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The PM40 closed Friday, 1 September 2023, at 5200.

Get the latest PM40 updates by listening to the weekly Nips show and the PM40 Daily Show on Pulp & Paper Radio International.

In this issue of Disconnected Comparisons, we evaluate Boise Cascade and Rayonier Advanced Materials.

The PM40 closed 1 September 2023 up 3.2% from the 2 September 2022 level.

Reported insider trading since the last issue of PaperMoney.

It is being reported that Smurfit, of Dublin, Ireland, and WestRock, of Atlanta, Georgia, are in merger talks. These are interesting times indeed. I recall in 1986 when Smurfit bought Container Corporation of America (CCA) with the help of Morgan Stanley. In fact, the combined company name included Morgan Stanley. Long term, that merger did not end well.

Jarno Nymark has been appointed to the Andritz AG Executive Board as of October 1, 2023, assuming responsibility for the Pulp & Paper Business Area.

Start-up is planned for end of 2024.

Single largest pre-order of an ongoing AI-Powered innovation to date for Cyngn, demonstrates Arauco's proactive commitment to increased sustainability, efficiency, and safety in their future operations.

Toscotec will supply a forming section rebuild of PM2 to Gulf Paper Manufacturing at their Mina Abdullah paper mill in Kuwait.

United Paper Public Company Limited has successfully started up an OCC (Old Corrugated Containers) line supplied by Andritz at its mill in Prachinburi, Thailand. This is the second OCC line from Andritz in operation at this mill.

Julia Macharey, Senior Vice President Human Resources and Operational Development of Valmet has decided to leave the company to move into a new position outside Valmet. Julia Macharey will continue as an active member of Valmet's Executive Team and lead Valmet's HR and Operational Development until the end of January 2024.

Valmet will deliver a complete atmospheric diffuser rebuild to Billerud's Skärblacka mill in Sweden. The delivery is scheduled to take place in May 2024.

The optimization will be delivered during autumn 2023.

Valmet will deliver a recovery boiler upgrade to Lecta Group's Torraspapel combined pulp and paper mill in Zaragoza, Spain. The upgrade will increase the capacity of the pulp mill's recovery boiler and reduce the mill's emissions.

The new TM 10 machine will be installed at the company's mill in Mexicali and the start-up is planned for the Q2 2025.

The start-up is scheduled for late 2024.

The delivery is scheduled for the Q1 2025.

The investment aims to improve the operating efficiency and optimize the final paper quality of the PM 6.

Close cooperation between Voith and Huaqiao Fenghuang Paper teams led to fast and successful implementation.

This new line of fully fiber-based, recyclability-certified packaging is specifically designed to replace traditional fossil-based plastic and films for frozen food packaging.

As part of the company's expansion into the North American market, Billerud, a world-leading manufacturer of superior paper and packaging materials, is introducing its portfolio of coated liners to the US market. This introduction will enable great improvements in sustainability and cost performance for both packaging converters and brand owners.

"A long lasting impact." That's the definition of what a legacy leaves behind. Well, there's no better way to look at the legacy of a company than viewing its logos. Smith Corona's brand has been around for decades (over 130 years but who's counting?), so we've gone through a lot of changes - all better than the next!

The innovation offers a secure snap closure system that represents an upgrade on the performance of Picadeli's previous solution.

Fiber-based consumer packaging leader Graphic Packaging International has announced the launch of an innovation in coated recycled paperboard (CRB): PaceSetter Rainier(TM), named after Mount Rainier, known for its pristine white snow-capped summit.

Huhtamaki's rating of 67 puts it in the top 10% of companies in the packaging sector. Our performance is driven by increased focus on biodiversity, climate action and waste management as well as human rights and anti-corruption.

The loss of Kleenex, whose name is used interchangeably with its product, may leave Canadians wondering what to call it. Kleenex has been a staple in Canadian households since its development in the 1920s.

UPM Raflatac, a global supplier of innovative and more sustainable self-adhesive paper and film products, has received a new certificate of validity from leading international assurance service provider, DEKRA, for its Label Life service.

More than $2.2 million in scholarships has been awarded to nearly 450 students through the LP Scholarship Program

Mondi, a global leader in sustainable packaging and paper, has collaborated with Fressnapf, Europe's market leader for pet supplies, to switch their packaging to a new range of premium mono-material recyclable solutions using process colour printing technology.

