Recent Articles

UFP Industries, Inc. announced that President and COO Pat Webster will retire at the end of 2022 after a remarkable career spanning nearly four decades at the company. Over the next several months, Pat's duties will be transferred to existing or new members of the leadership team as part of the company's 2020 reorganization plan.

Essity has initiated an exit from the Russian market, according to the company's quarterly report. Essity's conditions to pursue business in Russia have worsened, the company said. As a result, the Essity's assets in Russia were impaired by approximately SEK 1.4 billion ($146.7 million).

UPM and the Paperworkers' Union have agreed on first-ever business-specific collective labour agreements for five UPM businesses. The strike at UPM mills in Finland will end immediately and employees will return to work. The strike covered UPM Pulp, UPM Communication Papers, UPM Specialty Papers, UPM Raflatac and UPM Biofuels units in Finland. UPM will restart customer deliveries as soon as possible.

Stora Enso has entered into an agreement to divest its two sawmills in Russia. The Company's Nebolchi and Impilahti sawmills will be divested to local management. In addition, the divestment includes Stora Enso's Russian forest operation which through its harvesting supplies wood to the sawmills.

The multi-million-dollar investment will strengthen Amcor's leadership in the growing industry for sterile packaging, offering customers in Europe and North America another site with comprehensive healthcare solutions.

Firemen from Castanea, Lock Haven and the surrounding area were in service for three hours responding to a late Tuesday morning (April 19) alarm at First Quality's Lock Haven Tissue facility.

Canfor Corporation will invest approximately $130 million to significantly upgrade and expand its sawmill and planer facility located in Urbana in Union County, Arkansas. The investment will capitalize on the abundant supply of high-quality fiber to enhance the manufacturing of high-value products, increase annual production at the facility by 115 million board feet, and result in a meaningful reduction in the facility's cost structure.

Weyerhaeuser Company announced an agreement to purchase 80,800 acres of high-quality timberlands in North and South Carolina from a fund managed by Campbell Global for approximately $265 million.

In order to help facilitate the Company's financial restructuring, Dunn Paper's Board of Directors has named David Coles as Chief Restructuring Officer. Mr. Coles is a seasoned financial restructuring expert and a Managing Director of Alvarez and Marsal, a leading restructuring firm.

Domtar has agreed to transfer ownership of the land to NCC for $7 million below its appraised value as a part of this partnership.

Apollo announced that funds managed by Apollo affiliates have completed the acquisition of a majority stake in Novolex Holdings LLC, a leading global manufacturer of diverse and sustainable packaging products for the foodservice, delivery and carryout, food processor and industrial markets, from funds managed by Carlyle. Carlyle will retain a minority stake in the Company.

We have talked in this column in the past about turmoil in society reflected in the pulp and paper industry. Turmoil today seems to be worse than we have seen in a long time. From environmental activism to war to inflation to threats of hacking to evaporating world markets, the pulp and paper industry is being hit on many sides with existential threats. This is where solid managers shine, finding ways to take advantage of the conditions on one hand while playing defense with the other.

Have you ever lied to your boss?

The PM40 closed Friday, 29 April 2022, at 4473.

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 29 April 2022 up 3.3% from the 30 April 2021 level.

In this issue of Disconnected Comparisons, we evaluate Amcor and Louisiana Pacific.

Stora Enso will invest EUR 10 million at its Enocell pulp mill in Finland to replace fossil-based heavy fuel oil with renewable pitch oil. This will reduce the environmental impact of the operations and help in reaching the ambitious target for reducing greenhouse gas emissions.

Building on our comprehensive sustainability strategy announced in October 2021, Canfor Corporation is announcing the implementation of a comprehensive plan to achieve net-zero carbon emissions by 2050.

Columbia Pulp LLC, headquartered in Dayton, was ordered to hand over its assets to a property management group just a few days before a court order would have mandated an auction of the multi-million dollar pulp mill on the Columbia County Courthouse steps.

Mercer International Inc. announced its 35% Greenhouse Gas reduction target by 2030 has been approved by the Science Based Targets initiative (SBTi) as consistent with the levels required to meet the goals of the Paris Agreement. The approval formally recognizes Mercer as a leading company and the first in Canada and one of the first North American companies in the forest and paper products sector with approved targets.

Neenah, Inc., a leading global manufacturer of materials focused on filtration media, specialty coatings, engineered materials as well as imaging and packaging, announced a versatile paper-based medical packaging capable of withstanding all three widely used sterilization processes, including radiation, autoclave, and ethylene oxide.

Huhtamaki, a key global provider of sustainable packaging solutions, announces a first-to-market sustainable innovation for the global pharmaceutical and healthcare industry. Huhtamaki's Push Tab® blister lid is mono-material PET and free from aluminum.

Sappi Europe informs customers about ongoing challenges to cope with further increases of pulp, energy, chemicals and transportation costs.

Ahlstrom-Munksjö reinforces its commitment to the PSA (Pressure Sensitive Adhesive) industry worldwide by launching its biggest-ever global range of sustainable release papers for silicone coating.

Sun Chemical has launched ElvaJet Onyx SB - a new sublimation ink for textile printing. ElvaJet Onyx SB addresses market needs by delivering a high-performance ink that offers ease of use for wide-format textile printers.