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The PM40 closed Friday, 31 October 2025, at 5122.

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 31 October 2025 down 12.1% from the 1 November 2024 level.

In this issue of Disconnected Comparisons, we evaluate Graphic Packaging and 3M.

The Trump Administration's executive orders cut across dozens of industries. This searchable tool breaks down the orders and their impact.

So, in some grades for some players, the markets are soft. My experience goes back to the mid-1970's, so one could say I have seen this before. The first time was in tissue when simply, those with deep pockets overbuilt relative to demand, driving the prices down. In other times and other grades, there have been other reasons.

The collaboration brings together Tandem Repeat's expertise in advanced biotechnology and ANDRITZ's extensive experience as a supplier of solutions and plants for the production of nonwovens and manmade cellulosic fibers.

Expertise in engineering and chemistry crucial for emission reduction.

A North American kraft pulp and paper mill will expand its woodyard with a complete Bruks Siwertell material handling system, including a cross-over stacker reclaimer and multiple conveyors.

The plant will use agricultural residues, primarily straw, to produce pulp blends for sustainable paper packaging by combining these with recycled wastepaper.

Sofidel America will invest in a state-of-the-art Valmet tissue line to meet the growing demand of ultra-premium tissue products in the North American market. The new Advantage ThruAir tissue line will enable Sofidel America to significantly expand its production capacity of ultra-premium products for North American consumers.

Ahlstrom has received a platinum medal in the EcoVadis sustainability assessment after achieving an overall score of 86 out of 100.

Avery Dennison® Graphics Solutions announced the release of Neo™ Matte Black Paint Protection Film (PPF), an exciting addition to its premium wet-apply color PPF line. This highly anticipated film joins the successful Neo™ Noir Gloss Black PPF to give installers and car enthusiasts the two most popular black aesthetics backed by superior protection.

Award reflects Domtar's dedication to customer support excellence and delivering reliable, transparent sustainability data.

Domtar is proud to celebrate its one-year anniversary of uniting under a single brand: Domtar - The Fiber for the Future. The year has been one of expansion, achievement and living Domtar's new values.

LP Building Solutions announced the continuation of its partnership with the Forest Workforce Training Institute's ForestryWorks program and a new collaboration with the First Nations Forestry Council. Both initiatives aim to develop the next generation of forestry professionals and advance sustainable forest management across North America.

A recent joint initiative between Foli ES, a leading packaging converter in Mexico, and MM Board & Paper has demonstrated the impact of close technical collaboration on improving production outcomes in corrugated cardboard and cardboard boxes manufacturing.

SCA and MAQS Law Firm are launching the Association Academy - a new, multi-year development programme aimed at strengthening leadership, organisation, and long-term sustainability among the region's sports clubs.'

Tork, the global leader in professional hygiene and an Essity brand, recently released new guidance aimed at helping businesses transform their restrooms into assets that enhance user satisfaction and benefit business performance. Citing research that indicates a significant gap in user and cleaner satisfaction, Tork recommendations focus on improving inclusive hygiene, environmental sustainability and operational efficiency.

UPM Adhesive Materials unveils a curated collection of Premium Performance label materials for wine and spirits packaging. Each material has been selected for its advanced converting properties, exceptional performance in the wine and spirits sector and ability to elevate brand and consumer experience. The collection is featured in a new sample folder, available in European, North American, South American and Asia-Pacific markets.

Delivered another solid quarter in a dynamic environment.

Södra posted a negative result for the third quarter of 2025. The result was impacted by the continued uncertain external environment combined with low demand and negative exchange rate effects.

Company's stock prices drop as solid bleached board continues to be oversupplied.

Holmen reported an operating profit of SEK 2,531 million for January to September 2025, down from SEK 3,005 million in the same period last year, due to low electricity prices and maintenance shutdowns in its Board and Paper division.

The company posted a net loss of $1.10 billion, or $2.09 per share, for the quarter ended September 30, compared with a profit of $150 million, or 43 cents per share, a year earlier.

Net sales of $4.2 billion were in line with prior year with organic sales growth of 2.5 percent offset by divestitures and business exits.

Showing the way forward, Metsä Group will introduce a data-analytics-based operating model for wood trade, in which the bearing capacity of soil and the prevailing weather conditions determine the harvesting time for felling sites.

Metsä Group reported a comparable operating loss of Euro 27 million for the first nine months of 2025, down from a Euro 170 million profit a year earlier, as deteriorating market conditions pressured its core businesses.

