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The PM40 closed Friday, 11 February 2022, at 4256.

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 11 February 2022 up 18.7% from the 12 February 2021 level.

In this issue of Disconnected Comparisons, we evaluate 3M and Clearwater Paper.

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, close to 150 papermaking innovators and legends have been enshrined. This month, we profile Dick Reese, who was inducted into the Hall of Fame in 2021.

Andritz has successfully started up the new Andritz A-ConApex cooking system supplied to the Altri Group's Celbi eucalyptus pulp mill in Leirosa, Portugal.

Andritz has successfully started up a PrimeFlow AT headbox with dilution control at the Casalino Carta Srl. mill in Rocca Grimalda (Alessandria), Italy. The aim of the rebuild was to improve the basis weight profiles and formation of the PM1 packaging paper machine, which has a production speed of 305 to 570 m/min and a width of 2.9 m at the pope reel.

DuPont announced it has been named to the 2022 Bloomberg Gender-Equality Index (GEI) for the fifth consecutive year, recognizing the company's continued commitment to policies and practices that advance gender inclusion and parity in the workplace.

Quant Finland Oy and Quant Estonia OÜ (together "Quant") have renewed an existing Total Maintenance Partnership agreement with Metsäliitto Cooperative, Metsä Wood ("Metsä Wood"), a leading producer for premium-quality wood products. The agreement renewal contains scope changes beneficial to both parties. In its quarterly report for the first quarter of 2022, Quant will increase its contract portfolio value with EUR 2 million.

As a part of SCA's investment in a new CTMP mill in Ortviken in Sweden, PulpEye has received an order comprising two DotEye analysers, upgrading of three existing PulpEye analyser equipment and renting of a CrillEye module.

The target is to optimize production and improve the end-product quality.

Finnish engineering group Valmet said on Thursday its planned takeover of valve maker Neles could be delayed, citing regulatory processes.

The Cascades units in Kingsey Falls, Victoriaville and Drummondville showed remarkable generosity this year by donating a record-breaking $705,800 to Centraide. This donation exceeded last year's amount by $77,200, surpassing the $700,000 mark for the first time.

Essity has been included in S&P Global's Sustainability Yearbook 2022. In its review of more than 7,000 companies globally, Essity received silver medal within the category Household Products, and is ranked as one of the 150 most sustainable companies.

Leading manufacturer of sustainable, fiber-based consumer packaging, Graphic Packaging International ('Graphic Packaging') has added to its impressive list of industry accolades.

Greif, Inc. announced it has been awarded a Gold Rating in sustainability performance by EcoVadis for the fourth year in a row. EcoVadis is a leading global sustainability rating agency specializing in the evaluation of Corporate Social Responsibility (CSR), including sustainable development and performance monitoring of suppliers.

International Paper has been named to FORTUNE magazine's list of World's Most Admired Companies for the nineteenth time. FORTUNE's World's Most Admired Companies list is the definitive report card on corporate reputations. Korn Ferry has collaborated with FORTUNE annually since 1997 to identify, select and rank the World's Most Admired Companies.

Monadnock Paper Mills, Inc., the oldest continuously operating paper mill in the United States, raised its level of support to Gold Patron of the Sustainable Green Printing Partnership, taking a more active role in the future of the printing supply chain.

NORPAC was named a 2021 Best-in-Class employer because of the company's strong benefits program.

Super Bowl Sunday remains one of the busiest days for pizza chains. The American Pizza Community estimates that 12.5 million pizzas are sold on the day of the Big Game every year, and sustainable packing leader DS Smith wants to settle the score around a big problem the day after the game: what to do with all those pizza boxes?

Smurfit Kappa has made a simple but far-reaching change to its Vitop® taps. The taps used on its Bag-in-Box products are now free from carbon black pigment, making them much easier to recycle.

Sonoco has been selected to FORTUNE magazine's World's Most Admired Companies list for 2022. The Company was listed first in the Packaging/Container industry and No. 1 for Innovation as well as Quality of Products/Services.

With a soon-to-be-launched gluing innovation at Nymölla Mill in Sweden, where Multicopy is produced, the mission towards a more competitive and sustainable paper production continues.

Schweitzer-Mauduit International, Inc. (SWM), is pleased to announce the launch of Botani, a premium hemp and botanical solutions business delivering innovative hemp wraps, fillers, and rolling/pre-roll papers to the natural fibers industry. Manufacturers who wish to accelerate the delivery of premium, elevated experiences to their customers will benefit from Botani's product research and development expertise acquired from over 400 years within the natural fiber, specialty paper and tobacco industries.

Sun Chemical will increase prices across selected parts of its pigments, dyes and preparations portfolio, effective February 14, 2022 or as contracts allow. The price increase affects all market segments.

Vancouver-based West Fraser is the only company that will see its rate rise, from 11.14 per cent to 13.09 per cent.

The two companies worked together on a packaging solution for Henkel's hand dishwashing products that allows refilling plastic bottles from flexible pouches.

The boards of Rottneros and Arctic Paper have decided to invest 15 million euro in a moulded fiber tray factory at Arctic Papers premises in Kostrzyn, Poland. The factory will be operated in a separate legal entity and as a 50/50 joint venture, in line with the LOI that was signed by the parties on October 22nd, 2021.

Northern Pulp has applied to the British Columbia Supreme Court to send its $450-million lawsuit against the province to mandatory mediation.

The new fiber glass tissue production line will make luxury vinyl tiles and sheet materials, and are slated to be fully completed by summer 2023.

