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The PM40 closed Friday, 1 January 2021, at 3579.

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 1 January 2021 up 9% from the 3 January 2020 level.

In this issue of Disconnected Comparisons, we evaluate Greif and Sonoco.

Reported insider trading since the last issue of PaperMoney.

If you were involved in any serious, time constrained performance-based projects in 2020, you may have become familiar with the term "Force Majeure."

ABB has completed a large-scale remote commissioning of winder drives, upgrading and commissioning PM5 installations at ITC's Paperboards and Specialty Papers Division mill in India.

ABB has upgraded its industry-leading L&W Felt Moisture and Felt Permeability Meters with new software, unlocking new features that improve their value for paper mill customers as a key process measurement solution to optimize press section performance.

Metsä Fibre and Doosan Škoda Power have signed a preliminary agreement on a turbine generator with an electric power of 270 MW for the planned bioproduct mill in Kemi, Finland.

SPM Instrument AB received an order for a total of 154 sensors for the replacement of an older SPM system on the drive side of the drying section on Hallsta's PM12 paper machine.

Voith has comprehensively optimized its HydroMix stock mixing system.

Paper manufacturer Steinbeis produces around 300,000 tons of recycled paper every year. But it is operating in a hotly contested market and to continue offering competitive prices and producing paper sustainably, the company is aiming for cost efficiency through digitalization - with SAP HANA.

Toscotec completed a post dryer section rebuild at German containerboard producer Aviretta. The project was executed according to the original schedule, despite Covid-19 restrictions. The paper machine (PM4) produces fluting from 60 to 130 g/m².

Valmet will supply a Valmet IQ Web Inspection System (WIS) to Stora Enso's coating and laminating plant in Forshaga, Sweden. The new system will be installed on an extrusion coating line producing a new dispersion barrier paperboard for paper cups and food packaging.

Valmet will supply an extensive paper machine grade conversion rebuild with a wide scope of automation and services for Cascades' Bear Island mill in Virginia, the United States. In the project, paper machine PM 1, designed to produce newspaper, will be rebuilt to produce high-quality, lightweight, 100% recycled linerboard and medium grades for the North American market.

Valmet will deliver a new flash drying and baling line and a rebuild of the existing integrated thermomechanical pulp (TMP) production line at SCA's Ortviken mill into a chemi-thermomechanical pulp (CTMP) market pulp line, which will have a capacity of 300,000 tonnes per year.

Cascades, a leader in eco-friendly recovery, hygiene and packaging solutions, is pleased to continue supporting efforts to fight effects of the pandemic.

DS Smith, a leading paper, packaging and recycling company with North American headquarters in Atlanta, moves ahead with its implementation of the next generation of supply chain technology by extending real-time visibility to its North American operations.

E-commerce is booming and this year several sources predict records for the Christmas online shopping.

A Menasha-based paperboard manufacturer, Dura-Fibre, announced it will be providing specialty laminated paperboard sleeves and inserts for some of the US novel coronavirus vaccines during shipment.

Glatfelter Corporation, a leading global supplier of engineered materials, announced today the release of the Company's first sustainability report, Enhancing Everyday Life™...Sustainably.

Leading paper-based packaging solution provider, Graphic Packaging International, is responding to growing demand for viable Ships In Own Container (SIOC) solutions for e-commerce with a sustainable structure that is both sturdy and striking.

The use of face masks during the recent pandemic has justifiably grown to hundreds of millions worldwide. However, masks can easily end up littering public places or natural sites.

Mondi, a global leader in packaging and paper, has launched a new paper EcoWicketBag for Drylock Technologies' baby diaper ranges, bringing sustainable paper-based packaging to the hygiene market globally.

Recycling Dual offers an innovative and integrated holistic solution to track the entire life cycle of paper, cardboard and carton packaging. The unique solution highlights duplication which can be removed from the supply chain and reduce costs.

Sonoco, one of the most sustainable, diversified global packaging companies, is pleased to announce it has again been named one of America's Most Responsible Companies by Newsweek. The Company also received an MSCI ESG "A" rating.

Sun Chemical's SunTronic® IME inks are approved for production use in IMSE parts after passing the demanding materials testing program from TactoTek®, a Finland-based company that develops, industrializes and licenses in-mold structural electronics (IMSE™) technology.

UPM Biofuels has joined the BIKE project that promotes low-ILUC risk biofuels production for European Bioeconomy. The project brings together companies and research organisations who believe that novel, safe and reliable biomass value chains can be deployed to produce food, feed, biofuels and biomaterials with a low risk of generating indirect land use change.

