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The PM40 closed Friday, 14 November 2025, at 5063.

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 14 November 2025 down 13% from the 15 November 2024 level.

In this issue of Disconnected Comparisons, we evaluate Mercer International and PotlatchDeltic.

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

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, more than 150 papermaking innovators and legends have been enshrined. This month, we profile the late Morris W. Kuchenbecker, who was inducted into the Hall of Fame in 2002.

Does your company give out individual safety awards?

Genera, a leading U.S. manufacturer of sustainable packaging, has successfully started up advanced non-wood pulping and stock preparation systems supplied by international technology group ANDRITZ.

Shanying Suzhou Paper has commenced operations of its new PM 71 paper machine at its mill in Suzhou, China, strengthening its annual corrugating medium output by 350,000 tons.

Acquisition will bring industry-leading innovation and best-in-class service to enhance customer experience and value.

Valmet has been awarded a Gold Medal in the EcoVadis sustainability assessment, placing the company among the top 5% of more than 150,000 companies assessed worldwide.

Valmet has announced that, starting November 10, the company will begin negotiations aimed at implementing temporary layoffs within its Packaging and Paper business area, as well as units within Global Supply in Finland.

Valmet introduces the next-generation Valmet Wet End Analyzer, designed to help paper, board, and tissue producers improve wet end processes to achieve superior product quality, improved process stability, and reduced operating costs.

Avery Dennison Graphics Solutions has announced its 2026 training and certification exam schedule. The expert-led workshops provide in-depth, hands-on instruction with a wide range of films, including Supreme Wrapping Film™/Vehicle Color Change, Commercial Wraps, Wet-Apply and Dry-Apply Paint Protection Film, and Automotive and Architectural Window Film. All skill levels are welcome. No previous experience is required.

Cascades Inc., a leader in eco-friendly recycling, packaging and hygiene solutions, is proud to announce that it has recently been recognized by several renowned organizations for its commitment to sustainable development. These honors reflect Cascades' continued excellence in social responsibility and environmental performance.

At the 82nd Annual Paperboard Packaging Competition (PPC Awards) on November 5, Graphic Packaging secured nine wins, demonstrating how intelligent packaging design addresses real challenges across the food, beverage, healthcare, and beauty sectors. The wins include the prestigious Richard DePaul Award, five Gold Awards, and three Excellence Awards.

Graphic Packaging International ("Graphic Packaging"), a global leader in sustainable consumer packaging, has invested in six state-of-the-art equipment solutions at its facility in Poznań, Poland, reinforcing its position as one of Europe's premier packaging manufacturing plants for both high-end beauty packaging and high-efficiency food packaging.

Company's support of veteran-focused housing and training initiatives strengthens its commitment to Building a Better World™

Mondi, a global leader in packaging and paper, has completed the transition to polyethylene (PE)-free wrappers for its entire Mondi-branded cut-size paper portfolio produced at Mondi SCP in Ružomberok, Slovakia. The Neusiedler mill in Austria is scheduled to complete its transition to PE wrappers by 2026. This milestone strengthens Mondi's position as an industry leader in sustainable paper solutions and supports customers in meeting sustainability goals and regulatory requirements.

UFP Factory Built introduces BRAWN™, a brand of structural and custom components engineered to make factory-built homes, RVs, and cargo trailers stronger, more reliable, and easier to build. Backed by UFP Industries' decades of experience in sourcing, engineering, and manufacturing expertise, BRAWN delivers performance, precision, and peace of mind.

UFP Packaging announced that its corrugated division has received the Forest Stewardship Council® (FSC®) Chain of Custody standard and the Sustainable Forestry Initiative® (SFI®) Chain of Custody and Corporate Policies standards. The certifications demonstrate the company's commitment to ensuring its fiber comes from sustainably managed sources and help customers meet their own sustainability and sourcing requirements.

UPM Specialty Papers has launched an improved version of its proprietary UPM Forte™ precoating technology that helps labelstock manufacturers and siliconizers maximize the competitiveness of their production and can also support their sustainability goals. UPM Forte is now available across a wide range of UPM glassine papers.

Board takes action to protect long-term value for all shareowners in response to Atlas Holdings' termination of cooperation agreement.

Interfor Corporation reported a net loss of $216 million for the third quarter of 2025, compared with earnings of $11 million in the prior quarter. Adjusted EBITDA was a loss of $184 million on sales of $689 million, versus a gain of $17 million on $781 million in Q2.

Net income was $34 million, less than half the previous quarter's result.

Sappi Europe will raise prices for its coated mechanical reels by 5 to 7%, effective 1 January 2026. The company cites persistently high costs for energy, transport, labour, chemicals and fibre as the primary driver for the increase, noting that internal efficiency measures have been insufficient to offset the structural cost pressures.

Suzano, the world's largest pulp producer, announces its results for the third quarter of 2025 (3Q25), reporting sales of 3.6 million tonnes of pulp and paper combined, a 20% increase on the same quarter last year (3Q24). The positive result is driven by the operations of the Ribas do Rio Pardo pulp mill, inaugurated in 2024, and by the integration of paper production from assets acquired in the United States in October 2024.

Essity has selected Accenture and Microsoft to help the global hygiene and health company accelerate the use of AI agents to unlock value and drive efficiencies and growth through improved business agility.

World's largest pulp supplier, Suzano, has entered into a new collaboration with INSEAD, one of the world's leading graduate business schools.