The Pratt facility is expected to produce 247,000 tons of containerboard in its first year of operation, with a gradual increase to 543,000 tons by the 10th year, staying at that production level until the bonds expire.

Brazilian pulpmaker Klabin SA announced on Tuesday a 180 million reais ($34.25 million) investment in its corrugated box plant expansion in the northern state of Ceara.

Stora Enso invests EUR 9 million in an automated CLT (cross-laminated timber) coating line at the Ybbs sawmill in Austria. The investment will further strengthen Stora Enso's position as a leading global provider of engineered wood products for low carbon, sustainable buildings.

Stora Enso is investing EUR 8 million to double its production capacity of formed fiber in Europe. With new machinery in Hylte, Sweden, Stora Enso will meet the increasing demand for formed fiber. The investment further strengthens Stora Enso's position as a leading provider of renewable materials that replace fossil-based ones.

Midwest Paper Group makes packaging-grade paper at its mill in Combined Locks. The mill has a capacity to produce 500,000 tons per year.

Essity has acquired the US professional wiping and cleaning company Legacy Converting, Inc.

Mayr-Melnhof Holz has received the necessary approval from the competition authorities, and thereby completes its acquisition of the Swedish sawmill group Bergkvist Siljan.

The mystery party had been circling since at least November but has never been named in R.R. Donnelley's public statements.

Norske Skog has entered into agreement with Talley's Group, a New Zealand based dairy, fishing, produce and food company, to sell the Nature's Flame pellets company for a consideration of approximately NZD 47.8 million (approximately NOK 280 million). The transaction is expected to close during the first quarter of 2022.

Nuveen Natural Capital, a globally diversified investment and asset management company specializing in the acquisition and stewardship of forestry assets, completed the sale of 66,800 acres in Texas and Georgia to Rayonier, a leading timberland real estate investment trust. The purchase price, before transaction costs, was $124.2 million.

Resolute Forest Products Inc. announced two separate transactions to grow and improve the competitiveness of its wood products business.

If approved, all Verso stockholders will receive $27.00 per share in cash upon closing of the transaction, representing immediate and certain value at a significant premium.

Canfor Pulp Products Inc. is announcing changes to the senior leadership team. After 14 years with Canfor, Alan Nicholl, Executive Vice President, Bio-Based Solutions & Pulp Operations, has accepted the role of Managing Director with Licella Holdings, Canfor's joint venture partner in Arbios Biotech (Arbios) effective April 2022. Alan will continue to serve as President & CEO of Arbios.

Greif, Inc., a global leader in industrial packaging products and services, announced that Ole Rosgaard assumed the role of President and Chief Executive Officer, consistent with the company's previously announced succession plan. Mr. Rosgaard succeeds Pete Watson who will become Executive Chairman of Greif's Board of Directors. Mr. Rosgaard has also been nominated to serve on Greif's Board of Directors, which will be voted upon at the Annual Stockholders' Meeting on March 1, 2022.

The Finnish Paperworkers' Union has today informed UPM that their strike at UPM's Finnish mills will be extended by three weeks until 12 March 2022, unless new agreements are reached before that. The Paperworkers' Union's strike at UPM Pulp, UPM Biofuels, UPM Communication Papers, UPM Specialty Papers and UPM Raflatac units in Finland started 1 January 2022. Currently, approximately 200 union members are working in tasks critical to society, such as power plants and water treatment facilities.

Ewertz replaces current CFO, Toby Lawton, who is leaving his position for personal reasons.

B.C.'s latest round of grants from the CleanBC Industry Fund pays for conversion of equipment at five pulp mills to reduce their natural gas use, while most of the rest of the $70 million goes to natural gas production facilities in Northeast B.C. to get them to switch processes to electricity.

The American Forest & Paper Association (AF&PA) President and CEO Heidi Brock issued the following statement in support of the Recycling and Composting Accountability Act (RCAA), introduced by U.S. Senators Tom Carper (D-DE), John Boozman (R-AR) and Shelley Moore Capito (R-WV), and the Recycling Infrastructure and Accessibility Act (RIAA), introduced by Senator Capito.

Amcor is proud to be among more than 70 businesses and financial institutions calling for a legally binding United Nations treaty on plastic pollution.

Essity is aiming to reduce its Scope 3 emissions by 18% by 2030.

Now that the company has replaced its two oil-fired lime kilns with a biofuel-fired lime kiln, SCA Containerboard can claim to be the first kraftliner manufacturer with fossil-free industrial processes.

Stora Enso has been named by CDP, for the second consecutive year, as a Supplier Engagement Leader on climate change.

For 2021, Stora Enso is publishing one combined Annual Report covering our strategy, financials, sustainability reporting, corporate governance and remuneration.

Catalyst Paper's Tis'kwat mill has begun its indefinite curtailment in earnest, with many workers putting in their final day at the mill on February 4.

International Paper (IP), one of the world's leading producers of renewable fiber-based packaging and absorbent pulp solutions, achieved a major production milestone at its Madrid Mill in Fuenlabrada, Spain. In the last quarter of 2021, the state-of-the-art mill reached a total production volume of one million tonnes of sustainably made high-performance light-weight recycled containerboard since the completion of the conversion investment in August 2018.

Asia Pulp & Paper (APP) Sinar Mas has confirmed that there has been a tiger attack in the concession area of one of its subsidiaries, PT. Satria Perkasa Agung (SPA), resulting in a fatality to an employee of a contractor on February 5, 2022.

At least two workers were killed and another 15 sustained burns after a major fire broke out in Kasur's Bulleh Shah Paper Mills on Wednesday, Feb. 9.