The mattress packaging is made from Mondi kraft paper, offering breathable and expandable product features.

Women's health issues continue to be overlooked in society. This is one of several findings in Essity's Health and Hygiene Report 2023-2024, linking gender equality, care, and prevention to personal well-being and public progress, emphasizing the need for joint action to effect change.

R.R. Donnelley & Sons Company (RRD), a leading global provider of marketing, packaging, print, and supply chain solutions, highlights the impact of continued eCommerce growth based on its 2023 (Un)Packaging Reality Report.

So what is next?

Inspired by over two decades of success from its Ideas that Matter (ITM) grant program - the only operation of its kind in the paper and packaging industry - Sappi established EITM in 2016.

Cascades Inc., a leader in the recovery and manufacturing of eco-friendly packaging and hygiene products, is delighted to announce that two of the company's female leaders have been named to Pulp & Paper Canada magazine's prestigious 2023 Top 10 Under 40 list, which highlights the leadership and achievements of employees under the age of 40 in the Canadian pulp and paper industry.

UPM Raflatac is extending the scope of its CarbonNeutral® certified labeling materials to cover the entire lifecycle emissions of a label.

In an effort to address prevalent supply chain uncertainties and to maintain the commercial viability of its Graphic Paper business, Sappi Europe will keep prices for its Woodfree Coated Paper grades stable at today's level for the remainder of 2023.

Demand for forest raw materials continues during the autumn.

Nippon Paper Industries started cooperative marine transport between the capital region and the Kansai area, Japan, in cooperation with Daio Paper Corporation.

Canada will challenge what Ottawa described as "unfair, unjust and illegal" U.S. duties on Canadian softwood lumber products, the trade ministry said on Tuesday.

DNR has yet to identify the source.

Funds will support Weed High School graduates pursuing next level of education.

Due to current market conditions, the start of the project has been postponed to 2024.

Metsä Wood and construction company SRV have signed an agreement for the construction of Metsä Wood's new Kerto LVL mill in Äänekoski, Finland. SRV will be the main contractor for the project, which will be carried out as a cooperative project management contract. Preparations for construction will begin immediately.

The Board of Directors of Nordic Paper has decided to invest approximately SEK 850 m at the Bäckhammar mill.

Visy Industries unveiled a major AU$42.5 million upgrade to its paper recycling and remanufacturing campus in Coolaroo, Australia.

Ahlstrom has entered into an agreement to divest its Stenay plant in France to Accursia Capital, following the announcement of Accursia Capital's binding offer in July. The divestment was confirmed after receiving endorsement from the site's employee representatives. The transaction is expected to be completed by the end of September.

Agreement will expand ArborGen's presence and availability of genetically improved Eucalyptus seedlings in the state.

BROSCO is a fifth-generation, family-owned company founded in 1890.

Ostrest GmbH to assume ownership effective August 15, 2023 with site to remain fully operational.

ColePak is the second largest supplier of paper partitions in North America and has a compelling future growth path in that unique product niche.

SCA and Persson Invest began their collaboration around Gällö Timber and the sawmill in Gällö, Jämtland in 2010. Since 2010, significant investments have been made in the sawmill to develop its operations and strengthen its competitiveness. Today, the sawmill has 115 employees and a capacity of 370,000 cubic meters of sawn timber.

The Board of Directors of Norske Skog ASA has appointed Geir Drangsland as the new CEO as of 1 September. Drangsland succeeds Tore Hansesætre, who has decided to leave Norske Skog after more than 14 years in the company.

In the 18 months since the indefinite curtailment, the majority of employees took voluntary severance, and a small number chose to transfer to another Paper Excellence Canada mill. When fully operating, Catalyst Paper tiskwat employed approximately 200 people.

Following the rockslide and subsequent production stop at Saugbrugs PM6 (paper machine 6) in April this year, Norske Skog has decided to restart production at the previously idled PM5. The restart of PM5 allows Norske Skog to continue supplying SC magazine paper to its customers and keep its market position.

Billerud is introducing a new organization whereby the company harmonizes and operates its business in two distinct geographical regions - Europe and North America. Billerud further appoints Andrei Krés as acting CFO, effective immediately.

