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The PM40 closed Friday, 17 September 2021, at 4207.

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 17 September 2021 up 37.1% from the 18 September 2020 level.

In this issue of Disconnected Comparisons, we evaluate Universal Forest Products and Resolute Forest Products.

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 Theodore Wegner, who was inducted into the Hall of Fame in 2013

Start-up of the new equipment is planned for the end of 2022.

Start-up is planned for the end of 2022.

Bellmer to supply upgrades for kraft liner board machine at Sappi's Ngodwana mill in South Africa. Sappi Ngodwana is an integrated Paper Mill producing kraft pulp and kraft liner board. It is located in Mpumalanga province, South Africa.

Kemira announces a significant investment in the production of alkenyl succinic anhydride sizing agent (ASA) in China. ASA is one of the most effective and cost-efficient sizing agents for improving water-resistance in paper and packaging board.

Valmet concluded on September 9th the delivery of the evaporation and white liquor plants in Project Star, the new Bracell's dissolving pulp mill, located in Lençóis Paulista, state of São Paulo, Brazil. The delivery includes equipment of high technological level, in terms of technical, energy and environmental performance.

Valmet and UPM have signed an extension of the existing maintenance operations agreement for UPM's Platting mill in Germany, for an additional three years.

Valmet will supply Valmet IQ Scanners and Valmet IQ Dilution Profiler to Xinxiang Xinya Paper Co., Ltd. in China. The systems will be installed on Xinxiang Xinya Paper's paper machine PM2 to improve production runnability and end-product quality.

Valmet will supply a new container board making line with extensive packages of automation and services to Batı Kipas Kagıt Sanayi İsletmeleri in Söke, Turkey. The new board making line (PM 3) will produce high-quality fluting and liner grades. The start-up of PM 3 is scheduled for the third quarter of 2023.

Eco-friendly alternatives to petroleum-based packaging have long been sought. An innovative and sustainable solution is the versatile barrier papers that are recyclable and ideally biodegradable. The coating process for these papers is demanding; in addition to the perfect application of one or more functional layers, the drying of the sometimes temperature-sensitive application media is a challenge.

Glass-Gard® interleaving papers protect automotive glass applications such as windshields, backlights, sunroofs, or side windows from scratching, breakage, abrasion and hazing prior to their installation in vehicles.

Ahlstrom-Munksjö has been awarded with EcoVadis Gold rating for the company's sustainability management and performance for a fifth consecutive year. This places Ahlstrom-Munksjö in the top 2% of suppliers assessed in the pulp, paper and paperboard manufacturing industry. Compared with the results from the previous year, progress was made in ethics.

Yeast made from Norwegian spruce trees is a high-quality feed ingredient that can replace imported protein. A fruitful collaboration between industry and research has for the first time successfully achieved a large-scale production of yeast from local, sustainable resources.

Fiber-based consumer packaging leader Graphic Packaging International ('Graphic Packaging') has seen major success at this year's European Carton Excellence Awards after scooping three titles for its sustainable solutions.

Huhtamaki scores rose from 65 (94th percentile) in 2020, to 71 points (97th percentile) this year. This significant improvement was driven by the company's environmental policy and actions towards energy efficiency and waste management, as well as sustainable procurement.

The winners of the Public Award and the General Packaging Platinum Award at the 2021 European Carton Excellence Awards were produced with paperboard from Metsä Board, part of Metsä Group. The results were announced at a virtual ceremony held on 8th September.

One hundred percent of Monadnock's papers are made with renewable wind-powered electricity that is certified by Green-e®.

Mondi, global leader in packaging and paper, has won three awards for sustainable packaging at the Austrian Green Packaging Star Awards.

Norske Skog's ESG report for 2020 receives an A- in consultancy Governance Group's assessment of the sustainability reporting from the 100 largest companies on the Oslo Stock Exchange.

