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The PM40 closed Friday, 11 June 2021, at 4326.

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 11 June 2021 up 75.7% from the 12 June 2020 level.

In this issue of Disconnected Comparisons, we evaluate Quad and Rayonier.

Reported insider trading since the last issue of PaperMoney.

Ladies and gentlemen, the first class of inductees to the Paper Industry International Hall of Fame in Appleton, Wisconsin was inducted more than two decades ago in 1995, and today, close to 150 papermaking innovators and legends have been enshrined. This month, we profile the late Ernst Mahler, who was inducted into the Hall of Fame in 1996

ABB has been selected by Sappi Limited (sappi.com) to support a major digital transformation project across its global manufacturing footprint in Europe, North America, and South Africa.

Andritz has received an order from Nine Dragons Paper Industries to supply two chemi-thermomechanical pulping systems for their mills in China. The start-ups are scheduled for spring and summer 2022.

German industrial conglomerate BASF SE and its private equity partner are considering exit options for water treatment specialist Solenis, people with knowledge of the matter said.

Kadant Lamort SAS, a subsidiary of Kadant Inc. (NYSE: KAI), started-up a Heli-Drum pulping system at Cartiere Saci, a leading European producer of 100% recycled shopping bags. The Heli-Drum system handles a broad range of recycled fibers and efficiently processes kraft paper, carrier board, and aseptic packages, among other furnishes.

Botnia Mill Service, part of Caverion, will start as maintenance partner at the Metsä Fibre's new sawmill at Rauma, Finland. The agreement covers all sawmill process phases.

The price increase is necessary due to the tightening of raw material supply globally and escalating energy, packaging and transportation costs.

Valmet has on June 9, 2021, entered into agreements to acquire EWK Umwelttechnik GmbH, a German company manufacturing and supplying air emission control systems and after-installation services, and ECP Group, a Finnish manufacturer and maintainer of air emission control systems. These acquisitions complement Valmet's customer offering in environmental technologies and related services.

Valmet will supply a large pulp and paper technology delivery to Klabin in Brazil. The order consists of a paperboard making line (PM 28), a complete new fiberline including a new Continuous Cooking G3, and a new bleached chemi thermo mechanical pulp (BCTMP) line, all with extensive scopes of automation and Valmet Industrial Internet solutions. The start-ups of PM 28, the BCTMP line and the fiberline are scheduled for the second quarter of 2023.

Ahlstrom-Munksjö has expanded its portfolio of biodegradable and renewable fiber-based solutions for food packaging papers, receiving compostability certification from the Biodegradable Products Institute®.

Ensuring that vaccine vials and their potentially life-changing contents remain safe, sterile and identifiable throughout their tightly controlled supply chain is no easy task, and taking risks is not an option. With the new extended 360 Service offering, Metsä Board, part of Metsä Group, is testing the paperboards and simulating packaging designs used by pharma manufacturers to package and protect vaccine doses, providing absolute confidence that the materials are up to the task.

Leading global packaging and paper group Mondi, along with cheese packaging company Hazeleger Kaas (hazeleger-kaas.nl) and brand owner Westland Kaas (westlandkaas.nl), worked together to package the well-known Dutch Maaslander brand in EnvelopeForm, a new fully recyclable polypropylene (PP) mono-material packaging solution.

SWAPP® to paper packaging for a sustainable future! SWAPP® with an extra P for paper is a range of fibre-based packaging materials from BillerudKorsnäs to enable transition from plastic to paper and meet new consumer demands through better sustainability performance for people and the planet.

The Twin Rivers Paper Company has received FSSC 22000 Certification for Food Packaging, for its New York-based, Lyonsdale, Mohawk Valley, and Mill Street mills. FSSC 22000 is a GSI recognized, food safety certification developed to improve consistency and integrity throughout all aspects of the food safety supply chain.

Verso Corporation announced the launch of its redesigned website, featuring all-new content that covers numerous topics and areas of interest, from its library of paper promotions to sustainability information and much more.

International Paper Company announced that it has commenced a cash tender offer (the "Offer") for up to $700 million aggregate purchase price (excluding Accrued Interest (as defined below) and excluding fees and expenses related to the Offer ) (the "Aggregate Maximum Amount") of its outstanding 4.400% Notes due 2047 (the "4.400% Notes"), 4.350% Notes due 2048 (the "4.350% Notes"), 4.80% Notes due 2044 (the "4.80% Notes") and 5.000% Notes due 2035 (the "5.000% Notes," and, together with the 4.400% Notes, the 4.350% Notes and the 4.80% Notes, the "Notes"). The terms and conditions of the Offer are described in the Company's offer to purchase dated June 7, 2021 (as may be amended or supplemented from time to time, the "Offer to Purchase").

