Recent Articles

Reported insider trading since the last issue of PaperMoney.

In the early evening on the 12th of May Sappi Europe's Alfeld Mill site, situated in Germany, reported a fire around the area of its paper machine 3. There have been no recorded casualties and an evaluation by official experts is under way to assess the cause of the fire and the resulting damage to the paper machine.

The mill has been idle since November when Niagra Worldwide purchased the property and assets at scrap prices for $2.2 million after Flambeau River Papers put the mill into a receivership saga that lasted over six months.

An explosion shook the community's industrial area May 11. The incident was sparked at the Pinnacle pellet plant shortly before 3 a.m.

While the tourism and hospitality industry has been hit hard by the coronavirus, the two pulp mills in Fernandina Beach - Rayonier Advanced Materials and WestRock - are up and running, with no layoffs or employee furloughs.

Georgia-Pacific will lay off most of its hourly employees in Toledo for a week due to lack of demand.

The Occupational Safety and Health Administration is continuing its inspection of the Pixelle Specialty Solutions LLC paper mill that was heavily damaged in an explosion April 17.

The layoffs are expected to last at least 30 days.

Firefighters responded to an explosion in Monroe early Saturday morning, May 9.

Södra has now ended the furlough scheme introduced at the sawmill and port at Mönsterås in April in light of reduced demand related to the ongoing pandemic.

Verso Corporation's Quinnesec Mill will undergo a 2-week mandatory maintenance beginning May 16th. Verso will be utilizing the services of both local and remote contractors. This is to perform an inspection.

Rayonier Inc. announced the completion of its previously announced acquisition of Pope Resources, A Delaware Limited Partnership. Unitholders of Pope Resources approved the transaction at a special meeting of unitholders held on May 5, 2020.

Graphic Packaging has notified the Louisiana Workforce Commission of 56 planned layoffs in West Monroe.

The USG building products facility in Cloquet has temporarily closed for deep cleaning as three employees have now tested positive for COVID-19.

Quad, the magazine printer that has major operations in Saratoga Springs, is looking to add two new presses at its local site in a $45 million expansion plan.

A printing company with a local history that goes back more than 100 years is closing its Henrico County plant and laying off 184 employees.

Canfor's Plateau mill, west of Vanderhoof will reopen May 11, operating only four days a week, officials said.

The Georgia Pacific facility in Madison would remain closed until at least May 4 after eight employees tested positive for the coronavirus and one employee died from the highly contagious upper-respiratory disease. The plant has more than 100 employees self-quarantining after coming into contact with those who tested positive for COVID-19.

North Pacific Paper Co. in Longview has cut staff and curtailed production in response to a "significant, sudden change" in orders due to the coronavirus, company officials said.

Resolute Forest Products Inc. is temporarily laying off more than 1,000 workers mainly in Quebec because of the COVID-19 pandemic.

McGraw-Hill and Cengage announced that they have mutually agreed to terminate their proposed merger of equals, which had been announced in May 2019. The decision was unanimously approved by the Boards of Directors of McGraw-Hill and Cengage. The Termination Agreement foresees no payment of a break fee on either side.

An employee at Sonoco of Hartsville was injured in a workplace accident Monday night at the company's number 4 mill, according to Brian Risinger with Sonoco Corporate Communications.

IT Tech Packaging, Inc. announced the Company plans commercial launch of a new tissue paper production line (the "PM10").

Georgia-Pacific will "cease operations" at its lumber facility in DeQuincy due to market conditions, the company announced over the weekend.

Greif announces the closure of its La Palma, CA plastics and fibre facility. The widespread and diverse economy throughout California requires a more strategic and dedicated approach to the unique business dynamic.