The industry has a more or less interesting year every year. This one has fit into the more interesting category. If one looks at the "Closures and Cutbacks in 2025" and "Capital Projects of note in 2025" (just one column to the right of where you are reading now) they don't seem much different than other years we have recorded there.

What may be different is the closure of some famous old properties, such as International Paper (formerly Union Camp) in Savannah, Georgia.

One would have to be too close to the forest to see the trees to be surprised by that one. Perhaps no one could save it, but to save it they would have had to start ten to fifteen years ago and severely changed the assets and interconnections on its campus.

I think the railroad industry may be a good parallel to pulp and paper. The railroads in the United States went from steam engines being the primary movers to diesel-electric in only twenty-five years. The paper industry still has the equivalent of a dozen to two dozen "steam engines" left that need to be retired.

When markets are a bit soft, like they were this past year in containerboard, the obsolete and inefficient get scrapped. When prices are better, they hold on for a while.

Nothing brilliant here, but if you work in a very old mill and have half or more of your career left, you might want to consider your options.

Jim Thompson is CEO of Paperitalo Publications.