Norske Skog reported a pre-tax profit of NOK 120 million for the third quarter of 2025, a significant improvement from a loss of NOK 144 million in the same period last year, according to Norske Skog ASA. The result was driven by lower fibre costs and positive valuation effects from Norwegian energy contracts, despite decreased paper prices across both main segments.

Reported earnings in the third quarter of 2025 include special items for costs and charges related to the Greif containerboard business acquisition and costs related to closures of corrugated products facilities.

The Ireland-headquartered company now expects full-year adjusted core earnings (EBITDA) to rise by between 4% and 8.5% to between $4.9 billion and $5.1 billion, from a previous $5.0 to $5.2 billion range.

Sonoco Products Company reported net income of $122.9 million for the third quarter of 2025, up from $50.9 million in the same period last year, according to the company's earnings release. The 142% increase was driven by the acquisition of Metal Packaging EMEA and improved price/cost dynamics.

Stora Enso's Q3 2025 sales rose by 1%, driven by acquisitions and new production lines.

UPM-Kymmene reported a 47% decline in comparable EBIT to Euro 153 million in the third quarter of 2025 as weak global pulp and paper demand and elevated wood costs continued to pressure earnings. Group sales fell to Euro 2.3 billion, down from Euro 2.5 billion a year earlier.

West Fraser Timber reports a third-quarter loss of $204 million, driven by weak North American housing demand and a $67 million duty expense linked to finalized U.S. softwood lumber tariffs.

The company's bottom line totaled $87 million, or $0.12 per share. This compares with $28 million, or $0.04 per share, last year.

Great Lakes Filters a division of ACME MILLS LLC, a leading North American manufacturer and converter of high-performance textiles and filtration products, is proud to announce a strategic partnership with Ahlstrom - the global leader in combining fibers for innovative and sustainable specialty material. Acme Mills will serve as a distributor of Optipad™ leveraging its decades of filtration and textile converting expertise to bring this high-value product to market with efficiency and scale.

The Memphis-based company announced it is partnering with Infosys for its IT needs at its Packaging Solutions North America business.

Thai Containers Group Co., Ltd., a joint venture of Rengo Co., Ltd., will acquire a 60% stake in Indonesian corrugated packaging manufacturer PT Prokemas Adhikari Kreasi, commonly known as Mypak.

Pricing under the Supply Agreement increases with volume purchased, at stated volume thresholds, to provide International Paper Company with an incentive to produce greater volume as it commences winding down operations at the Riverdale Mill. Sylvamo North America, LLC's right to acquire sheeting assets located at the Riverdale Mill, which is set forth in the Supply Agreement, is clarified and amended. Sylvamo North America, LLC shall acquire all Sheeting Asset at the Mill for a purchase price equal to $1.00.

Workers claim Ahlstrom shaved time and miscalculated overtime, sparking a class action in Wisconsin.

The lawsuit, filed in the Superior Court of California in San Francisco, names Novolex Holdings, Inteplast Group Corp. and Mettler Packaging and alleges that they unlawfully sold and distributed plastic bags. The suit also accuses them of producing misleading environmental marketing materials, failing to substantiate environmental marketing claims and engaging in untrue or misleading advertising. And the lawsuit accuses the companies of unlawful, unfair or fraudulent business practices.

A new lawsuit is accusing the Kimberly-Clark Corp., a producer of paper goods for household brands such as Huggies, Kleenex and Scott, of contaminating local water sources, including the Housatonic River, with dangerous "forever chemicals" over the course of decades.

Separately, this week other defendants filed individual and collective motions to dismiss the containerboard price collusion lawsuit.

According to court documents, the tragic incident occurred on July 1, 2025, when Akayinode drove to her job at the USG Corporation mineral plant in Galena Park, a suburb of Houston, leaving her daughter inside the vehicle for more than eight hours.

Ahlstrom, a global leader in fiber-based specialty materials, opened a new warehouse in Nuevo Leon,reinforcing its commitment to enhancing service for filtration customers across the country. The facility, which will begin operations in January 2026, aims to enable faster delivery times, lower customer capital expenditures, and accelerate time-to-market, significantly improving overall operational efficiency.

Spain-headquartered Saica Group says the $110 million project, covering the space of roughly six American football fields, should open by the end of 2026. It could employ more than 100 people once it's at full capacity. It will also serve as a backup plant for Saica Pack in the Cincinnati suburb of Hamilton, Ohio, enhancing the company's U.S. supply chain security.

