From Wikileaks to Wall Street malfeasance to government regulation, we are seeing the ramifications of moving from a paper age to an electronic age.
The PM40 closed 26 November 2010 at 1811.57, down 3.9% from our last report – 05 November 2010.
The PM40 closed 26 November 2010 up 24.4% compared to the 27 November 2009 level.
In this issue of Disconnected Comparisons, we evaluate Wausau Paper Corp. (WPP) and Cenveo, Inc. (CVO).
Reported insider trading since the last issue of PaperMoney reflects sales of 157,698 shares at an average price of USD 28.79 per share and purchases of 95,114 shares at an average price of USD 12.16 per share.
Holmen Paper has commissioned Voith to deliver two quality control systems for its Braviken mill.
Kadant Inc. today announced that it has received orders totaling USD 17.6 million from four containerboard producers in China.
Metso will rebuild two board machines for M-real in Finland to increase capacity
The St. Joe Company has entered into a new pulpwood supply agreement with Smurfit-Stone Container Corporation.
Earnings & Dividends
Greif, Inc. plans to release fourth quarter results on 08 December 2010.
The board of directors of MeadWestvaco Corporation have declared a quarterly cash dividend to USD 0.25 per share.
Neenah Paper, Inc. announced that its board of directors has approved a 10% increase in the annual dividend.
Clearwater Paper Corp. has extended the early tender deadline for the cash tender offer to purchase any and all of Cellu Tissue Holdings, Inc.
EACOM Timber Corporation has entered into a CAD 50 million agreement with GE Capital in Canada.
Preliminary results indicate that Voith Hydro Inc. did not conform to applicable accounting rules.
Labor & Union Actions
Smurfit-Stone Container Corporation announces that the UNIK Local 34 union at the La Tuque, Quebec, mill in Canada rejected the company's contract offer tendered on 10 November.
Orient Paper, Inc. today commented on the results of the independent investigation conducted by the Company's audit committee.
Kruger Products announced that an innovative heat recovery technology is now in its Gatineau mill.
MeadWestvaco announced a significant investment to its corrugated packaging business in the Brazilian market.
Stora Enso is investing EUR 30 million in its newsprint machine at the Sachsen mill in Germany.
Mergers & Acquisitions
Fraser Papers Inc. announced today that M&M would not be completing the acquisition of the company's paper mill in Gorham, New Hampshire, USA.
MeadWestvaco Corporation has agreed to sell its Envelope Products Group to Cenveo, Inc. in Stamford, Connecticut.
Pactiv Corporation stockholders approve merger by Reynolds Group Holdings Limited.
Pöyry has acquired 60% of the shares of Silviconsult Engenharia Ltda.
Domtar Corporation today announced the on-schedule start up of its new fluff pulp machine in Plymouth, North Carolina.
PMT Italia S.p.A. announces the formation of its Finnish subsidiary located in Valkeakoski Finland.
TerraPointe LLC. recently gained land use approval for its 1800-acre Crawford Diamond Industrial Park.
UPM will increase the label paper production capacity at its Tervasaari mill in Valkeakoski, Finland.
West Fraser will proceed with an energy efficiency upgrade of the pulp machine at its Hinton Pulp operations.
U.S. Bankruptcy Court has issued an opinion confirming AbitibiBowater's plan of reorganization
Fraser Papers Inc. and its subsidiaries have filed a consolidated plan of compromise.
Sixty-nine years ago today, Japan launched an attack on the United States at Pearl Harbor.
Russian Natural Resources Minister Yury Trutnev has called for the Baikal pulp and paper mill to be closed.
BC Hydro is now purchasing clean electricity from the Zellstoff Celgar's Green Energy Project.
Canfor Pulp Income Fund has received approval for funding of its CAD 100 million capital project at its Northwood pulp mill.
Georgia-Pacific LLC is expanding its forest protection and sustainability efforts with an updated policy.
Plum Creek has completed the third and final phase of its sale of western forestlands to The Nature Conservancy and The Trust for Public Land.
TurboSonic Technologies, Inc. has been awarded a USD 1.25 million contract to reduce particleboard dryer exhaust in Brazil.
UPM inaugurates a terminal for the unloading and storage of suspended calcium carbonate.
Verso Paper Corp. announced today the launch of a USD 40 million renewable energy project at its Bucksport, Maine, mill.