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

The PM40 closed Friday, 28 April 2023, at 4967.

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 28 April 2023 up 2.5% from the 29 April 2022 level.

Reported insider trading since the last issue of PaperMoney.

This column is largely read by C-Suite occupants. This month, it is squarely directed at same. For goodness sakes, focus your marketing on your products.

International technology group Andritz has received an order from the Colombian wipes converting company Quimicolor to deliver a complete neXline spunlace line for nonwovens production to its Medellín plant.

International technology Group Andritz received an order from Swedish pulp and paper manfufacturer Billerud AB to supply a flue gas treatment system for its Gruvön mill in Sweden.

Solenis, a leading global producer of specialty chemicals used in water-intensive industries, has released its 2022 Sustainability Report, summarizing the company's environmental stewardship, social responsibility and governance (ESG) initiatives for the previous fiscal year.

Tero Kokko, Ph.D. has been appointed President, EMEA (Europe, Middle East, Africa) at Valmet as of June 1, 2023. In his new position, Tero Kokko is a member of Valmet's Executive Team and reports to President and CEO Pasi Laine.

Valmet and Greenalia Biomass Power Curtis-Teixeiro S.L.U have signed a three-year service agreement to further improve the performance of Greenalia's Curtis-Teixeiro biomass plant in Spain.

Valmet will deliver key technologies and automation systems for Henan Longyuan Paper's new PM7 testliner line at their mill in Henan province in China. The order also includes a quality control system for the rebuild of their PM3 machine.

Ahlstrom has received the significant honor of successfully achieving the Pet Sustainability Coalition's "Pet Sustainability Accredited" status. The Pet Sustainability Coalition (PSC), an organization committed to advancing sustainability in the pet industry, recognizes Ahlstrom's commitment to sustainability and its efforts to reduce the environmental impact of its products and operations through the accreditation.

Ahlstrom introduces a new range of renewable and sustainable filtration solutions for automotive applications. Ahlstrom ECO™ is a technology supporting the increasing sustainability demands of the global transportation market and offering a new choice for filter manufacturers.

Swedish concrete manufacturer Heidelberg Materials Precast Contiga and Finnish producer of engineered wood products Metsä Wood, have initiated a cross-industry collaboration to capitalise on the benefits of combining concrete and wood in future building structures.

Mondi is investing in innovative technologies to increase FunctionalBarrier Paper capacity in order to meet the growing demand for sustainable paper-based packaging solutions.

Mondi partnered with mattress producer Megaflex Schaumstoff to introduce Protector Bag ExpandForm for mattress rollpacking.

Made by Bagcraft, the revolutionary new packaging keeps food tasting fresh as it's wrapped, frozen, reheated and held under heat at the point of sale.

Videos highlight recruitment and corporate responsibility that supports communities.

All three of Sappi's manufacturing regions - Europe, North America and South Africa - once again achieved the highest possible rating, platinum, in the annual EcoVadis Corporate Social Responsibility (CSR) ratings.

Trayforma BarrPeel by Stora Enso is a new, easy-peeling board material for vacuum skin packs enabling packaging fresh food on recyclable paperboard trays. Trayforma BarrPeel supports brand owners' sustainability ambitions by reducing plastic to less than 10% of the tray.

Monadnock Paper Mills, Inc., the oldest continuously operating paper mill in the United States, demonstrates yet again that it's keeping up with the times by introducing our newest "Un-Plastic®" and sustainable wide format and signage materials.

Due to materially lower earnings forecasts for the full year results 2023, Stora Enso's new guidance is that the full-year 2023 operational EBIT is expected to be significantly lower than for the full-year 2022 (Euro 1,891 million).

On April 12, 2023, a Nebraska jury rendered a unanimous verdict against Wright Printing Company, its owner, Mark Wright, and CEO Mardra Sikora for a total of $5 million in actual and punitive damages. The lawsuit was filed by Crabar/GBF, Inc., a subsidiary of Ennis, Inc., which purchased Wright Printing Company's Folder Express and Progress Publications folder businesses for $15 million in 2013.

Van Den Heuvel was convicted of fraud in Wisconsin and handed a 7.5-year prison sentence in 2019. He was released during the COVID-19 pandemic to serve the remainder of his sentence under house arrest in Cheboygan.

Members' motion to look into Paper Excellence to be presented at provincial council meeting in May.

Following a guilty plea in the Ontario Court of Justice, Resolute Forest Products Inc. was fined $120,000.

As part of a planned $108 million project, Georgia-Pacific has given the green light on $50 million in upgrades to boost paper towel output at the company's Port Hudson paper mill in Zachary, company officials said Monday.

Holmen is investing SEK 450 million ($43.9 million) in rebuilding a paper machine at Braviken Paper Mill in Sweden.

The project includes the new construction of a 4,000 m2 planing house adjacent to a sawmill.

The MM Group (MM) has approved a comprehensive investment project to increase the long-term competitiveness of its largest board and paper mill, MM Kwidzyn in Poland. Energy and CO2 cost reduction, pulp integration and entry into the market for sack kraft papers are to set the mill up for sustainable future success.

