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The PM40 closed Friday, 3 July 2020, at 2753.

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

The PM40 closed 3 July 2020 down 15.9% from the 5 July 2019 level.

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

Reported insider trading since the last issue of PaperMoney.

When a major event has happened in the past, we have often taken a small, collective pause and then resumed our normal activities. We are in a major event like no other. If you wait for things to return to normal, you will likely go out of business. This is the new normal. We are going to adopt practices and do things differently than we have before and these changes will be permanent.

Kadant Solutions, a division of Kadant Inc., announced that Bilal Mehmood has been named president. Mr. Mehmood is currently Chief Technology Officer (CTO) for Kadant Inc. and will join Kadant Solutions Division in his new capacity on July 1, 2020.

Minerals Technologies Inc. announced that it has signed an agreement with Phoenix Paper LLC to re-establish a 35,000 ton per year satellite precipitated calcium carbonate (PCC) plant at its paper mill in Wickliffe, Kentucky.

Peter Greven GmbH & Co. KG, a leading manufacturer of oleochemical additives, signed an exclusive distribution agreement with Solenis Switzerland GmbH, a leading manufacturer of specialty chemicals.

Cartiera di Ferrara selected Toscotec for a complete dryer section rebuild of its coreboard machine at Ferrara mill in Italy. The paper machine produces coreboard in the range of 220 to 620 gsm, processing 100% recycled paper.

Kadant Solutions, a division of Kadant Inc., announced that Bilal Mehmood has been named president. Mr. Mehmood is currently Chief Technology Officer (CTO) for Kadant Inc. and will join Kadant Solutions Division in his new capacity on July 1, 2020.

Valmet will supply Valmet Recovery Boiler Optimizer advanced process control (APC) solution to Asia Symbol (Shandong) Pulp and Paper in China.

Valmet will supply a new off-machine coating machine to Oji Papéis Especiais (OPE) in Piracicaba, Brazil. With the new off-machine coater PC4, OPE is seeking to increase thermal paper production capacity and strengthen its competitiveness globally, focusing on the Brazilian, South American and North American markets.

Ahlstrom-Munksjö establishes a partnership with Spanish sports and life style accessories company BUFF® to provide filter media for face masks.

As part of its continued focus on global sustainability leadership, Ahlstrom-Munksjöhas initiated its 'from Plastic to Purpose' campaign, highlighting first its new brand of CelluSnack™ snack packaging papers.

BillerudKorsnäs launches Pure Performance, a white top kraftliner that combines high strength, excellent printability and purity in one material. Pure Performance is a unique paper product that offer packaging material reduction thanks to its 3-ply construction.

Cascades, a leader in eco-friendly recycling, hygiene and packaging solutions, is pleased to announce the launch of its new range of Cascades Fresh packaging products for fruits and vegetables. Designed for producers, packers and retailers, Cascades Fresh packaging solutions meet the needs of this key industry while also addressing consumers' concerns about the environmental footprint of their foodstuffs.

DS Smith, a provider of sustainable corrugated packaging, has readied production of fully recyclable "replacement" fans, made from recycled cardboard, for use at U.S. sports arenas forced to limit attendance.

The comfortable masks are breathable and washable, and are made of high-quality fabric with anti-microbial and fluid repellent properties.

IDG's Insider Pro (https://www.idginsiderpro.com) and Computerworld (http://www.computerworld.com) announce International Paper as a 2020 Best Places to Work in IT, one of 100 top organizations that challenge their IT staffs while providing great benefits and compensation. Organizations will be included in coverage on IDGInsiderPro.com and Computerworld.com, along with results from the 2020 Best Places to Work in IT survey.

To recognize the extraordinary efforts of environmental services (EVS) professionals working in health care settings across the U.S., nominations are now being accepted for Environmental Services Heroes on the Frontline of Health Care, created by Kimberly-Clark Professional, in collaboration with the Association for the Health Care Environment (AHE).

This is the thirteenth time that Catalyst Paper, which operates pulp and paper facilities in Crofton, Port Alberni, and Powell River, British Columbia, has achieved the Best 50 Award with Corporate Knights.

R.R. Donnelley & Sons Company has introduced The_Loft@RRD, a new innovation platform that connects companies with people, technologies and strategies to accelerate their digital transformation and achieve innovation at scale.

