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The PM40 closed Friday, 30 July 2021, at 4187.

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 July 2021 up 75.7% from the 31 July 2020 level.

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

Reported insider trading since the last issue of PaperMoney.

For sure, your job as CEO just got tougher, and pulling out the employee handbook from 2019 seems so, well, so 2019.

International technology Group ANDRITZ has launched CircleToZero®, a holistic program for the pulp-producing industry with the goal of providing strong support to customers in their efforts to achieve maximum, sustainable production, aiming at zero emissions and zero waste production.

Andritz Inc., a member of international technology Group Andritz, has been selected by Domtar Corporation to provide equipment and technical services for conversion of a power boiler and a recovery boiler at their Kingsport paper mill, in Kingsport, Tennessee, USA. This mill will be converted into Domtar's first packaging facility.

International technology Group Andritz has received an order from Shandong Huatai Paper Industry Shareholding to upgrade an existing BCTMP (bleached chemi-thermo-mechanical pulp) plant to become the world's largest mechanical pulping line for P&W (Printing & Writing) paper production at the mill in Dongying, Shandong province, China. Start-up is scheduled for the 4Q 2022.

Solenis, a leading global producer of specialty chemicals, is joining forces with Pulpex Limited and its global consortium partners to collaborate on the ongoing evolution of the Pulpex eco-friendly paper bottle.

Andritz has received an order from ST Paper to supply a new tissue machine for its recently acquired site in Duluth, Minnesota, USA. Start-up is planned for the end of 2022.

Toscotec has received an order from Sappi to supply a TT SYD Steel Yankee Dryer to their mill in Stanger, South Africa. The TT SYD was delivered in record time only 20 weeks after the order. The start-up is planned for the 3Q 2021.

GrandBay Group placed an order with Toscotec for one AHEAD 2.2L complete tissue line to be installed at its subsidiary Papelera Internacional in Rio Hondo Zacapa, Guatemala. The start-up is scheduled for late 2022.

Eczacibasi Consumer Products has chosen Valmet as the supplier for their new tissue line, which will be installed at the company's Manisa Plant in Turkey. The new Valmet Advantage DCT 200TS line, including stock-preparation, automation and Focus rewinder will support the company's rapid growth in global tissue paper markets.

Valmet will deliver equipment and services for a rebuild of the hardwood pulp line at Holmen's Iggesund mill in Sweden. The rebuild will cut variable costs and improve production stability. The work will be implemented during the second half of 2022.

Veracel Celulose S.A., one of the biggest pulp producers in Brazil and part of Europe's second largest paper producer Stora Enso, has commissioned Voith to upgrade its Quality Control System (QCS) of scanner and sensors for the company's PDM 1 in Eunapólis, Brazil. The upgrade comprises a complete rebuild of one of the biggest scanners supplied by Voith to a customer in South America.

Graphic Packaging Holding Company announced the release of OptiCycle™, a new, innovative line of non-polyethylene (PE) coated, single-use foodservice packaging that provides an alternative to traditional PE and polylactic acid (PLA) coated products.

P&G unveils its first paper bottle for Lenor in partnership with paper bottle company Paboco, announcing a pilot for Western Europe in 2022. The trial rollout will form the basis of a test and learn strategy to scale up paper packaging and incorporate it more widely across P&G's portfolio.

As a significant, long-term shareholder of RRD, Chatham strongly urges the Board not to renew its value destructive and insulating stockholder rights plan (the "Poison Pill") upon its expiration on August 28, 2021. Moreover, Chatham recommends the Board engage an external advisor to undertake a strategic review of the Company's assets to unlock the intrinsic value of RRD and improve its share price.

The ongoing rise of raw material costs, particularly pulp, chemicals and energy in combination with extremely high freight rates due to global logistic constraints make further price adjustments unavoidable.