WestRock, a leading provider of differentiated paper and packaging solutions, has been named one of 'America's Most Responsible Companies 2021' by Newsweek magazine, recognizing the company's efforts to imagine and deliver on the promise of a sustainable future.

The Sussex-based company cited "volume declines" for closing the plants in Oklahoma City; Nashville, Tennessee; and Fernley, Nevada.

Due to significantly greater than expected demand in tissue, strong operating performance, and favorable cost trends, the company now expects Adjusted EBITDA for the fourth quarter of 2020 to be in the range of $71 to $76 million.

Södra Cell is increasing the price of its northern bleached softwood kraft (NBSK) pulp in Europe to $960, effective 1 January 2021.

SCA increases the price on bleached softwood kraft pulp, NBSK, to $ 960 per tonne.

Sonoco-Alcore S.a.r.l. announced it will raise prices for paper-based tubes and cores by 7%. The increases will be applied individually and depending on product category, effective from shipments beginning on 18 January 2021.

Enviva and GoChain, a blockchain company that drives the adoption of impactful technologies, announced the initial results of a pilot program designed to enhance the traceability of sustainable biomass.

Toundra Greenhouse, an innovative cucumber-growing greenhouse complex in which Resolute holds a 49% interest, is expanding once again. On December 9, 2020, the organization announced its third expansion since its inauguration in 2016. The new $50-million plan brings the total invested in the joint venture's three phases to $175 million.

Northern Pulp estimates it has enough money left to run until June. After that it will have to seek permission from the the court and its creditors to draw again on a $50 million financing facility set up by its parent company, Paper Excellence.

Delaware's Supreme Court has upheld a judge's dismissal of a lawsuit alleging that the DuPont Co. massively downplayed the cost of environmental liabilities imposed on spinoff company Chemours.

A racist note reportedly taped to a window has fueled anger in Prattville, Union Springs and now Memphis, Tennessee.

The new Pratt Industries building will be about 925,000 square feet.

Duluth will retain the services of a consulting firm at least a while longer in hopes that it can find a new owner for the Verso paper mill, which has been idled since summer.

Novolex®, an industry leader in packaging choice, innovation and sustainability, announced it has acquired the business of B&H Bag Company, a leading manufacturer of paper bags and other products. The B&H business will be a part of the Novolex Duro Bag® business, strengthening Duro's customer service through increased production capacity. The family-owned company has one manufacturing plant, located outside of Houston, Texas.

R.R. Donnelley & Sons Company, a leading global provider of marketing and business communications, issued the following statement in response to a recent article regarding the potential sale of its Asia Pacific business.

Södra is divesting Trivselhus AB to housing supplier Svensk Husproduktion. The takeover date is 1 March 2021.

Talks to save the mill took a turn for the worse back in late October when Verso said they would suspend the effort to sell the mill due to the current economic climate. That led to outrage from local and state lawmakers.

As part of its forest land optimisation, Stora Enso has signed an agreement to divest forest assets located in southern Sweden to the forestry fund Silvestica Green Forest AB. The total area of forest land in the transaction is approximately 5 200 hectares. The selling price is approximately SEK 940 million (EUR 90 million).

UFP Industries, Inc. announced that UFP Industrial, LLC, closed on its agreement to purchase 100 percent of the equity of PalletOne, Inc. for approximately $232 million.

UPM and the US-based pulp and paper producer Domtar Paper Company LLC have signed an agreement for UPM to acquire the total annual kraft lignin production of Domtar's Plymouth Mill in North Carolina, USA as of January 2021. This step enables UPM to expand its role in the growing lignin business and different application segments.

West Fraser Timber Co. Ltd. and Norbord Inc. jointly announced that West Fraser's management information circular and Norbord's management proxy circular (together, the "Circulars"), prepared in connection with the previously announced arrangement whereby West Fraser will acquire all outstanding common shares of Norbord (the "Norbord Shares") pursuant to a plan of arrangement (the "Arrangement") under Section 192 of the Canada Business Corporations Act, are expected to be mailed to their respective shareholders by December 24, 2020.

According to its website, Cosmo has begun recalling some of its approximately 200 employees and hopes to be running at full capacity by February 1, 2021.

Dunn Paper, a leading manufacturer and supplier of high performance, advanced paper and tissue for use in food, medical, and specialty markets unveiled today changes within the organization beginning with the appointment of David Apollonio as President and CEO. Apollonio will lead the organization from the Company's new headquarters located in Alpharetta, Georgia.

Dunn Paper, a leading manufacturer and supplier of high performance, advanced paper and tissue for use in food, medical, and specialty markets unveiled today changes within the organization beginning with the appointment of David Apollonio as President and CEO. Apollonio will lead the organization from the Company's new headquarters located in Alpharetta, Georgia.