UPM Plywood has introduced a new water repellent WISA-SpruceWR plywood that enables efficient and effortless construction even in changing weather and humidity conditions.

WestRock Company received 19 awards at this year's Outstanding Merchandising Achievement (OMA) Awards - the most of any entrant - including the distinguished Creative Award.

Södra is planning a new investment for its state-of-the-art pulp mill in Värö which will allow the mill to increase capacity yet further, in steps toward 850,000 tpy.

Södra is planning a new investment for its state-of-the-art pulp mill in Värö which will allow the mill to increase capacity yet further, in steps toward 850,000 tpy.

CatchMark Timber Trust, Inc. announced that its Triple T joint venture has amended its wood supply agreement with Georgia-Pacific WFS LLC intended to achieve market-based pricing on timber sales. CatchMark invests in 1.1 million acres of prime East Texas timberlands through Triple T and acts as the general partner of the venture on behalf of a consortium of institutional investors.

Fortum and Metsä Group have joined forces with Business Finland to create R&D program with pulp fibre from renewable and sustainable sources as its node, Metsä said in a statement.

On June 24, the U.S.-based nonprofit Food System 6 (FS6) announces the launch of a comprehensive startup program in partnership with global sustainable food packaging leader Huhtamaki.

International Paper is responding and has launched an investigation after a supposed noose was found at their Cantonment mill.

Australia's consumer watchdog has lost its appeal over a ruling that Kimberly-Clark had not misled customers when it said its wipes were flushable.

An idled Nova Scotia pulp mill says it has received an "initial order" giving it protection from its creditors as it attempts to restructure its finances and affairs.

Mondi has successfully completed the implementation of a new state-of-the-art paper sack converting machine at its Nyíregyháza site in Hungary.

J.D. Irving Ltd. says work will get under way next month on the $35-million modernization and expansion at its sawmill in Doaktown, N.B.

Prerequisites for the Euro 1.5 billion investment decision are estimated to be fulfilled in the autumn of 2020 after the environmental permit process is completed.

A $125 million recycled paper pulp mill in Pennsylvania will source more than 500,000 tons per year of mixed paper and OCC. The facility will ship its product to China.

Canfor Corporation announced that its 70%-owned subsidiary, Vida Group, has entered into an agreement to purchase three sawmills located in Sweden from Bergs Timber for a purchase price of CAD$43 million plus working capital.

Enviva Partners, LP announced that it has agreed to purchase a wood pellet production plant in Waycross, Georgia with associated export terminal capacity in Savannah, Georgia (the "Georgia Biomass Acquisition") from innogy SE and also has agreed to purchase the wood pellet production plant in Greenwood, South Carolina owned by our sponsor (the "Greenwood Acquisition" and, together, the "Acquisitions").

PotlatchDeltic Corporation announced an agreement to sell approximately 72,000 acres in Minnesota to The Conservation Fund for approximately $48 million in cash. The transaction is subject to customary closing conditions and is expected to close in the second half of 2020.

Riversedge Developments has hired an international appraisal and auction company to sell the machinery and equipment at the Fort Frances paper mill.

This innovative truck was built by the Forestry Unit, which brought the technology from Australia and, in partnership with a specialist company, deployed it in the company's truck, adapting it to the area's daily routine. Initially, the truck will operate together with the traditional fleet but in the test phase.

Washington's Employment Security Department on Tuesday confirmed the Ponderay Newsprint Co. paper mill in Usk is permanently shutting down and laying off 148 workers.

The Södra Foundation for Research, Development and Education has decided to grant an additional SEK 6.8 million to 13 research projects linked to forestry and the forest industry.

BillerudKorsnäs intends to implement a simplified organizational structure as of August 1, 2020. The new organization will be built along the business flow around three functional areas: Wood Supply, Operations and Commercial. In parallel, the resources for sustainability and innovation will be grouped in a common new function, Sustainability & Strategic Development.

Norske Skog will take a major step in its continued transformation towards a growing and high-margin business by converting two newsprint paper machines into renewable containerboard production. The conversions at Golbey and Bruck will introduce 765,000 tonnes of competitive containerboard capacity to meet the growing demand for renewable packaging.

