Sylvamo (SLVM) has been added to Paperitalo Publications' PM40.
PM40 is short for PaperMoney 40 publicly traded stocks. The PM40 contains 40 companies engaged primarily in forestry, pulp and paper manufacturing, converting, and printing. Our criterion for selection is as follows:
• Geographic Limitations--none
• Stock Exchange Listing--must be listed on a US exchange (to eliminate the effects of currency fluctuations). American Depositary Receipts (ADRs) are eligible for inclusion.
Also, any PM40 candidate must be primarily dependent on cellulose in any form for business health. In other words, Kimberly-Clark is included, but Procter & Gamble is not.
Sylvamo, described as "the world's paper company," is headquartered in Memphis, Tenn. and began normal trading on the New York Stock Exchange Oct. 1, 2021 after International Paper spun off its printing papers unit earlier in the year. Sylvamo employs more than 6,500 people worldwide, with mills in Europe, Latin America and North America.
Sylvamo was selected to replace Resolute Forest Products (RFP) on the PM40 when Resolute's common stock ceased to be listed on the the New York Stock Exchange and the Toronto Stock Exchange after the Paper Excellence Group, through its wholly-owned subsidiary Domtar Corporation, on March 1 announced the successful closing of its previously announced acquisition of Resolute Forest Products Inc.