The ongoing sharp rise in raw material costs, particularly pulp, chemicals and energy in combination with high freight rates make price adjustments unavoidable.

Weyerhaeuser CEO Devin Stockfish believes the home-building and renovation boom could keep wood demand strong for another decade.

Kimberly-Clark Corp. announced Monday, June 7, that it has partnered with biotech RWDC Industries to create sustainable plastic alternatives.

Lenzing, a leading global supplier of wood-based specialty fibers, and Södra, a world-class producer of pulp, signed a cooperation agreement today, June 02, 2021, with the clear objective of making a decisive contribution to addressing the enormous textile waste challenges of the industry and the society.

UPM has entered a partnership with Aalto Design Factory to study sustainable design. Aalto Design Factory will investigate the extent that sustainability guides designers' choices and explore new perspectives and ways of addressing sustainability throughout the life cycle of products and services. For example, decisions on materials are often made already during early design phases, and these have a significant impact on the resulting product sustainability.

New-Indy continues to work cooperatively with local, state and federal authorities.

Canfor Corporation says will invest approximately US$160 million to build a new sawmill near DeRidder, Louisiana. The company will receive state and local incentives in support of the project. The facility will have an annual production capacity of 250 million board feet on a two-shift basis and will directly employ about 130 people plus create significant additional indirect jobs.

Resolute Forest Products Inc. declared a special cash dividend of $1.00 per share of common stock, payable on July 7 for holders of record at the close of business on June 28. The company also announced additional capital investments of $50 million in its wood products operations to support its continued growth, and it confirmed the repayment of all amounts outstanding under its revolving and term credit facilities, reducing debt by $180 million in the second quarter.

Smurfit Kappa's Bag-in-Box division has announced the completion of a €12 million investment in a new flexible material production facility at its plant in Ibi, Spain.

Stora Enso has decided to invest EUR 21 million to improve the competitiveness and environmental performance of the Anjala-Ingerois production sites. Stora Enso will also invest EUR 26 million in modernising the pulp production at Nymölla in Sweden.

Further to the announcement on February 16, 2021, that the hygiene and health company Essity had entered an agreement to acquire the remaining 63.8% of the shares in the Australian hygiene company Asaleo Care, Essity today notes the announcement by Asaleo Care, that the company's shareholders voted in favor of accepting Essity's offer.

On June 8, the State Assembly's Committee on State Affairs voted to pass Assembly Bill No. 367 (AB 367), which will provide state assistance to support the purchase of the former Verso paper mill in Wisconsin Rapids.

Ennis, Inc. announced its acquisition of the assets and business from AmeriPrint Corporation in Harvard, Illinois. The closing occurred on Monday, May 31, 2021, Memorial Day. AmeriPrint Corporation is a trade printer specializing in custom-printed documents, barcoding, integrated products, and business forms.

Huhtamaki has completed the acquisition of Jiangsu Hihio-Art Packaging Co. Ltd.'s assets. Jiangsu Hihio-Art Packaging is a privately owned manufacturer of paper bags, wraps and folding carton packaging in China. The acquisition strengthens Huhtamaki's position as the leading foodservice packaging provider in Asia and expands its product portfolio allowing it to better serve both existing and new customers in China.

International Paper Company has completed the sale of its 90.38% shareholdings interest in Olmuksan International Paper to Mondi Group for roughly €66 million ($81 million). This Olmuksan business includes five corrugated packaging facilities in Turkey, with an annual converting capacity of three hundred thousand tons.

A nonprofit group says it has bought more than 6,150 acres (2,488 hectares) of forest to be kept in conservation in southeast Georgia.

Prairie Industries, along with its partner company Nu-Pak, announced its new name for the combined organization: Truvant. The announcement coincides with Prairie's recent acquisition of Sonoco's European contract packaging business.

Smurfit Kappa Group, one of the world's largest integrated manufacturers of paper-based packaging products with operations in Europe and the Americas, is pleased to announce that it has completed the acquisition of Cartones del Pacifico, a leading paper-based packaging company in Peru.

American Eagle Paper Mills announced today Allan Bobb, Machine Room Superintendent, and Colin Symons, Furnish Prep Manager, have become the first employees invited to the ownership team since the Mill reopened in 2003.

Clearwater Paper announced it's closing the Neenah mill that employs almost 300 people as the company takes a new direction.

Correll led Georgia-Pacific and was a philanthropist who left fingerprints around the state. He was called on by mayors, business leaders, and friends for help for a particular reason.

Georgia-Pacific broke ground on a state-of-the-art gypsum wallboard production facility near Sweetwater.

Louisiana-Pacific Corp. said it will break ground this week on a $150 million conversion of its mill in New Limerick to turn out the company's flagship siding and trim product.

