bankruptcy Court for the Eastern District of Virginia (the "Court") approved, among other matters, its previously announced $500 million debtor-in-possession financing.

Enviva Inc., a producer of wood-based biomass, disclosed the execution of two Restructuring Support Agreements (RSAs) with its creditors, aiming to reduce its debt by approximately $1 billion.

Huhtamaki is planning to consolidate the production footprint in China in the Fiber Foodservice Europe-Asia-Oceania segment and will close its production sites in Tianjin and Shanghai by the end of Q2 2024.

Amcor, a global leader in consumer packaging, has announced a major restructuring plan in response to a significant drop in consumer demand. The company has slashed 2,000 jobs, which equates to 5% of its worldwide workforce, and is in the throes of shutting down nearly 10 factories across the globe.

GreenFirst Forest Products Inc. is pleased to announce that it has successfully completed the previously announced decentralization of its lumber mill and paper mill operations.

Mativ is putting in place a restructuring plan to reduce costs by $40 million by the end of 2026 as it reorganizes its business structure and lays off senior employees.

To maintain its strong position and develop an even more competitive industrial structure over time, Södra Wood is consolidating its sawn timber operations. The aim is to achieve economies of scale by relocating production volumes to Södra Wood's larger production units.

Boise Cascade announced an indefinite curtailment of its lumber production in Chapman, AL. The curtailment will affect approximately 80 positions. The plywood operations at the Chapman location are not part of the curtailment.

The actual demolition will start in early 2024 and the project will run until 2025.

Targeting $1 billion of select asset sales over the next 18 months.

The K3 machine is one of three CRB machines at the Kalamazoo facility and is the company's longest-running machine. K3 ceased operation on July 1 and this announcement reflects the decision to permanently shut down the 125,000-tons per annum machine.

Sappi Europe completed a consultation process on the closure of Stockstadt mill in Germany and agreed on the social plan for the employees. In addition, an agreement has been signed for the sale of the site. The closure of the site should be completed during the first calendar quarter of 2024. Once all closure elements are taken into account, the impact is expected to be cash neutral.