A powerful earthquake (now rated at 9.0 magnitude) and resulting tsunami have caused widespread destruction in northeast Japan.
The PM40 closed 04 March 2011 at 2072.90
The PM40 closed 04 March 2011 up 26.6% compared to the 05 March 2010 level.
In this issue of Disconnected Comparisons, we evaluate Buckeye Technologies Inc. (BKI) and Greif, Inc. (GEF).
Reported insider trading since the last issue of PaperMoney.
Metso will supply a complete tissue production line to Jeesr Industries for their mill in Berrechid, Morocco.
Vaahto Pulp & Paper Machinery has received significant equipment orders from Dubai and Asia Paper in Korea.
Market News of Note
Potlatch has announced plans to withdraw the listing of its common stock from the Chicago Stock Exchange.
Acadian Timber Corp. is pleased to announce the successful closing of the refinancing of its Canadian and U.S. dollar denominated loan facilities.
China Shengda Packaging Group is purchasing land use rights in Yancheng City, Jiangsu Province, to build a paper manufacturing plant.
Mergers & Acquisitions
Cascades has agreed to sell Dopaco to Reynolds Group for USD 400 million in cash.
Central National-Gottesman's Lindenmeyr Munroe division has acquired the Hudson Valley Paper Company.
The Euroepan Union regulatory process concerning UPM's Myllykoski transaction is proceeding to the second phase of review.
Conifex Timber has initiated an approximately CAD 45 million bioenergy generation project at its Mackenzie sawmill site in British Columbia.
Domtar Distribution Group has changed its name to Ariva.
Holmen will close the smaller paper machine, PM 61, at the mill in Madrid, Spain.
Mercer International has completed a preliminary feasibility analysis for possible optional production of dissolving pulp at its Zellstoff Celgar mill in Canada and Stendal mill in Germany.
Packaging Dynamics announced a facility consolidation initiative within its BagcraftPapercon food packaging business.
Cascades is consolidating its Norampac corrugated products operations in the New England region.
It is somewhat ironic that the Australian pulp and paper industry was built on the back of research, development, and innovation but now finds itself characterized by significantly declining investment in R&D.
Two mills operated by Catalyst Paper in British Columbia will receive from federal funding through Canada's Pulp and Paper Green Transformation Program.
George H. Glatfelter II is resigning as chairman, of Glatfelter, effective 04 May 2011, to be succeeded by Dante C. Parrini.