Pro-Gest Group's founder Mr Bruno Zago announces that Mr Francesco Zago will be taking over the role of the Group CEO from 2021.

The Södra Foundation for Research, Development and Education has decided to grant an additional SEK 8.7 million to 11 research projects linked to forest management and forest industry. The biggest investment in this year's second round of funding will focus on potential applications for cross-laminated timber (CLT).

Cascades Inc. announced that its 86.3% owned subsidiary, Greenpac Mill, LLC ("Greenpac") has entered into an agreement to amend and restate its existing term loan and revolving credit facility that were scheduled to mature in May 2021. The amended credit facilities will mature in December 2023.

On December 16, the Board of Directors of Veritiv approved an expansion of the restructuring plan previously announced on July 9.

Closures, cutbacks and capital projects

Borregaard has received a commitment of NOK 15.7 million ($1.8 million) in funding from the Research Council of Norway for a project for the development of biochemicals to replace petrochemical alternatives.

After using coal for more than 100 years, Georgia-Pacific will shut down the last coal-fired boiler at its Green Bay Broadway mill next week.

Glatfelter Corporation, a leading global supplier of engineered materials is proud to announce that it has received the "Fine to Flush" certificate from Water UK for its improved nonwoven substrate used in dispersible wipes and moist toilet tissues.

Greif, Inc. announced it has been awarded an A- Leadership ranking for the third year in a row by CDP as part of their annual climate change assessment. CDP operates a global disclosure system for investors, companies, cities, states and regions to manage the impact they make on the environment.

The Regional State Administrative Agency for Northern Finland has granted environmental and water supply permits to the Kemi bioproduct mill of Metsä Fibre. The environmental permit defines the limit values for the emissions of the new mill.

Innovation Norway has allocated NOK 15 million in support of building a demonstration plant for the development of fiber composite production at Norske Skog Saugbrugs. This will accelerate the on-going development work to industrialize the production of a new type of biocomposite, which can be included in furniture, packaging and car interiors. Norske Skog Saugbrugs will develop sustainable solutions related to plastic raw materials, fiber blending, technology development and testing of biocomposites.

Sappi Limited wishes to congratulate Mr Valli Moosa for his appointment by President Cyril Ramaphosa as deputy-chair and member of the inaugural Presidential Climate Change Coordinating Commission for South Africa. The Commission is chaired by the President.

Smurfit Kappa has launched a new company called Recycling Dual GmbH in Germany. Recycling Dual offers an innovative and integrated holistic solution to track the entire life cycle of paper, cardboard and carton packaging.

Sonoco, one of the most sustainable, diversified global packaging companies, is pleased to announce its partnership with the Digital Watermarks Initiative Holy Grail 2.0, an initiative facilitated by AIM, the European Brands Initiative, to prove the viability of digital watermarking for sorting packaging waste and the business case at scale.

Andreola has over 20 years of business development and financial markets experience including senior management, marketing, and communications roles for early stage companies.

WestRock, a leading provider of differentiated paper and packaging solutions, welcomes Brandi Colander to its executive leadership team as chief sustainability officer. Colander further strengthens WestRock's commitment to sustainability, both within the company and in the packaging solutions it provides its customers.

Conifex Timber Inc. announced a disruption of operations at its power plant in Mackenzie, British Columbia, Canada, resulting from damage to the plant's generator. The boiler and other long lead-time equipment have not been impacted.

DS Smith appoints Stephanie Dalton as Innovation Manager for its Recycling Division. Reporting to the Head of Strategic Development & Business Transformation, Stephanie will be responsible for developing recycling innovation projects across Europe.

International Paper officials are working with local authorities after a worker died in an industrial accident Wednesday evening, Dec. 16 at a facility in Franklin.

Ralf W. Dieter was appointed CEO by the supervisory board of Homag Group AG, with effect from January 1, 2021. He will hold this position in addition to his function as CEO of Dürr AG.

When emergency responders got on scene they called for a medical helicopter to fly the man to Columbus Hospital for Critical care.

Resolute Forest Products Inc. announces that Hugues Simon will join the company and be appointed as president of the wood products division as of March 1, 2021. His term will begin as of the date on which Remi G. Lalonde, currently Resolute's CFO, assumes the position of president and CEO. Mr. Simon will report to Mr. Lalonde.

Bart Bender, Senior Vice President, Sales and Marketing at Interfor is the newly elected Chair of the Board for WoodWorks--Wood Products Council. Bender will serve a two-year term beginning in 2021. WoodWorks welcomes Keith O'Rear, Senior Vice President of Wood Products at Weyerhaeuser to the Board as the company's new representative.