Recent Articles

Canfor Corporation is announcing that it has entered into an agreement with Millar Western Forest Products Ltd. to acquire the company's solid wood operations and associated tenure for $420 million, including $56 million in working capital.

Warehouse workers at Veritiv, represented by Teamsters 117, have voted unanimously to authorize a strike. The strike authorization vote was taken by employees at the packaging giant's facility in Kent, WA and comes after three months of unsuccessful contract negotiations and a number of COVID-related health and safety concerns raised by workers.

Resolute Forest Products Inc. announced the indefinite idling of pulp and paper operations at its Calhoun (Tennessee) mill. Tissue manufacturing and converting will continue at the site and the adjacent distribution center will remain in full operation.

International Paper will build a state-of-the-art corrugated packaging plant in Atglen, Pennsylvania. The facility will employ approximately 150 team members.

The investment includes new production lines, new workspaces and 720 square meters of completely new production space.

R.R. Donnelley & Sons Company (RRD) Tuesday said it has agreed to be acquired by affiliates of Chatham Asset Management, LLC, a private investment firm, in an all-cash transaction with a total enterprise value of around $2.3 billion and total equity value of about $897 million. The company said it has terminated its previously announced merger deal with affiliates of Atlas Holdings LLC.

SWM International has finalized the sale of its former Spotswood, New Jersey facility to an undisclosed buyer, with net proceeds of approximately $35 million.

The strike would start at the mills on Saturday 1 January 2022 at 6.00 EET except at the Lappeenranta biorefinery, where the strike would start on 1 January 2022 at 7.00 EET. The strike would end on 22 January 2022, at 6:00 EET, unless an agreement for a new collective agreement is reached before then.

Cariboo Pulp and Paper was shut down for 16 days on November 29th, and Quesnel River Pulp was down to one third capacity for two weeks.

Damage from the Nov. 30 fire at the Packaging Corporation of America facility in Harrisonburg has been estimated at $1 million, according to a Thursday press release from Michael Parks, city spokesperson.

Brazilian pulpmaker Klabin SA announced on Wednesday it will invest 4.7 billion reais ($836.72 million) in 2022, of which 2.75 billion reais are expected to go to the development of its Puma 2 project.

CMPC says it will purchase the forest and industrial assets of the pulp, paper and sack businesses of Iguaçu Celulose, Papel S.A., located in the States of Paraná and Santa Catarina of Brazil.

Sean McLaren, currently the Company's President, Solid Wood, will become the Company's Chief Operating Officer.

The investment is a further step in Holmen's strategy to grow the wood products business and contribute to the green transition. This will increase the production at Iggesund Sawmill by 20 per cent as well as adding construction timber on top of its joinery products range.

Wynnchurch Capital, L.P., a leading middle market private equity firm, announced that it has acquired the thermal coating business assets of Appvion Holding Corp. and its subsidiaries. Founded in 1907 and headquartered in Appleton, Wisconsin, Appvion is a leading provider of specialty and high-performance direct thermal coatings for label and film solutions as well as renewable, fiber-based consumer and industrial packaging solutions.

Rayonier Advanced Materials Inc. announced that its Board of Directors elected Vito J. Consiglio to succeed Paul G. Boynton as President and Chief Executive Officer and Board member effective January 1, 2022. Mr. Boynton, who has served as President and CEO since the Company's spin-off in 2014, announced his decision to retire from the Company, and, as part of the leadership transition, he will assume the role of Vice Chair of the Board until the May 2022 Annual Meeting.

Firefighters were able to quickly contain the fire to keep it from causing any major damage to the building.

The purchase price for the acquisition is $1.35 billion in cash, subject to customary adjustments, including for working capital, cash and indebtedness.

West Fraser Timber Co. Ltd. announced that further to its news release of October 26, 2021, the Company has completed the acquisition of the oriented strand board ("OSB") mill near Allendale, South Carolina.

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, close to 150 papermaking innovators and legends have been enshrined. This month, we profile Matti Kankaanpää, who was inducted into the Hall of Fame in 2003.

The PM40 closed Friday, 17 December 2021, at 4375.

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 17 December 2021 up 21.5% from the 18 December 2020 level.

In this issue of Disconnected Comparisons, we evaluate Glatfelter and Sappi.

Apex Clean Energy announced the execution of an agreement with Weyerhaeuser for the development of 1,000 megawatts of utility-scale solar and solar-plus-storage projects on Weyerhaeuser property in the southeastern United States.