Closures and cutbacks

Ahlstrom-Munksjö has been awarded with EcoVadis Gold rating for the company's sustainability management and performance for the fourth consecutive year. Compared with the results from the previous year, progress was especially made in sustainable procurement.

According to an email received by Del. Gary Howell on Monday, representatives for Verso Corporation say they have "exhausted" efforts to find a buyer for the shuttered Luke mill, but will continue to work toward slowing the seepage of black liquor into the Potomac.

DS Smith was joined by its global partner the Ellen MacArthur Foundation for a virtual event to explore the packaging company's brand-new Circle Design Principles.

More than 40 environment groups have called on Japan's Nippon Paper Group to remove timber logged in Victoria's native forests from its supply chain in the aftermath of bushfires and a landmark judgment that found a government forestry agency repeatedly breached conservation regulations.

As part of its annual reforestation efforts in 2020, Ilim Group will plant trees in an area covering 55,000 ha in the Irkutsk and Arkhangelsk regions, Russia, using over 6.5 million seedlings and 4 tons of pine and spruce tree seeds. The number of seedlings planted grows every year.

Biomass CHP, a kind of renewable energy power and heat generation, utilizes biomass resources, mainly crop straw and forestry waste. As one of the key industries encouraged and supported by the Chinese government, biomass CHP, beneficial for both the environment and economy, can alleviate energy shortage, as well as improve the environment and employment to a certain extent.

The government of New Brunswick and J.D. Irving Ltd. are on high alert following government-forced closures of N.B. parks and Crown land due to extremely dry forests that could cause forest fires. The province has already seen fire damage surpass its annual average.

J.D. Irving, Limited (JDI) has released its 2019 Sustainability Report for its Forestry and Forest Products Operations.

On the doorstep of a decisive decade for climate change, Kimberly-Clark has announced expanded new targets for greenhouse gas (GHG) emissions, approved by the Science Based Targets initiative (SBTi) and aligned with the goals of the Paris Climate Agreement.

Smurfit Kappa has started up new recovery boiler at its Nettingsdorf kraftliner mill in Austria. The unveiling of the state-of-the-art boiler marks an important milestone in Smurfit Kappa's Future Energy Plant project, which was a Euro 134 million investment to increase the sustainability and efficiency of the leading kraftliner mill.

The American Forest Foundation (AFF) announced WestRock, a leading provider of differentiated paper and packaging solutions, through its WestRock Foundation, has committed to supporting family forest owners addressing climate change by investing in the development of the Family Forest Carbon Program (FFCP), a new program created by AFF and The Nature Conservancy (TNC).

Canfor resumes operations at its Houston Sawmillfor four days a week. The schedule has been the same since Canfor announced curtailments in August.

Conifex Timber Inc. announced that at its annual general and special meeting of shareholders held on June 22, 2020, all management nominees were elected as directors of the company.

Kingsport's Domtar paper mill will continue to be idled by the COVID-19 pandemic through the end of August, the mill's manager told the Kingsport Economic Development Board.

A difficult equipment fire has been extinguished at the Resolute Forest Products Saw Mill, which threatened a nearby wood supply.

A fire at the WestRock facility in Mooresville on June 12 was controlled by the fire sprinkler system, limiting damage to a single piece of production equipment and raw cardboard material near the fire's location, Fire Marshal Geoff Woolard reported in a news release. Still, the damage could be up to $2 million.

Georgia-Pacific's mill in Perry will be laying off 150 employees, the company confirmed, citing reduced product demand during the COVID-19 pandemic.

Georgia-Pacific announced Wednesday that 100 hourly employees will be laid off as the mill temporarily ceases operations for a second time this year.

Conifex Timber Inc. announced that at its annual general and special meeting of shareholders held on June 22, 2020, all management nominees were elected as directors of the company.

Two coronavirus cases have been confirmed at International Paper in Vanceboro, the company says.

Packaging Corporation of America (PKG) said both paper machines and a majority of the converting operations at the Jackson, Alabama mill would continue to be temporarily idled during the months of July and August.

Workers at the Sonoco paper mill in Quinte West spent their last day on the job June 12 after the company decided earlier this year to shutter the mill and focus operations in South Carolina

City firefighters were responding Sunday, June 14, to a report of a fire at a water-front, commercial property in Travis.

Green Bay police are saying little about an industrial accident that killed a 52-year-old man at Green Bay Packaging on June 12.