Minister of Energy and Natural Resources Tim Hodgson and Secretary of State for Defence Procurement Stephen Fuhr met with forest sector workers in Castlegar, British Columbia, to present Budget 2025 investments supporting Canada's forest industry.

Over €40m was invested in the brand new site, which will provide packaging solutions for clinical trials and regulated pharma packaging.

Essity has entered into an agreement to acquire Edgewell Personal Care's feminine care business, including the brands Carefree, Stayfree and o.b. in North America and Playtex globally. The purchase price for the assets amounts to USD 340m (approximately SEK 3.2bn) on a cash and debt-free basis.

The combined company would bring together brands like Huggies and Kleenex with the likes of Band-Aid and Tylenol. It would generate estimated 2025 annual net revenue of roughly $32 billion.

PaperWorks Industries Inc., a leading North American producer of 100% recycled paperboard and folding carton packaging, announces the acquisition of Color Craft Graphic Arts ("Color Craft"). Founded in 1929 and based in Manitowoc, Wisconsin, Color Craft is a producer of packaging for food, beverage, and household goods.

Sealed Air Corporation, a leading global provider of food and protective packaging solutions, announced Nov. 17 that it has entered into a definitive agreement to be acquired by funds affiliated with CD&R, a leading private investment firm with deep experience in the industrial and packaging industries, in an all-cash transaction with an enterprise value of $10.3 billion.

Sonoco said net proceeds will be applied towards repaying existing borrowings.

The Compton facility closure will impact 125 employees, while the Louisville facility closure will impact 93 employees.

LP Building Solutions (LP), a leading manufacturer of high-performance building products, announced that Chief Executive Officer Brad Southern will retire effective February 19, 2026, after leading the company since 2017.

The estimated need for personnel reductions in the change negotiations was up to 315 employees, of which 155 were in Finland. The change negotiations in Finland have now concluded, resulting in a total reduction of 150 positions.

Mohawk Industries Chief Financial Officer James Brunk will retire on 1 April 2026, concluding a 20-year tenure during which the company became a global flooring leader. Nicholas Manthey, the company's current Vice President of Corporate Finance and Investor Relations, has been appointed as his successor.

Following the strategic review, the Board of Directors of Stora Enso has decided to initiate preparations for the separation of the Swedish forest assets business of Stora Enso into a new publicly-listed company through a statutory partial cross-border demerger, expected to be completed during the first half of 2027. All shares in the new company would be wholly owned by Stora Enso's shareholders.

The hiatus for Washington County's largest employer is due to a downturn in the global pulp market and comes after increases in tariffs on Canadian lumber.

International Paper has announced a proposal to close five sites in Germany, affecting approximately 500 roles, as part of its strategic review to enhance efficiency and respond to challenging market conditions.

New Senior Leadership Announced for EMEA/APAC and Americas.

Stora Enso is initiating a strategic review of its Central European sawmills and building solutions operations. The review, to be carried out in 2026, will cover one business unit of Wood Products business area, including seven sawmills in Austria, Czechia, Poland, and Lithuania, and further processing units with three cross-laminated-timber (CLT) mills, as well as wood procurement, and international sales and distribution operations. Whilst the business in scope has a strong position in an attractive market, it does not bring strategic or operational synergies for Stora Enso's core renewable packaging operations.

PotlatchDeltic Corporation, as part of the global Forestry Natural Capital Project, joined 17 other forestry organizations representing stewardship of forests in 38 countries, in unveiling a major milestone in the sector's global collaboration to make nature's value visible in financial decision making.

This international recognition reinforces Lecta's commitment to a new era of responsibility for paper packaging and positions EraCup Natural among the most advanced solutions on the market.

Metsä Board's recent comparative life cycle assessment* compared the carbon footprint of berry trays made from three different materials: MetsäBoard Prime FBB EB, PET and recycled R-PET.

In early 2026, a pilot project for carbon capture will be launched at the Värö industrial site. The initiative aims to build knowledge around the technology and explore new business opportunities using biogenic carbon dioxide as a raw material.

UPM Communication Papers is launching a new climate action roadmap, marking a significant milestone in accelerating its climate actions.

UPM Energy's ultracapacitor at the Kuusankoski hydropower plant is now operational. The six-megawatt device stores energy and provides balancing power to the electricity grid. The need for fast and flexible balancing power has increased with the growing use of renewable, weather-dependent forms of energy, such as wind and solar power. The investment, announced in August 2024, triples UPM's ultracapacitor capacity and further strengthens the ability of hydropower to balance the electricity grid quickly and efficiently.

The change negotiations cover the entire staff of Lappeenranta, Rauma, Renko and Vilppula sawmills, approximately 350 people.

Vice President Darren Pelley says significant rainfall is needed to get back to normal operations at the mill. He says this is financially quite challenging being shut down but Kruger's $700 million transformation plan for the mill, which was announced in July, has now become more urgent.

Smurfit Westrock plans to close a Georgia facility and permanently lay off 55 employees, according to a worker adjustment and retraining notification filed with the state on Nov. 10.

Stora Enso's mill in Bad St. Leonhard, Austria, has produced over 1 million m3 of cross-laminated timber (CLT), becoming the first site within the company to reach this volume. The mill, which began CLT production in 2008, has supplied material for approximately 15,000 projects worldwide.

Citing a drooping softwood lumber demand, compounded by higher duties and additional tariffs that have reached 45 per cent for U.S. markets, West Fraser Timber announced Thursday its plans to permanently shutter both its Augusta, Ga., and 100 Mile House lumber mills by the end of 2025.