Archives

The PM40 closed Friday, 3 June 2022, at 4505.

Get the latest PM40 updates by listening to the weekly Nips show and the PM40 Daily Show on Pulp & Paper Radio International.

In this issue of Disconnected Comparisons, we evaluate Mercer International and International Paper.

The PM40 closed 3 June 2022 up 2.9% from the 4 June 2021 level.

Reported insider trading since the last issue of PaperMoney.

I am always telling the Paperitalo audience that energy has nothing to do with technology, it has everything to do with politics. This was confirmed a couple of weeks ago.

Should men open doors for women?

ABB has built on its established relationship with Cheng Loong Corporation by securing a contract to bring its L&W Autoline automated paper testing solution to a mill in Vietnam.

Andritz has successfully started up key pulping process equipment for Sun Paper's new pulp mill (Guangxi Sun Paper) in Beihai, China.

Andritz has successfully started up an environmentally friendly production plant for dissolving pulp at Bracell's "STAR" project in Lençóis Paulista, São Paulo, Brazil.

Andritz Brasil Ltda., a member of the Andritz Group, will carry out partial modernization of lime kiln B for Suzano Aracruz, Brazil, as part of a customized project for the white liquor production plant. Lime kiln B has the capacity to process 580 tons of lime per day.

Andritz has received an order from the Spanish pulp and paper producer Papelera Guipuzcoana de Zicuñaga to deliver a new LimeFlash-H lime kiln for its pulp mill in Hernani, Spain. Start-up of the new lime kiln is scheduled for the second half of 2023.

Andritz has received an order from Kim Tin MDF Chon Thanh Corporation to supply a chip washing and pressurized refining system for its new MDF production line in Minh Thanh Commune, Binh Phuoc province, Vietnam. Start-up is planned for the 3Q 2023.

President, Segment Pulp & Paper Kim Poulsen is leaving Kemira on Wednesday May 18, 2022. He has worked for Kemira and has been a member of Kemira's Management Board since 2015.

The operations at Metsä Group's and Valmet's 3D fibre product demo plant in Äänekoski has begun. At the end of 2020, Metsä Group's innovation company Metsä Spring and Valmet announced they would be investing a total of approximately 20 million euros in the demo plant.

Operations in the areas unimpacted by the fire that broke out on May 7 at Valmet's Rautpohja factory in Jyväskylä, Finland, will start returning back to normal from the beginning of this week (week 21). It is believed that returning the operations back to normal in these areas will take approximately 1-2 weeks. Valmet is also evaluating the potential need to transfer certain operations to alternative locations mostly in Finland.

Solenis, a leading global producer of specialty chemicals, closed on the acquisition of Neu Kimya Anonim Şirketi ("Neu Kimya") on May 26, 2022.

Valmet launches Valmet Mobile Maintenance (VMM) application to make maintenance data available at any time and to create smoother workflows in mill maintenance operations. VMM is a mobile application for both iOS and Android devices.

To broaden its offering for tissue machines, Valmet launches a new polyurethane roll cover, Valmet Press Roll Cover PL. The roll cover's wear-resistant material and adaptive structure are developed to cope with the harsh operating conditions in tissue production, thus leading to longer lifetime of roll cover and energy savings.

The geopolitical situation caused by the crisis in Ukraine and the intensified COVID-19 restrictions in China have reduced the orders at Valmet's valve factory in Helsinki, Finland, during spring. The exceptional situation has particularly impacted the factory's oil and gas projects. The impact of the COVID-19 pandemic in China also continues to cause challenges related to component availability and logistics.

Ahlstrom-Munksjö has pledged to create sustainable, fiber-based solutions. PurposeSeal™ is pushing the boundaries of fiber-based end-use applications.

APRIL has been awarded for its initiatives in waste paper recycling under its "Paper Once More!" Circular Economy campaign.

A global leader in industrial packaging products and services, Greif has launched a lightweight, high-performance jerrycan in Brazil suitable for packaging agrochemicals, chemicals, flavors, fragrances, and beverages.

Kimberly-Clark announced that 3BL Media has named the company to its 2022 ranking of the 100 Best Corporate Citizens, which recognizes outstanding environmental, social, and governance (ESG) transparency and performance among the 1,000 largest U.S. public companies. This marks the 13th year that Kimberly-Clark was included in the ranking.

LP Building Solutions (LP), a leading manufacturer of high-performance building products, has won Nashville Business Journal's 2022 Best in Business Award for the Public Company category.

Mondi, a global leader in packaging and paper, is presenting its broad portfolio of sustainable packaging solutions at this month's Interzoo and demonstrating how flexible packaging can drive sustainability in the pet food industry.

Quad/Graphics, Inc., a global marketing experience company, has been named one the world's 25 largest agency companies, as determined by Ad Age, the global publisher of news, analysis, and data on marketing and media. This is the third consecutive year that Quad has been included in the list.

Smurfit Kappa has developed an innovative and sustainable water-resistant paper. AquaStop™ is part of Smurfit Kappa's new TechniPaper® portfolio, which consists of an array of high-performance papers designed to handle even the most complex supply chains.

