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The PM40 closed Friday, 30 April 2021, at 4329.

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 30 April 2021 up 86.5% from the 1 May 2020 level.

In this issue of Disconnected Comparisons, we evaluate PCA and Boise Cascade.

Reported insider trading since the last issue of PaperMoney.

If you have been in the packaging, containerboard or tissue sectors for the past 15 months, you are generally smiling already. Now, the economy is coming roaring back. For the first quarter, the US economy grew at a 6.4% annual rate. Last year, the economy declined by 3% while box shipments rose by 3.5%.

Global technology company ABB has been contracted by manufacturer of forest products, Arauco, to modernize its Licancel Cellulose Plant in Chile to deliver faster response times, greater cyber security, upgraded operator interfaces, enhanced process reliability and flexibility for remote working.

Andritz has received an order from BillerudKorsnäs to supply a HERB recovery boiler for its mill in Frövi, Sweden. Start-up is scheduled for the end of 2023. The new boiler will replace the existing recovery boiler that has been in operation in Frövi since 1969.

Jartek Invest Oy delivers a packaging plant to Kuhmo Oy. The total investment is approximately Euro 5 million. Construction work on the project begins in July and commissioning starts in February 2022.

Kemira has appointed Terhi Kivinen as Chief Communications Officer of Kemira Oyj starting from May 1, 2021.

Minerals Technologies Inc. ("MTI") has signed an agreement with Zhumadianshi Baiyun Paper Co., LTD ("Baiyun Paper") to build a 50,000 metric ton per year satellite precipitated calcium carbonate ("PCC") plant at its paper mill in Suiping County, Zhumadian City, China. The facility will be wholly owned by MTI. The new facility is scheduled to begin operations in the first half of 2022.

Valmet has delivered the world's first fully virtual paper mill to Mondi's new production line at the Mondi mill in Ružomberok, Slovakia. Prior to the start-up of the Valmet-supplied Old Corrugated Container (OCC) line, the stock preparation and the containerboard machine, the new machinery's virtual design twin is being used to train operators and other personnel.

In the field of AquaLine water management, with AquaLine Flex and AquaLine Zero, Voith is introducing two concepts that not only minimize fresh water consumption but, as is the case with AquaLine Zero, can also completely close water circuits.

Paper manufacturer Modern Karton has commissioned Voith to build and deliver a high-speed production facility for the production of recovered corrugated containerboard base paper.

Simka Kagit Sanayi VE Ticaret AS, a Turkish manufacturer of various converted paper and paperboard products, has commissioned Voith to supply its OnQuality Quality Control System (QCS) of scanners and sensors to the company's PM 1 in Kayseri, Turkey.

Ahlstrom-Munksjö advances further into the energy storage market by signing a marketing license with Soteria Battery Innovation Group (BIG), allowing the company to proceed with the technical ramp-up to manufacture fiber-based separator solutions to the lithium-ion battery industry. The agreement is an important step in the commercialization of Ahlstrom-Munksjö's solutions to the energy storage market.

Ahlstrom-Munksjö's PurposeFil™ Packaging papers help packaging engineers and brand owners achieve multiple sustainability goals.

Building on its recent track record of breakthrough innovations to deliver recyclable packaging, Amcor is announcing customer trials of the world's first recyclable* Polyethylene-based thermoform blister packaging.

The full coated woodfree product range of Arctic Paper Grycksbo has been awarded a Silver Level Material Health Certificate as part of the multi-attribute Cradle to Cradle Certified Products Standard. In addition, the entire production process of the mill in Grycksbo was inspected and achieved the Silver Level which therefore represents the overall level of product certification.

With Pure DecorX™, BillerudKorsnäs is introducing the latest development in white top kraftliner. Pure DecorX is a 3-ply construction made of 100% primary wood fibres, which makes the liner strong, stiff and with high thickness. In practice, this means great lightweighting opportunities, high runnability in converting machines, reduced risk of washboarding, and enhanced packaging performance.

Glatfelter Corporation has been nominated for the 2021 World of Wipes Innovation Award with its eco-friendly, cellulose-based airlaid substrate for GlatClean™ disinfecting wipes.