These actions would reduce the number of employees by approximately 1,150. The parts of the change negotiations completed so far, will result in a reduction of 710 employees.

Company to use autonomous forklifts in the U.S.

Prequalified by How2Recycle®, performance paper meets the repulpability standards for curbside recycling, allowing brands to provide consumers with more sustainable end-of-life outcomes for packaging.

Domtar now accepts all of the retailer's old cardboard containers to fuel production.

Largest producer and exporter of packaging paper and sustainable paper packaging solutions in Brazil, and the only one in the country to offer short, long and fluff fiber pulp to the market, Klabin received approval for its use in Blue Angel products - the world's first environmental label, linked to the German Ministry of the Environment and the RAL gGmbH as competent bodies. Created in 1978, the seal takes a holistic view of a product's life cycle in order to assess its sustainability.

Metsä Group plans to boost biodiversity on its land areas in Kemi. Covering more than 650 hectares, the designated site encompasses Metsä Group's mill area and other areas in the Kemi urban environment.

This comprehensive report highlights the company's continued dedication to sustainable practices and commitment to being a responsible and trustworthy investment partner for timberland investors.

Port Hawkesbury Paper is committed to sustaining a healthy environment in our forests and facilities. The natural resources entrusted to our company are managed for long-term sustainability and biodiversity while conserving the social and cultural values of the community.

This report illustrates Rayonier's ongoing commitment to transparency around Environmental, Social, and Governance (ESG) factors and how they are incorporated into its strategic and operational decision-making.

Aki Temmes has been appointed Executive Vice President responsible for UPM Fibres Business Area as of 1 December 2023. He will report to Jussi Pesonen, President and CEO and be based in Helsinki, Finland.

Antti Koulumies, M.Sc. (Eng.), has been appointed Senior Vice President, Timber and Forest. Koulumies will take the leadership of UPM Forest and continue to lead UPM Timber. The current leader of UPM Forest Sauli Brander, B.Sc. (Eng.), eMBA, has been appointed Vice President, UPM Global Forest Affairs. He will focus on global forest advocacy as well as global forestry themes, such as climate-positive forestry and biodiversity.

Chief Taylor said that Davonne Woods was working for H&M Contracting at the PCA plant on Industrial Rd. when he was killed. According to Taylor, a witness reported seeing the large truck Woods was driving roll over into a pond on the property.

Daio Paper Corp. announces plans to spend approximately 19 billion yen to reconstruct the boiler at its subsidiary, Iwaki Daio Paper Corp., based in Iwaki City, Fukushima Prefecture, Japan.

With deep expertise in finance, strategy, accounting, treasury, and risk management, Mr. Nunziata brings more than 20 years of strong leadership experience with a track record for implementing enterprise-wide changes and driving key financial and process improvements in large-scale organizations.

Crews from the Longview Fire Department responded to a fire Monday evening at Nippon Dynawave Packaging facility.

Mikko Antsalo has been appointed Metsä Fibre's Senior Vice President, Sales and Customership, and a member of Metsä Fibre's Management Team as of 1 March 2024.

PotlatchDeltic Corporation announced the appointment of Wayne Wasechek as Vice President, Chief Financial Officer, effective immediately. Wasechek has served as Interim Vice President, Chief Financial Officer and Chief Accounting Officer, since April 19, 2023.

President and CEO Henrik Hjalmarsson has decided to leave Inwido to take on the position of President and CEO in another business.

Sustana, a manufacturer of premium, sustainable recycled fiber and paper products, announces the appointment of Aaron Ling to Director of Sustainability. In this role Aaron will be responsible for driving the implementation of Sustana's ESG initiatives and supporting the development of the group's sustainability strategy.

This comes after members of Teamster Local 346 narrowly approved a 3-year labor contract with respect to the mill's 166 hourly employees on August 11. It ended a short notice strike that began July 15 over wages.

Western Pulp will cease production operations at its Jacksonville facility at the end of the month, while continuing its shipping operations to help customers manage the transition to new suppliers, according to the company's announcement Tuesday, Aug. 15.

An internal company memorandum provided Tuesday morning confirms the plant closure but gives no date.