Recent Articles

Reported insider trading since the last issue of PaperMoney.

The new owners of the shuttered Ponderay Newsprint in Usk, Washington, have formally requested enough power to restart the mill and build what could be one of the largest cryptocurrency mining operations in the country.

Saica Group, a leading manufacturer of recycled paper for corrugated board, recently announced it will be investing $800 million in the U.S. market, growing through strategic acquisitions or new plant construction during the next five years. This growth follows last year's announcement of Saica's first U.S. corrugated plant in Hamilton, Ohio, scheduled to open in early 2022.

Metsä Group is planning to construct a new Kerto LVL mill on its expanding mill area in Äänekoski, Finland. The final decision on the investment, the value of which is approximately Euro 200 million, is pending the completion of a local detailed plan for the area. The new Kerto LVL mill is expected to use around 375,000 m3 of log procured from Finland.

RR Donnelley issued notice it would permanently close its Lewisburg plant in November, with an estimated 70 employees losing jobs.

The Carlyle Group has consulted banks about either selling or taking Novolex public in a deal that would value the South Carolina-based packaging company at around $6 billion, news outlets reported.

Roger Stone, who built his family's paper firm into a $6 billion industry leader through leveraged acquisitions that ultimately forced its sale, died Sept. 12 at his Lake Forest home, according to his daughter, Karen Stone Kaplan. He was 86 and had been in failing health.

Ahlstrom-Munksjö announced it plans to temporarily idle No. 8 paper machine in December 2021 at its Rhinelander mill. It will also idle its No. 20 supercalender and No. 21 rewinder in July 2022.

Södra's sustainable timber construction business is expanding - all the way to Denmark. Södra already operates in Denmark but is now establishing a new position in CLT across the country and expanding the existing business.

Paper Excellence has allocated $550 million in capital investments to refurbish and upgrade the facility.

Worker was charged with attempted murder, aggravated assault with a firearm, false imprisonment and improper exhibition of a dangerous firearm

Global Win Capital Corporation (GWCC) ultimately owned by Shanying International, announced the appointment of Michael Grimm as its new president and chief executive officer. Grimm assumes day-to-day leadership of the North American business unit and underlying investment in North America which includes Phoenix Paper Wickliffe LLC. Mr. Grimm brings more than 30 years of relevant manufacturing experience to his new role.

Phoenix Paper finished a $5 million recommissioning project for its pulp dryer at its Wickliffe Mill. The addition of the pulp dryer will allow Phoenix Paper to more efficiently operate the back end of the mill, as well as add a secondary product of baled pulp.

The MM (Mayr-Melnhof) Group has appointed Päivi Suutari as the new Managing Director of MM Kotkamills. She will start in her role on October 1.

The $250 million One Sky mill plans to have to the ability to produce 600 million square feet (3/8-inch basis) of OSB annually.

Truvant, a global provider of high-quality packaging services solutions, recently signed a lease and has begun interior construction of a world-class 355,517 square foot building in Hazlet, TX, within the Dallas/Fort Worth metro area. The latest expansion supports Truvant's continued growth and will increase its global network of packaging services facilities, allowing it to better serve its customers in North America. The facility is expected to open in early 2022.

Due to wildfires in British Columbia, slowing orders for forest products, constraints on the availability of resins used in the manufacture of panel products, transportation service interruptions and overall inventory levels, West Fraser has adjusted output at its British Columbia SPF, US South SYP, North American OSB and Canadian plywood facilities by between 5% and 10% of available capacity over the first two months of the third quarter of 2021.

Pactiv Evergreen Inc. announced that its wholly-owned subsidiary, Pactiv Evergreen Group Holdings Inc. has reached a definitive agreement to acquire Fabri-Kal, a leading manufacturer of foodservice and consumer brand packaging solutions.

That company could liquidate it.

The Supervisory Board of Lenzing AG, the world's leading producer of wood-based cellulosic fibers, has come to a mutual agreement with its longstanding Chief Executive Officer Stefan Doboczky to end his contract.

Walter Tarnowsky, in a statement, said "it was a minor fire that was extinguished by mill crews" and that there were no injuries.

Paper demand is not expected to recover from current levels, but the decline in demand is forecast to continue at the same or a somewhat slower pace. This means that restructuring is necessary.

Kimberly-Clark Corporation announced that it has elected Deirdre Mahlan and Jaime Ramirez to its board of directors, effective immediately. Ms. Mahlan and Mr. Ramirez each will serve on the company's Audit Committee.

Metsä Group is now inviting applications for its apprenticeship training programme that will begin in January 2022. Approximately 50 new jobs will be offered in its production units around Finland.

The Kemi bioproduct mill project of Metsä Fibre progressing according to plan and the mill's foundation stone was laid 13 September 2021. The foundation stone was laid to the area of fibre line of the new mill by Ismo Nousiainen, CEO of Metsä Fibre, Jari-Pekka Johansson, Project Director of the Kemi bioproduct mill project, and Mika Vuoti, the on-site contact person.