The Ahlstrom-Munksjö Mosinee plant in Wisconsin is teaming up with Via Separations to pilot a cutting edge energy efficiency project. Together, they are validating Via Separations' Black Liquor Concentration System, which is driven by an innovation in membrane material and system design.

DS Smith has adopted Trimble's powerful data mining platform, Wedge, at its paper mill in Kemsley in Kent - the largest mill for recycled papers in the UK.

Huhtamaki, a key global provider of sustainable packaging solutions and Syntegon, the German processing and packaging technology provider, announce a breakthrough innovation for the pharmaceutical and healthcare industry.

Unilever, together with Mondi, a global leader in packaging and paper, have developed a new high barrier paper-based packaging material for Unilever's Colman's dry Meal Maker and Sauces range by reducing plastic, increasing paper content, and consequently ensuring recyclability in the existing UK paper waste stream.

The two companies will partner to provide circular solutions to the market. The investment in a complete recycling solution is set to significantly improve recycling throughout Central and Eastern Europe.

Gov. John Bel Edwards, Hunt Forest Products co-owner James D. Hunt and Tolko President and CEO Brad Thorlakson announced that the companies will develop a new $240 million sawmill in Bienville Parish. Resulting from the collaboration of these two companies, the joint venture company will create 130 direct new jobs, with an average salary of $57,400, plus benefits.

Metsä Board announced an investment of Euro 210 million in increasing folding boxboard capacity at its Husum mill in Sweden. The company is responding to growing demand for sustainably produced packaging materials that support the circular economy.

Pratt Paper, a part of sustainable packaging company Pratt Industries, is planning to invest $400 million in a paper mill in Henderson, Gov. Andy Beshear announced Thursday -- resulting in 320 high-paying full-time jobs.

Pregis, a leading global manufacturer of protective packaging, is announcing a $80 million investment in a new, state-of-the-art blown film extrusion facility in Anderson, South Carolina.

Avery Dennison announced that it has signed an agreement to acquire Vestcom, a privately held market-leading provider of pricing and branded labeling solutions at the shelf-edge for retailers and consumer packaged goods companies, for $1.45 billion in a cash transaction, subject to certain closing and post-closing adjustments.

Stockholders of Domtar Corporation today approved a proposal to adopt a business combination with Paper Excellence B.V. whereby Karta Halten B.V., an affiliate of Paper Excellence, will acquire all of the issued and outstanding shares of Domtar common stock for $55.50 per share in cash pursuant to an agreement and plan of merger dated May 10, 2021 (the "Merger").

The acquisition will increase Glatfelter's diversification into attractive and complementary segments serving the growing wipes, healthcare and hygiene categories.

A newly formed company, Roaring Spring Park, LLC, has just closed on the facility and has been actively involved in identifying and supporting potential uses for the plant and the site, including restarting the paper mill and/or repurposing the assets.

Rayonier Inc. has sold the rights to manage two timber funds (Fund III and Fund IV) that were previously managed by its Olympic Resource Management (ORM) subsidiary, as well as its co-investment stake in both funds, to BTG Pactual's Timberland Investment Group (TIG) for an aggregate purchase price prior to closing costs of $35.9 million. The transaction will be reflected in third quarter financial results.

Smurfit Kappa says it is buying Verzuolo, a containerboard business in northern Italy, for a cash consideration of €360 million. The Verzuolo mill owned by the Burgo Group, is situated close to the port of Savona in the northwest of Italy. The PM9 machine was newly constructed in 2002 and converted into a 600,000 tonne capacity recycled containerboard machine in 2019.

CompanyBox, the Charlotte-based corrugated packaging company, reported a significant expansion in capacity and nationwide corrugated digital print solutions with the multi-million dollar investment in a second HP C500 press. The purchase adds to its robust suite of digital equipment and further strengthens capabilities for all sizes of business.

International Paper subsidiary Sylvamo has chosen an East Memphis headquarters after being awarded a jobs Payment-In-Lieu-Of-Taxes inventive by the Economic Development Growth Engine for Memphis and Shelby County.

