Capital Projects
Departments
By:
James R. Thompson, Executive Editor
Gold marketers hint at weakened cofidence in global economies and prospects for inflation.
The PM40 closed 24 September 2010 at 1696.47, up 1.9% from our last report – 10 September 2010.
The PM40 closed 24 September 2010 up 22.1% compared to the 23 September 2009 level.
In this issue of Disconnected Comparisons, we evaluate Temple-Inland, Inc. (TIN) and Bemis Company, Inc. (BMS).
Reported insider trading since the last issue of PaperMoney reflects sales of 90,000 shares at an average price of USD 23.14 per share.
Supplier News
Metso will supply a complete tissue production line to the Italian Industrie Cartarie Tronchetti group.
Market News of Note
GLV Inc. has completed the privatization process of Christ Water Technology AG.
NOREXECO
MeadWestvaco Corporation will release its third quarter 2010 results on 27 October 2010.
RockTenn will hold its conference call on 03 November 2010.
West Fraser Timber Co. Ltd. will hold an analysts' conference call to discuss third quarter 2010 financial and operating results on 26 October.
Corporate Finance
Reynolds Group Holdings Limited announces entry into bank amendment and anticipated funding of Pactiv acquisition.
UPM-Kymmene Corporation applies for listing of stock option rights 2007A.
Votorantim Participacoes S.A. has received the requisite consents for its 7.875% notes due 2014.
Labor & Union Actions
U.S. Department of Commerce announcement of final antidumping and countervailing duty margins sets out the tariffs that will be applied to unfairly traded imports of coated paper from China and Indonesia.
Major Expenditures
Ahlstrom, a global leader in nonwovens and specialty papers, has invested in a new paper sheeting line at its Osnabrück plant in Germany.
M-real Corporation is planning to increase the annual folding boxboard capacity of Simpele mill by about 80,000 metric tons.
Stora Enso is continuing to expand in solid biofuels by investing EUR 10 million.
Mergers & Acquisitions
Domtar Corporation has sold its Woodland hardwood market pulp mill, hydro electric assets, and related assets.
International Paper announced today that it has closed the sale of 163,000 acres under contract with Figure 8 Partners, LP.
MeadWestvaco Corporation has completed the sale of its global media and entertainment packaging business to Atlas Holdings.
Pactiv Corporation and Reynolds Group Holdings Limited today announced that the waiting period relating to Reynolds Group’s proposed merger with Pactiv has expired.
UPM confirms that it is engaged in discussions with the Finnish publication paper company Myllykoski Group.
Major Announcements
Ahlstrom, a global leader in nonwovens and specialty papers, will today start consultations with employees and customers to investigate future optionsfor spunlace line at its Chirnside plant in the United Kingdom.
Fraser Papers Inc. announced today that it has terminated the agreement to sell its paper mill in Gorham, New Hampshire.
Mondi Syktyvkar mill to use a Honeywell control system for the chemical regeneration plant of a new pulping line.
The annual maintenance shutdown at UPM's Fray Bentos pulp mill in Uruguay is planned to begin 21 October.
Rationalizations
Canfor Corporation will be permanently closing its Clear Lake lumber operation.
The owners of the Samoa Pulp mill have abandoned plans to restart the plant.
Restructurings
AbitibiBowater has received the necessary creditor approval for its plan of reorganization.
BD White Birch Investment, LLC has submitted the highest and best offer for the operations of White Birch Paper Company and its subsidiaries.
Final Word
Vending machines for cut paper -- worth a try?
Environmental
Domtar Corporation is launching an advertising campaign to promote paper use that will appear in major U.S. and Canadian media outlets.
Mercer International Inc. today announced completion of an important milestone in the Green Energy Project at its Celgar mill.