This new product, available for all commonly used punnet sizes, is fully recyclable and reduces plastic by up to 100 percent, depending on application.

Menasha Corporation is proud to announce it has been selected as a 2021 US Best Managed Company. Sponsored by Deloitte Private and The Wall Street Journal, the program recognizes outstanding U.S. private companies and the achievements of their employees.

Mohawk Fine Papers, Inc., North America's largest privately owned manufacturer of fine papers and envelopes, unveiled a groundbreaking portfolio of papers, Mohawk Renewal, made from rapidly renewable, sustainable fibers--namely hemp, straw and recycled cotton--in April of last year.

Monadnock Paper Mills, Inc., the oldest continuously operating paper mill in the United States, has launched its new Envi Performance Board portfolio, a comprehensive collection of sustainably advantaged packaging materials.

Pactiv Evergreen announced the launch of a new annual program rewarding community engagement for employees and their families and supporting the company's commitment to sustainability. The program, called GiveBack, invites employees and student family members to nominate projects in which they are involved at registered nonprofit organizations for grants.

Pregis is launching Phantom Mask, a new temporary protective surface film as part of the Pregis PolyMask™ solutions portfolio, that has been engineered to eliminate costly and labor-intensive adhesive transfer problems on plastic sheets, parts and products. The product will be available from the Pregis PolyMask business unit across North America, Europe and other geographic markets.

R.R. Donnelley & Sons Company (RRD), a leading global provider of marketing and business communications, announced a combination of strategic resources with supply chain and integrated communications for efficient COVID-19 testing to keep organizations across the country open and running.

Sappi North America, Inc., a leading producer and supplier of diversified paper, packaging products and pulp, announced that its Ultracast Viva release paper has won the Green Product Award 2021 jury prize in the fashion category. The award program recognizes companies and start-ups that have distinguished themselves by their sustainable practices and product results. Over a thousand applicants from 51 countries were screened for this year's nomination.

Smurfit Kappa Brazil, partnering with sommelier Myriam Echeverri, has won a prestigious Red Dot Award in the category of Product Design 2021. The award recognises this packaging as one of the most innovative design projects in the world. The packaging challenge came from Wine & Bite Box to secure and protect bottles of wine and food for a growing trend of tasting boxes being delivered to customers for an at home gourmet experience.

As previously communicated by Ahlstrom-Munksjö by way of a stock exchange release published on March 26, 2021, the Board of Directors of Ahlstrom-Munksjö has resolved to apply for the termination of public trading in the shares of Ahlstrom-Munksjö and for the delisting of its shares from the main market of Nasdaq Stockholm AB. Nasdaq Stockholm has approved the application and resolved that the last day of trading in Ahlstrom-Munksjö's shares at Nasdaq Stockholm will be May 31, 2021.

DS Smith warned on Thursday of higher packaging prices as an online shopping boom during the pandemic has led to a surge in demand for boxes, coupled with a shortage of raw materials and higher paper prices.

Norske Skog's Board of Directors has made the final investment decision to convert one machine at the Bruck (Austria) industrial site from newsprint to recycled containerboard production. This is the first major step of the two planned European conversion projects in the group's strategy of establishing Norske Skog as a leading independent European producer of recycled containerboard.

SCA increases the prices on white and brown kraftliner in Europe by Euro 50 per tonne. The new price is valid from June 1, 2021.

Sonoco announced it will raise the price for all paperboard tubes and cores by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after May 24, 2021.

In March of 2020, Enviva and The Longleaf Alliance announced a five-year partnership with the goal of protecting and restoring longleaf pine forests, one of the most biodiverse ecosystems in North America.

Kotkamills and Pyroll together had previously been Nominated as one of the six Finalists of the competition for their Sustainable food service packaging designed for Norwich City FC The packaging received the "Everyday Heroes" Special Recognition Award and also took the second place in the public vote.

In celebration of Earth Day, HelloFresh, the leader in delivering delicious ingredients and easy-to-follow recipes to households worldwide, announced today a new partnership with Pratt Industries to introduce cardboard packaging made of 100% post-consumer recycled content for its HelloFresh and EveryPlate meal kits.