BillerudKorsnäs is in a process with the aim of divesting the paper mill in Beetham, UK. The process is ongoing and no binding agreement to divest the mill has yet been entered into. Since BillerudKorsnäs' machine glazed (MG) paper business has primarily been focused in Skärblacka, the strategic importance of Beetham to the rest of the group has been reduced.

Pactiv Evergreen on July 28, 2021 announced that the Company has made the difficult decision to exit the coated groundwood paper business. As a result, the Company will permanently cease production of coated groundwood paper at its Pine Bluff, AR location. The Company will continue to strategically invest in the Pine Bluff mill, which will remain an essential facility in the Pactiv Evergreen operations network, serving the fiber-based beverage packaging market.

Researchers: Recycled paper could cool buildings without electricity

Sustainable packaging leader DS Smith's paper mill in southeast Georgia has earned top honors as an industry leader in energy efficiency.

Sustainable packaging leader DS Smith's paper mill in southeast Georgia has earned top honors as an industry leader in energy efficiency.

DS Smith is partnering with One Tree Planted to plant more than 50,000 new trees across Europe and North America over the next five years.

Kimberly-Clark's energy project at Maverick Creek, a 50,000-acre wind farm in Eden, Texas owned and operated by Algonquin Power & Utilities Corp., received the Top Project of the Year Award in the elite Environment + Energy Leader Awards program. The win is an indication the program's expert judges consider Kimberly-Clark's Maverick Creek project a top example of the exemplary work being done today in the fields of energy and environmental management.

Nova Scotia's three main political party leaders might not agree on much, but there's one issue on which they share the same view: if the owners of the Northern Pulp mill in Pictou County get approval to reopen the beleaguered site, they should not count on financial assistance from the next provincial government.

The Lenzing Group, a world-leading provider of wood-based specialty fibers for the textile and nonwoven industries, is investing GBP 20 mn (equal to EUR 23.3 mn) to build a new, state-of-the-art wastewater treatment plant at its site in Grimsby, United Kingdom.

Due to severe fire danger in the region, effective immediately and until further notice, all public use of PotlatchDeltic privately-owned timberlands for recreation is suspended. The extreme fire season and continued dry conditions in Idaho are stressing available firefighting resources and risking public safety, property, and impacting wildlife.

Ahlstrom-Munksjö will restart one of its saturator in its Turin plant in Italy to support strong demand for high performance filtration media.

The Vancouver-based lumber producer says about 115 million board feet of capacity will be reduced during the third quarter due to significant supply chain challenges and a transportation backlog.

The Public and Private Workers of Canada Local 2 is bringing attention to issues at the Paper Excellence Canada Catalyst Crofton mill it says have plagued the membership for quite some time.

Swedish forestry group Södra's three pulp mills in Värö, Mörrum, and Mönsterås, Sweden, are jointly making a major investment in one thousand wireless Airius vibration sensors with temperature measurement that transfer vibration data via the cellular network.

Sonae Arauco inaugurated a distribution centre (DC) for the North East Europe (NEE) region. Shorter delivery times and greater flexibility offer improved planning reliability for customers. This has been made possible by restructuring the logistics processes and, last but not least, the new Sonae Arauco Distribution Centre.

Stora Enso's pilot facility for producing bio-based carbon materials from lignin has started operations. This follows the company's EUR 10 million investment announced in 2019. Pilot production of Lignode® by Stora Enso, wood-based carbon for batteries, is currently being ramped up. Applications include electric vehicles and consumer electronics as well as large-scale energy storage systems.

The civil unrest referenced in our market update of 14th July appears to be under control. Intensive work by government agencies and business is focused on ensuring that supply chain disruptions are resolved, and people can move safely to and from work. Sappi's employees at the affected mills were able to return to work on Monday 19th July.