Stora Enso's new 100% virgin fiber-based kraftliner, AvantForte WhiteTop, is now commercially available. The white top kraftliner targets demanding premium segments, such as fresh food, e-commerce, and shelf-ready packaging.

Packaging Corporation of America announced that it intends to increase the quarterly cash dividend on its common stock to an annual payout of $5.00 per share from $4.00 per share, a 25% increase.

Rayonier Inc. announced that its board of directors has approved a 5.6% increase in its quarterly cash dividend to $0.285 per common share from $0.27 per common share. The dividend is payable on June 30, 2022, to shareholders of record on June 16, 2022.

Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed and screen inks, coatings, consumables and adhesives in North America, effective immediately or as contracts allow.

Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed, and screen inks, coatings, consumables, and adhesives in Europe, Middle East, Africa, effective June 1st 2022 or as contracts allow.

The board also authorized a share repurchase program to acquire up to $150 million of the company's common stock.

On June 28th at 11:00 EASTERN TIME, NOREXECO, the world's only international regulated market for trading pulp and paper derivatives, will fully explain the current state and outlook of the pulp markets in North America. Companies have historically utilized these same financial instruments for mitigation of pricing risk for energy, currency exchange, and numerous commodities, and attendees will learn that leveraging the same strategies for pulp is no different, and NO PHYSICAL DELIVERY IS REQUIRED.

Sonoco, one of the leading global sustainable packaging companies, announced favorable results from a recent study by trial with Sustana in collaboration with Kellogg's, providing new opportunities to recycle paper containers.

Mondi, a global leader in sustainable packaging and paper, has collaborated with German machine supplier beck packautomaten to create a functional paper solution that has the potential to revolutionise eCommerce by replacing plastic packaging and creating right-sized packaging for a wide range of products.

Mondi, a global leader in packaging and paper, has collaborated with Austrian mechanical engineering company EW Technology to launch a new machine for paper pallet wrapping that is more efficient and sustainable on small-to-medium production lines.

Stora Enso and wood technology company Modvion are partnering to establish wood as the material of choice for wind turbine towers. The collaboration's purpose is to demonstrate the vast possibilities in using wood in demanding constructions.

Ahead of the United Nations World Food Safety Day Tetra Pak announced its new set of research collaborations and programmes to further accelerate efforts to address challenges facing food systems worldwide.

Jim Irving, who along with his brother Robert, serves as co-CEO of J.D. Irving Ltd., appears on a list of 26 Canadians who are banned from entering Russia.

Repeated water quality violations at the Port Townsend Paper Corporation (PTPC) mill in Port Townsend led to a $27,000 penalty from the Washington Department of Ecology. Pollution above permitted levels can negatively impact the aquatic environment.

Tla'amin Nation has written to Paper Excellence laying claim to the Catalyst Paper Tis'kwat mill site and Lot 450.

The construction phase of the project is expected to generate $34 million in revenue for the county and another $38 million for New Jersey, along with 140 temporary jobs.

MM Kotkamills is investing about Euro 30 million in two state-of-the-art cross cutters with automated core and waste handling. The investment is aimed at strengthening MM Kotkamills' position as a supplier of cartonboard sheets in the European cartonboard market.

Södra is launching a major initiative to develop family forestry. Södra will invest in innovative companies that introduce new technologies for forest estates and enable a more multifaceted approach to family forestry.

Smurfit Kappa Group PLC said it investing over EUR35 million in the construction of a new packaging plant in Morocco.

With this acquisition, and after over 100 years of development through legacy companies as a global phenolics leader, Bakelite Synthetics adds to its strong portfolio of products, brand and customers, as well as building on its growth strategy of delivering innovative solutions to customers in a sustainable manner.

Kimberly-Clark Corp is planning to sell its tissue paper assets in Brazil and Latin America, newspaper Valor Economico reported, saying the company is in talks with JPMorgan to reassess its business in the region.

The Kamloops facility, which manufactures northern bleached softwood kraft pulp (NBSK) and unbleached softwood kraft pulp, will continue to operate as usual, honouring all existing volume commitments and agreements with customers and suppliers. The Mill's 320 jobs will be maintained. In addition, Kruger intends to maintain ongoing initiatives to continue modernizing the Mill.

Lindsay Goldberg, a leading private investment firm that focuses on partnering with families, founders, and management teams seeking to actively build their businesses, announced it has successfully completed the sale of Pixelle Specialty Solutions Holding LLC, a leading provider of fiber-based specialty solutions in North America. Terms of the transaction were not disclosed.

Potlatchdeltic Corp., a real-estate investment trust focused on owning timberland, has agreed to buy rival CatchMark Timber Trust Inc. in an all-stock deal that values CatchMark at more than $600 million.

Stora Enso has divested its three corrugated packaging plants in Russia. The Company's Lukhovitsy, Arzamas and Balabanovo packaging plants have been divested to local management.