Red Leaf Pulp Ltd., developer of a proprietary wheat straw-based pulp mill, announced the Company will locate its initial facility in Regina, Saskatchewan. The Company has secured properties on the west side of the City of Regina and will commence construction of the $350 Million facility in early 2022.

Reducing carbon dioxide emissions, water protection, and using energy more efficiently are key targets of Kotkamills' strategy. In 2020, significant investments were made to improve the mill's energy efficiency. The aim is to complete the big project to reduce the wastewater treatment plant's load and the mill's carbon dioxide emissions by August 2021. Investment projects stretching also into 2022 have been launched.

Verso Corporation announced that Brian D. Cullen will become its Senior Vice President and Chief Financial Officer effective June 16, 2021.

WestRock Company announced the future retirement of Jeff Chalovich, president of Corrugated Packaging and chief commercial officer, after an incredible 23-year career with WestRock. Moving forward, WestRock has also announced an evolution of its commercial and operational leadership structure and team reporting to president and chief executive officer, David B. Sewell.

UPM has completed the employee consultation process in Finland started in April. The company will improve efficiency in global functions by reorganizing and streamlining the operations. As a result, the number of employments in Finland will decrease by 28. In Germany and Austria, the process is still on-going.

LSC Communications announced that its Book Division, the largest book producer in the United States, will now operate as Lakeside Book Company ("Lakeside"). In addition to book manufacturing, Lakeside provides distribution, sales and marketing services, as well as IP and brand protection technology for book publishers and others requiring premium quality print and distribution-related services. The new name of the Book Division as Lakeside Book Company is rooted in the company's rich history and marks a renewed commitment to providing best-in-class printing and fulfillment services.

Norske Skog will close its Tasman Mill at the end of June, with 160 staff to be made redundant.

In the context of the upcoming World Environment Day, and following a year of work and consultations with stakeholders, Cascades, the 17th most sustainable company in the world according to Global 100, is pleased to launch its fourth Sustainability Action Plan, the most ambitious in its history: "Driving Positive Change".

Cascades Containerboard in Niagara Falls will be altering its sludge handling practices after complaints from residents, businesses and politicians.

The papermaking industry has a reputation for being energy hungry. But another investment in innovation at our Kemsley mill has cut the power consumption of our paper machines.

DS Smith has announced a series of ambitious climate targets. This includes a science-based target which requires at least a 40% reduction of CO2 emissions per tonne of product by 2030, compared to 2019 levels, and a commitment to reach Net Zero emissions by 2050.

Lenzing Group is continuing to make great strides toward achieving carbon neutrality across the Group. The successful completion and commissioning of an air purification and sulfur recovery plant at the Lenzing facility marks another milestone in the Group's strategy. Lenzing has invested some Euro 40 million in this project since construction began in 2019.

The Lenzing Group, the globally leading supplier of sustainably produced specialty fibers, welcomes the issuance of the guidelines for the implementation of the Single-Use Plastics Directive (EU) 2019/904, which took effect on June 05, 2019.

Mondi PLC said that it has signed a new five-year multicurrency revolving credit facility worth 750 million euros ($909.5 million) and linked to certain sustainability targets.

Northern Pulp has submitted a proposed plan to the Nova Scotia Environment Department that a company official says will "transform" the beleaguered and shuttered Pictou County mill.

Port Hawkesbury Paper (PHP) has announced the successful transition of its Forest Stewardship Council (FSC) Maritime certification to the new FSC national standard for responsible forest management in Canada.

Stora Enso has joined the new WWF platform, Forests Forward. The platform engages businesses and investors to deliver on forest related sustainability ambitions, such as biodiversity protection and forest restoration.

Uncertainties amid the COVID-19 pandemic kept the relatively new mill closed for more than a year.

As we enter National Safety Month 2021 in June, we're proud to say Domtar facilities are on a positive trend, with several sites or groups recently achieving safety milestones.

Metsä Group is expanding the operations of its innovation company Metsä Spring that was established in June 2018. So far, Metsä Spring has been mainly involved in development activities outside the current business areas of Metsä Group. From now on, it will also support research and development related to Metsä Group's current business areas.

Metsä Group has started a planning process with the City of Äänekoski with the aim of expanding the production of mechanical wood products at the Äänekoski mill site in the future.

Paper Excellence announced that several key roles have been filled as work to restart the Prince Albert pulp mill ramps up.

Smurfit Kappa has announced an investment of €11.5 million in its Zülpich paper mill in Germany, which produces approximately 500,000 tonnes of paper annually.

The cause of a fire last week at the idled Verso paper mill in Wisconsin Rapids is still under investigation, but company leaders say they do not anticipate it will affect "any future plans or options for the mill."