The Maine Supreme Judicial Court on Tuesday saved Old Town from having to refund nearly $1 million in property taxes to a former pulp mill owner when justices unanimously settled a yearslong dispute between the two.

Before a federal judge could approve a proposed sale of the closed Ponderay Newsprint Mill to a California-based venture capital company, concerns were raised during a court hearing Thursday about potential plans to use power allotted to the mill for cryptocurrency mining.

IT Tech Packaging, Inc., a leading manufacturer and distributor of diversified paper products in North China, announced the Company has completed fundamental constructions on its new tissue paper production line (the "PM10") and is working on the installation of affiliated equipment.

The company, a U.S. subsidiary of China-based Nine Dragons Paper Holdings Ltd., said the new operation will produce 200 metric tons of unbleached pulp daily and support 20 new jobs in Maine when it is at full operation.

Smurfit Kappa has announced a significant investment in its Hoya paper mill and board manufacturing plant in northwest Germany. It is the latest phase of an investment programme, which commenced in 2011, and this last phase will see production output increase by 70 kt to 450 kt per annum.

Global manufacturer USG Corporation will open a 90,000-square foot facility in the Montbello neighborhood.

Pending approval from the bankruptcy court, the former Ponderay Newsprint Mill will be reopened as a corrugated cardboard paper production facility, according to court filings sent from Chapter 7 Trustee John D. Munding. Allrise Capital had the winning bid, in the amount of $18,100,000.

Hygiene and health company Essity has signed an agreement today to acquire the remaining 25% of the shares in the Swedish medical solutions company ABIGO Medical AB. Essity acquired 75% of ABIGO Medical in February 2020.

Essity has made an agreement to acquire approximately 44% of the Colombian hygiene company Productos Familia S.A. ("Familia"). After closing of the transaction Essity's ownership in Familia will amount to at least 94%. Essity has been an owner in Familia since 1985, and currently owns 50% of the company. The purchase price amounts to USD 1,540m (approximately SEK 13bn) for 100% of the company on a debt free basis.

Dennis Schoeneck, owner of Enterprise Forest Products in Pelican Lake, said his "business changed immediately on June 9, 2020″ when the Verso Mill in Wisconsin Rapids suddenly closed.

The proposed acquisition is expected to add approximately $200 million in sales, $30 million in Adjusted EBITDA and significant opportunities for paperboard integration upon completion.

Huhtamaki, a key advanced manufacturer of sustainable packaging solutions for consumers around the world, has entered into an agreement to acquire the assets of Jiangsu Hihio-Art Packaging Co. Ltd., a leading manufacturer of paper bags, wraps and folding carton packaging in China.

Central National Gottesman Inc. (CNG) announced that its Kelly Spicers division has acquired California Supply North, a specialty packaging distributor that serves the Northern California region.

Rengo has acquired all of Toppan Printing's shares of its consolidated subsidiary Rengo Toppan Containers and made it a wholly owned subsidiary, as well as changed the company name to "RG Containers Co., Ltd."

The takeover offer of Greater Manchester-headquartered Scapa - which values the healthcare and industrial group at more than £410m - has completed.

UFP Industries, Inc. announced that a wholly owned subsidiary of UFP Construction, LLC, has acquired the assets of Endurable Building Products, LLC.

Weyerhaeuser Company announced the completion of its acquisition of 69,200 acres of high-quality Alabama timberlands from Soterra, a subsidiary of Greif, Inc., for approximately $149 million earlier this week. Separately, the company announced an agreement to sell 145,000 acres of timberlands in the North Cascades region of Washington to Hampton Resources for $266 million.

Sylvamo Corporation, a subsidiary of International Paper that is in the process of being spun off into an independent, publicly-traded company, could put its headquarters in Memphis.

The paper mill closed in 2016 after a 134-year history. The mill was known as the George A. Whiting Paper Co. for most of its history, dating to 1882.

Procter & Gamble announced it will hike prices on baby care, feminine care and adult incontinence products in September to respond to higher commodity costs.