Avery Dennison Corporation, a leading global materials science and digital identification solutions company, announced it has completed the acquisition of the U.S.-based flooring adhesives business of Meridian Adhesives Group, a global adhesives manufacturer, for the purchase price of $390 million.

The acquisition includes Anchor Packaging's four manufacturing facilities in Jonesboro, Marmaduke and Paragould, Arkansas, and Janesville, Wisconsin, and the headquarters office in St. Louis, Missouri. Operated by approximately 1,250 employees, Anchor Packaging and its facilities now become a wholly owned subsidiary of Georgia-Pacific in the acquisition.

BMI Group specializes in purchasing and redeveloping industrial properties for new purposes.

Södra has reached an agreement to divest its forest holdings in the Baltics to Ingka Investments, the investment arm of Ingka Group (the largest IKEA retailer).

Weyerhaeuser Company reports it completed two timberland acquisitions valued at $459 million and advanced three divestitures of non-core properties totaling $410 million in expected proceeds. The company confirms the third divestiture will close in early 2026 and expects the total cash inflow from all sales to exceed the funds spent on the acquisitions.

M.Sc. (Econ.) Anssi Tammilehto has been appointed Chief Financial Officer (CFO) and member of the Corporate Leadership Team of Metsä Board Corporation. He will start in the new position no later than February 2, 2026, and will report to CEO Esa Kaikkonen.

Unifor members in Ear Falls, Ont., gathered at the municipal government building to call for immediate action to reopen the Interfor Ear Falls sawmill that recently shut down production.<

GreenFirst Forest Products Inc. welcomes the recent announcement of the restart of operations at Kap Paper Inc. This development highlights the strong collaboration between the federal and provincial governments and their shared commitment to supporting Northern Ontario communities and Canada's broader forestry sector.

Essity is launching measures to create better conditions for profitable growth. Actions include an organizational change that decentralizes decision-making and strengthens end-to-end accountability for each product category, and a cost savings program that is expected to generate annual savings of approximately SEK 1bn with full effect by the end of 2026.

Holy roll of toilet paper!

Pivotal combination with Berry Global unlocks new possibilities.'

The Skookumchuck, B.C., mill's latest $62,950 in environmental penalties is the third major enforcement action against the Kootenay facility this year.

Beach has partnered with prominent recycling and manufacturing company Visy through a new two-year natural gas supply contract.

Transaction with Tacoma Public Utilities permanently protects land in the Green River Watershed.

Domtar's Kingsport Mill has been awarded The Fred Schmitt Award for Outstanding Corporate Leadership by the National Recycling Coalition (NRC). The prestigious national honor recognizes a company showing leadership, innovation and success as a model in recycling and diversion.

The BTG Pactual TIG reforestation strategy focuses on restoring biodiversity and climate resilience in critical ecosystems in Latin America, including Brazil's Cerrado biome - one of the most biodiverse seasonally dry ecosystems in the world.

The Florida Department of Environmental Protection is reporting that International Paper in Cantonment spilled nearly 2 million gallons of treated wastewater and stormwater into Elevenmile Creek after heavy rain.

The U.S. Senate Committee on Agriculture, Nutrition, and Forestry has approved the Fix Our Forests Act (S. 1462) by an 18-5 vote. This bipartisan legislation aims to reduce the frequency and severity of catastrophic wildfires, expedite forest management projects, and address legal and regulatory barriers to timely wildfire response.

Chris Stoicheff with the mill said there are no reports of injuries. It is unknown how the fire started.

A fire broke out Monday, Oct. 20, inside a wood pellet storage dome operated by Enviva at the Port of Pascagoula, triggering emergency efforts to control the incident and protect surrounding infrastructure.

Georgia-Pacific notified employees Oct. 30 it plans to permanently shut its box plant in Mt. Olive, Illinois, by Dec. 31, according to Lauren Campen, senior manager of public affairs and communications for corrugated.

Union head expects shift reduction, extended layoff of 25 workers come November.

Corner Brook Pulp and Paper will temporarily pause newsprint production starting Monday due to low water levels impacting the ability of Deer Lake Power to supply sufficient energy to operate the mill.

The measure will result in the reduction of approximately 180 positions through unfilled vacancies, voluntary agreements, and redundancies.

Smurfit Westrock plans to permanently close a corrugated sheet and box facility in California, and 141 employees will be affected, according to a company worker adjustment and retraining notification letter the state.

Chris Stoicheff with the mill said there are no reports of injuries. It is unknown how the fire started.