Resolute Forest Products Inc. held a ceremony to inaugurate its new commercial-scale plant for the production of cellulose filaments at its Kénogami paper mill in Saguenay, Quebec.

Roseburg Forest Products announced Friday (April 14) that it planned to invest $700 million over the next four years to upgrade and expand its manufacturing operations in Southern Oregon, where the company was founded nearly 90 years ago.

The investment is planned to be operational in 2024.

Packaging and speciality paper manufacturer Sappi Europe has invested a double-digit million euro sum in a new plant to produce innovative high-barrier papers - including an all-new type of barrier coating machine. Recently put into operation at the company's Alfeld site in Germany, the in-house solution will produce high-barrier papers for recyclable packaging for food and non-food applications.

LP Building Solutions (LP) and Forex Inc. have entered into a definitive agreement under which LP will acquire the assets owned by Wawa OSB Inc., a subsidiary of Forex Inc.

Structurlam Mass Timber Corporation, the leading mass timber manufacturer in North America, announced it has entered into a stalking horse asset purchase agreement (the "APA") with Mercer International Inc. to sell substantially all the Company's assets in British Columbia and Arkansas for US$60 million.

Cascades will work closely with its 300 affected employees to mitigate the impact of this announcement.

The strategic review includes exploring different options and may result in divestments, although no such decisions have yet been taken.

Mercer Peace River (MPR) announces the completion of the Fibre Procurement Project. This milestone was celebrated with a ribbon cutting in front of the newly revitalized woodroom at the MPR site with dignitaries in attendance.

PotlatchDeltic Corporation announced that Jerry Richards will relocate to accept an opportunity with another company. Mr. Richards has resigned as the Company's Vice President and Chief Financial Officer, effective April 19, 2023 and he will be focused on ensuring a smooth transition through his final day on May 12, 2023. Mr. Richards joined the Company in 2013.

Rajeski's Expanded Role Includes Responsibility for Overseeing all Aspects of the Business.

UPM has received the final operating authorization for its new UPM Paso de los Toros pulp mill from the environmental authorities. The start-up of the mill commences immediately, and first customer deliveries are expected to ship in May.

UPM Plywood is planning to restructure its organization and scale its operations to meet the reduced production capacity and the deteriorating market situation. The company will begin employee negotiations involving 262 salaried employees in the staff and global functions, in the sales offices and in the Finnish mills.

There are several innovative projects under way for energy reduction and renewable energy in the pulp and paper industry.

Metsä Group's Kemi bioproduct mill will start up in the Q3 2023.

Metsä Group aims to make Finnish forests increasingly vibrant and diverse. To achieve this, the company launched its regenerative forestry principles in March 2023.

The start-up is planned for 2024.

West Fraser Timber Co. Ltd. announced that the Science Based Targets initiative (SBTi) has validated its scope 1, 2 and 3 emissions reduction targets. This validation further supports West Fraser's plan to achieve near-term greenhouse gas ("GHG") reductions across all its operations located in the United States, Canada, United Kingdom and Europe.

Sonoco, a diversified global packaging company recognized for its leadership in sustainability, today released its 2022 Corporate Responsibility Report which highlights progress made in support of its environmental, social, and governance (ESG) initiatives.

UPM is replacing the use of fossil fuels with electric boilers in heat and steam production at its mills in Finland and Germany. A total of eight boilers will be installed, mainly to replace the use of natural gas.

A contract worker at a northern Michigan paper mill has died from a fungal infection that has forced the business to temporarily close for deep cleaning.

Billerud announces the temporary idling of the Escanaba Mill for up to three weeks as a precautionary measure to protect the health and safety of its employees and contractors due to a blastomycosis fungal infection outbreak.

Kristina Enander, President of SCA's Pulp business area, will assume the role of Senior Vice President Strategic Development on May 1, 2023.

Georgia-Pacific has announced new leadership for its packaging and cellulose and building products businesses.

The first APA-approved LP SmartSide board was pressed following the facility's conversion to manufacture LP's flagship home siding product.

Saugbrugs PM6 has a capacity of 260,000 tonnes SC magazine paper. Operations at Saugbrugs PM4 continue, the machine has a capacity of 100,000 tonnes SC magazine paper. The production and financial impact is currently uncertain.

Sappi North America is pleased to announce that Bakul Wadgaonkar has joined our team as Director of Sustainability. Bakul comes to Sappi with many years of experience in environmental health and safety, sustainability, manufacturing and quality management at Apple, Bose Corporation and DSM Coating Resins.

A fire of unknown origin broke out at the Soundview Paper Co. in downtown Putney on Friday afternoon, drawing dozens of firefighters from area departments to fight the blaze on a hot afternoon.

Employees at the Sappi paper mill in Cloquet are returning to work after being forced to evacuate Friday, April 14 as a precautionary measure due to rising water levels along the St. Louis River.