ST Paper will seek up to $1.5 million in state job-creation funds to breathe new life into Verso Corp.'s Duluth paper mill, with the full support of the Duluth City Council.

Arctic Paper consolidates the sales organizations for Scandinavia and the Baltics into a joint company, Arctic Paper ScanBaltics.

Specific proposals outlined in the letter include removing the Company's value destructive "poison pill," executing a modest stock buyback program, and conducting a non-deal equity roadshow to educate the institutional investment community on RRD's recent deleveraging and growth initiatives. As a longstanding, supportive shareholder of RRD, Chatham strongly recommends RRD undertake these actions to enhance value for all the Company's stakeholders.

Stora Enso will start co-determination negotiations with employees at its Kvarnsveden Mill in Sweden and Veitsiluoto Mill in Finland regarding a plan to permanently close down pulp and paper production at both mills. The planned closures would take place during the third quarter of 2021, and affect directly 670 people in Finland and 440 people in Sweden.

In a recent article, Bioenergy Insight, announced that a new paper released by the European Biogas Association, highlights potential of biogas from industrial wastewater.

Enviva, a global renewable energy company specializing in sustainable wood bioenergy, has joined the Sea Cargo Charter, a cross-industry partnership of over 20 ship charterers that aims to establish a consistent global framework for transparently assessing and disclosing the climate impact of ship chartering operations.

The Environmental Protection Agency is now involved with the odor investigation with South Carolina Department of Health and Environmental Control (DHEC), according to SCDHEC.

Steve Hounsell is stepping down as President and Chair of Forests Ontario, though will remain on the Board of the not-for-profit organization. Concurrently, Malcolm Cockwell of Haliburton, Ontario has been selected by the Board of Directors as the new President, effective immediately.

Greif, Inc., a global leader in industrial packaging products and services, today announced it has set a new goal to reduce its absolute Scope 1 and 2 greenhouse gas (GHG) emissions 28% by 2030. This target aligns to the prevailing climate science limit of keeping global warming to well below 2 degrees Celsius.

Kruger Products L.P. is now a signatory of the Canada Plastics Pact (CPP), making it the first tissue manufacturer to be part of this national commitment. The company recently launched its 10-year sustainability strategy, Reimagine 2030, which includes a target of reducing the virgin plastic in its trademark branded packaging by 50% by 2030. Joining the CPP is the first tangible example of the company's commitment to achieving its new targets.

Neenah, Inc. proudly achieves nine verified U.S. Department of Agriculture (USDA) Certified Biobased Products in their durable label solutions lineup as further evidence of its commitment to sustainability efforts.

Pregis, a leading global manufacturer of protective packaging, announces that it has joined The Climate Pledge, a commitment to be net-zero carbon by 2040--a decade ahead of the Paris Agreement's goal of 2050.

At least 10 WestRock employees have tested positive for COVID-19 in the past week, and one employee died from complications of the virus, according to Cowlitz County Health and Human Services.

On Thursday night, April 22, firefighters responded to a report of a fire at LSC Communications in Rockingham County.

Sari Pajari-Sederholm has been appointed Metsä Group's EVP, Strategy as of 1 May 2021. She has worked within Metsä Group since 2007 e.g. as the Metsä Group's CIO and in various management positions in the paperboard business, Metsä Board. Pajari-Sederholm moves to her new role from the position of Metsä Board's SVP, Sales and Marketing.

Two of the country's largest pulp and paper unions, Unifor and the Public and Private Workers of Canada (PPWC), have agreed to continue to work together in the next round of pulp and paper bargaining for members across Western Canada.

Rayonier Advanced Materials announced that its Fernandina plant has produced 10 million tons of high purity cellulose.

A new strategy function is being formed within Södra and Malin Nordin has been recruited as Director of Strategy.

The Board of Directors of UPM-Kymmene Corporation has today decided to complement its Audit Committee composition by appointing Emma FitzGerald as the fourth member of the committee. The appointment is made following the stepping-down of Ms FitzGerald from her CEO role in Puma Energy Ltd., which allows her availability to Audit Committee work. Ms FitzGerald is also a member of UPM Board's Remuneration Committee.