As previously announced, Julie Schertell, President and Chief Executive Officer of Neenah, will serve as President, Chief Executive Officer, and a member of the Board of Directors.

UPM Raflatac has signed an agreement to acquire AMC AG (Advanced Methods of Coating), a Germany-based company. This acquisition accelerates growth and expands the product offering of UPM Raflatac. Both parties have agreed not to disclose the purchase price or other transaction details. The transaction is expected to be closed latest in Q3, 2022. The closing of the acquisition is subject to regulatory approvals.

Weyerhaeuser Company announced the completion of its acquisition of 80,800 acres of high-quality timberlands in North and South Carolina from a fund managed by Campbell Global for approximately $265 million. The transaction was announced in April 2022.

Pactiv Evergreen announced that Jonathan "Jon" Baksht joined the company as Chief Financial Officer, effective May 27, 2022.

Rayonier Advanced Materials Inc. on Tuesday said Vito Consiglio has stepped down as president, chief executive and a director by mutual agreement with the board after just five months at the helm of the cellulose-products maker.

Roseburg Forest Products held a groundbreaking ceremony at the site of its new Roanoke Valley Lumber sawmill in Weldon, North Carolina. The company announced it planned to expand its operations in the Southeastern U.S. last summer with the new 375,000-square-foot, high-capacity dimensional lumber mill, during an event with N.C. Gov. Roy Cooper.

Ahlstrom-Munksjö Holding 3 Oy's Board of Directors has agreed an ownership reorganization plan under which the production assets, debts, and liabilities relating to its Decor business will be transferred from Ahlstrom-Munksjö Holding 3 Oy, without liquidation, to a newly formed company that will be named Munksjö.

Paper bottles

Ingevity Corporation published its 2021 sustainability report highlighting advancements in the company's environmental, social and governance (ESG) goals, long-term vision for operating sustainably and ongoing commitment to delivering renewably sourced and biodegradable products that assist customers and end users with reducing ecological impact.

LP Building Solutions (LP), a leading manufacturer of high-performance building products, was honored as the Forest Conservationist of the Year at the Tennessee Wildlife Federation's 57th Annual Conservation Achievement Awards.

Paper Excellence Canada has published its second sustainability report: Building Strong Relationships.

PotlatchDeltic Corporation released its 2021 Environmental, Social, and Governance (ESG) Report. The Report reflects PotlatchDeltic's commitment to environmental stewardship, the human experience, supporting its communities, and creating sustainable value.

Suzano, one of the world's largest integrated pulp and paper producers, announces the publication of its 2021 Annual Report and the launch of a revitalized Sustainability Center.

The American Forest & Paper Association (AF&PA), today, announced 68% of all paper consumed in the United States was recycled in 2021 - a rate on par with the highest rate previously achieved.

Four contractors at West Fraser's Cariboo Pulp and Paper mill in Quesnel were sent to G.R. Baker Hospital after a brief exposure to a by-product of the manufacturing process.

Canfor Corporation is announcing the continuation of reduced operating schedules at its Western Canadian sawmills due to the ongoing global supply chain challenges. The Company has been operating at approximately 80% of production capacity since late March 2022.

A supply chain backlog and rail car shortage will continue to trouble the Taylor mill through summer and likely into the fall.

Tolko can confirm that at 5 a.m. MT on May 20, 2022, a fire started at Tolko's High Prairie division. The mill was evacuated, and the local fire department worked to extinguish the fire. All employees have been accounted for; one employee was injured and sent to hospital, and they are now recovering.

The blaze broke out Sunday morning, May 15, in a kiln, then spread to a second kiln.

Workers had to be evacuated from the building but were released back to work following the incident.

Crews fought the blaze for more than five hours. According to officials, they tried to work quickly as to contain the fire from the nearby lumber yard.

Several fire departments and what appeared to be Hazmat units were called to assist an incident in Stevens Point on May 26.

WorkSafeBC has delivered its report into a May 12 incident at Howe Sound Pulp & Paper Mill that saw six workers taken to the hospital after being exposed to "foul condensate fumes."

It's been almost a month and a half since WestRock made the announcement to close the Panama City Paper Mill. Some would say they never expected the day to come when the Panama City paper mill would close its doors for good.

Resolute Forest Products Inc. announced ratification of a four-year collective agreement by Unifor union members at seven of the company's pulp and paper mills in Canada, following an agreement-in-principle reached on May 15, 2022.

Sonoco, one of the largest sustainable global packaging companies, today announced that Julie Albrecht, who has served as Vice President and Chief Financial Officer since March 2019, will be departing the Company on June 30, 2022. Albrecht will remain in the CFO role through that date to ensure a smooth and orderly transition of responsibilities. Her successor will be the subject of a future announcement as the Company is undergoing a retained search of internal and external candidates.

Stora Enso has launched a comprehensive biodiversity programme and related targets for its land holdings in Sweden. The programme, which covers the Company's forest land in Sweden, has five focus areas, each with specific actions and measurable targets for 2030.

Tolko Industries says damage and repairs are still being investigated after a fire May 20 at the plant west of High Prairie.