Recent Articles

Paper manufacturers Packaging Corporation of America Central California Corrugated, LLC. (PCA) and Schwarz Partners LP will pay $385,000 and implement preventative measures to settle a racial harassment lawsuit seeking relief for two African American men who worked at a manufacturing plant located in McClellan, California, the U.S. Equal Employment Opportunity Commission (EEOC) announced.

Canfor Corporation is announcing a temporary reduction in Canadian production due to very weak market conditions. The production will be reduced through curtailments at all solid wood facilities in B.C. and Alberta.

Making batteries from trees

Reported insider trading since the last issue of PaperMoney.

The Arizona Commerce Authority announced that Procter & Gamble (P&G), a global consumer goods leader with a diverse portfolio of trusted, quality brands, plans to build a new manufacturing facility in Coolidge, Arizona. The facility will support P&G's fabric care portfolio, which includes products such as Tide PODS®, Downy Unstopables® and Bounce® Dryer Sheets. The new facility is expected to be operational by 2025, creating approximately 500 new jobs.

According to initial reports, smoke was seen coming from the converting warehouse at the facility.

Menasha Packaging, a retail-focused packaging design, manufacturing, and merchandising solutions provider, will expand operations in Pelahatchie, Mississippi. The $79 million project is expected to create 21 jobs.

Roseburg Forest Products began full operations of its veneer manufacturing plant Wednesday, returning 145 team members to full schedules after implementing new safety procedures and keeping city and county leaders informed since the Sept. 2 Mill Fire.

The Board has therefore approved a US$418 million investment at Somerset to convert PM2 from coated woodfree graphic paper to solid bleached sulphate board (SBS).

WestRock Company announced it has entered into a definitive agreement to wholly divest its ownership interest in RTS Packaging, LLC, to joint venture partner Sonoco Products Company for $330 million, subject to customary price adjustments. In addition, the Company has signed a definitive agreement to sell its uncoated recycled paperboard (URB) mills in Eaton, Indiana, and Aurora, Illinois, to Ox Industries for $50 million.

Crews battled a big fire Tuesday night, Nov. 8, at a waste paper plant on the property of Sonoco of Hartsville, according to an official.

The fire was located deep into the warehouse of the smoke-filled facility and was surrounded by stacks of other pallets of product, making locating and extinguishing the fire difficult.

Greif, Inc. announced it has entered into a definitive agreement to acquire Lee Container Corporation, Inc. ("Lee Container" or "Lee"), an industry-leading manufacturer of high-performance barrier and conventional blow molded containers, for a purchase price of $300 million before taking into consideration tax benefits with an estimated net present value of approximately $30 million.

"We are disappointed with the vote for industrial action, particularly at a crucial time for all of our customers," a DS Smith spokesperson said.

No one was injured in the incident.

Western Forest Products has temporarily shut down APD Sawmill in Port Alberni for the next six months, putting more than 100 forestry employees out of work.

Stora Enso invested EUR 80 million to centralise and modernise wood handling at Imatra Mills to enhance its production capabilities for premium packaging board. The investment will additionally reduce the consumption of process water and mitigate environmental impacts. The project, which started up in the first quarter of 2021, is now complete.

This will mean the loss of 85 jobs.

The shutdown will impact 31 of the 106 employees.

Appvion, a Wynnchurch Capital, L.P. ("Wynnchurch") portfolio company, announced the addition of Nekoosa Coated Products, LLC ("Nekoosa" or the "Company") to the platform. Headquartered in Nekoosa, Wisconsin, Nekoosa is a leading provider of specialty engineered materials for the graphics and commercial print markets in North America and Europe.

Louisiana-Pacific Houlton is starting a $400 million expansion to its New Limerick plant to double the production capacity of SmartSide Siding and Trim, which is engineered wood strand technology that protects against hail, wind, moisture, fungal decay and termites, the company said.

Ahlstrom perpetuates its 50-year commitment and support to the global Filtration industry by investing EUR 2 million in a new laminator at Louveira plant, Brazil. With a planned installation in 2023, the equipment is expected to be fully operational by Q1 2024.

Rayonier Inc. announced that the company has entered into two separate agreements to acquire approximately 172,400 acres of high-quality commercial timberlands located in Texas, Georgia, Alabama, and Louisiana for an aggregate purchase price of approximately $474 million from Manulife Investment Management, a leading timberland investment manager.

Ahlstrom will start a strategic transformation program "Stella" to redesign and renew its business platform. This will greatly benefit Ahlstrom's way of doing business by utilizing data and the opportunities for further digitalization.

Resolute currently expects to complete the merger in the first half of 2023, subject to receipt of regulatory approvals and the satisfaction or waiver of the other conditions to the closing of the merger.