Market News of Note

This price action is necessary to offset increased input costs, the company insists.

According to GEF, the tube and core and protective packaging products price increase is a consequence of the URB price increase, the primary raw material contained in those products.

Conifex Timber Inc. announced that it has completed a $25 million secured term loan with PenderFund Capital Management Ltd. ("Pender"), an independent investment firm located in Vancouver, British Columbia, Canada. A portion of the term loan was utilized to repay and retire Conifex's existing lumber segment credit facility with Wells Fargo Capital Finance Corporation Canada in the amount of approximately $11 million. The balance of the term loan will be available for working capital and general corporate purposes.

The recent financing, which includes new capital investment and amendments to the Company's credit facilities, was completed in collaboration with the Company's existing lenders and has substantially bolstered the Company's cash liquidity position.

Hygiene and health company Essity is presenting new financial targets based on the company's portfolio following the divestment of the subsidiary Vinda. The new targets are an increase in ambition with an emphasis on profitable growth and are based on the company's robust platform with leading positions in growing and attractive markets.

Due to continuous cost increases, Felix Schoeller will raise its prices for release liners globally from June onwards.

During Södra's general meeting in Kalmar, a decision was made to distribute the profit distribution of SEK 1,474 million to the members. During the meeting, evaluation of the southern model, development of the business model and the risk that species protection could render the forest owner disenfranchised were highlighted.

World's largest single pulp production line is set to commence operations in the coming weeks.

Stora Enso estimates that the previous full year 2024 adjusted EBIT guidance will be exceeded, thanks to successful implementation of profit improvement actions and more favourable market conditions.

Brazilian pulpmaker Suzano will maintain its capital discipline and would not make any move solely aimed at growing, as it is focused on adding value for shareholders, Chief Executive Walter Schalka said.

Government acknowledges need for more supply, blames closures on corporate decisions, markets.

The Board of Directors of Sonoco increased its quarterly common stock dividend to $0.52 per share from the previous quarterly distribution of $0.51 per share. This new dividend will be paid on June 10, 2024, to shareholders of record as of May 10, 2024.

Given the market conditions and macro-environment, the first quarter result is in line with expectations. The result reflects the weak trend in construction activity and decreased supply in the raw material market.

Company says it is seeing early financial benefits from recent closures of some of its lumber mills.

Sonoco announced it is implementing a 6% price increase for tubes and cores products sold in Mexico starting with May 2024 deliveries.

This increase is necessary to maintain the viability of Sappi's business, the actual amount will depend on the product group: Flexible packaging - 15%, Release liner (CCK & Glassine) - 15%, Label papers - 10%.

In 2023, North America's net sawmill capacity decreased by 2%, triggered by diminishing lumber demand and past overproduction issues, according to a report by Russ Taylor Global. This trend has led to the permanent closure of nine sawmills and reductions in shifts, particularly in British Columbia (BC) and the US South, where economic pressures have also forced mills to shut down to balance timber supplies.

Kimberly-Clark raised 2024 sales and profit forecasts after it topped quarterly expectations, banking on higher pricing and steady demand for its premium personal care and household products, sending its shares about 8% higher in early trading.

Prices for Coated and Uncoated Fine papers were increased during January and February but not to the levels necessary to maintain a viable business. Cost levels, particularly for pulp and transport have continued to increase heavily and are expected to escalate further in the coming months.

Interest in raw materials from family forestry is growing as more and more people see the importance of the forest and opportunities to contribute important solutions to the great challenges of our time. As part of meeting demand, Södra implements price increases on several timber ranges.

DS Smith PLC on Thursday said that an extension had been agreed for its potential takeover by Mondi PLC, though the company still holds a more lucrative offer from International Paper.

Enviva Inc. received a notice from the New York Stock Exchange on April 2, 2024, regarding its non-compliance caused by a delay in filing its 2023 Annual Report. The company has a six-month window to correct this and maintain its stock listing.

Rengo Co., Ltd. announces that it will revise the prices of its corrugated board/carton and folding carton. An increase of 10% or more over current prices will be applied to all consignments delivered from April 1, 2024 onwards.

Sonoco announced it is implementing a €60 per ton, £50 for UK market, price increase for all grades of uncoated recycled paperboard (URB) sold in Europe effective for deliveries after 15th April 2024.

This increase is necessary to maintain the viability of Sappi's business, the actual amount will depend on the product.