A new report by Drapers, the B2B publication covering the fashion retail industry, in partnership with Smurfit Kappa, the leading paper-based packaging company, has revealed that packaging matters to UK consumers and plays a significant role in the purchasing decisions of shoppers. Nearly two-thirds of respondents (64%) stated they are more likely to purchase from a brand or retailer if it uses sustainable packaging.

Coupa Software, a leader in Business Spend Management (BSM), today announced that Sonoco, a global packaging solutions leader with more than $5 billion in annual revenue, has successfully deployed Coupa Pay and virtual cards across the organization to gain enhanced visibility and control into its spend and transform business processes.

Mondi, a global leader in packaging and paper, has worked with Nordic food manufacturer HKScan to provide renewable paper-based packaging for its best-selling Falukorv sausage.

The Nature Conservancy (TNC) and the BTG Pactual Timberland Investment Group (TIG), one of the world's largest timberland investment managers, are joining forces to leverage the potential of sustainably managed forests across the United States to address the twin crises of biodiversity loss and climate change.

Graphic Packaging International, LLC, the primary operating subsidiary of Graphic Packaging Holding Company, announced that it has entered into an agreement for $100 million aggregate principal amount of tax-exempt green bonds due 2061 with a mandatory purchase date of October 1, 2026 (the "Tax-Exempt Green Bonds"). The offering is being executed through the Michigan Strategic Fund ("MSF") Private Activity Bond Program.

Sylvamo common stock began trading on a "when-issued" basis on the NYSE under the symbol "SLVM WI" on September 14, 2021. On October 1, 2021, "regular way" trading under the symbol "SLVM" is expected to begin. The CUSIP number for the Sylvamo common stock will be 871332 102 when regular way trading begins.

Smurfit Kappa Group has launched its Green Finance Framework and commences discussions with potential investors on a new green financing transaction.

SOSA, the global open innovation company, together with The Brazilian National Confederation of Industry (CNI), announces a partnership with Suzano, the world's leading eucalyptus pulp producer and a global benchmark in bio-based products developed from eucalyptus. The program will involve Suzano partnering with SOSA and CNI, in order to enhance its Industrial IoT and bolster the company's "innovalability", a concept that joins innovation and sustainability.

Sappi has entered a strategic partnership with Rovema, a packaging machine manufacturer based in Germany.

Sonoco announced it has partnered with AMP Robotics, a pioneer in AI, robotics and infrastructure for the waste and recycling industry, to create a new material category within AMP's neural network specific to rigid paperboard cans. The U.S. partnership will result in increased recycling rates for the spiral wound paper canister with steel bottom produced by Sonoco and other manufacturers.

The Supreme Administrative Court has partly accepted Valmet's appeal related to the reassessment decision received by Valmet Technologies Inc concerning tax years 2010-2012.

Metsä Group is planning to construct a new Kerto LVL mill on its expanding mill area in Äänekoski, Finland. The final decision on the investment, the value of which is approximately Euro 200 million, is pending the completion of a local detailed plan for the area. The new Kerto LVL mill is expected to use around 375,000 m3 of log procured from Finland.

The $250 million One Sky mill plans to have to the ability to produce 600 million square feet (3/8-inch basis) of OSB annually.

Södra's sustainable timber construction business is expanding - all the way to Denmark. Södra already operates in Denmark but is now establishing a new position in CLT across the country and expanding the existing business.

The Carlyle Group has consulted banks about either selling or taking Novolex public in a deal that would value the South Carolina-based packaging company at around $6 billion, news outlets reported.

Pactiv Evergreen Inc. announced that its wholly-owned subsidiary, Pactiv Evergreen Group Holdings Inc. has reached a definitive agreement to acquire Fabri-Kal, a leading manufacturer of foodservice and consumer brand packaging solutions.

That company could liquidate it.

Ahlstrom-Munksjö announced it plans to temporarily idle No. 8 paper machine in December 2021 at its Rhinelander mill. It will also idle its No. 20 supercalender and No. 21 rewinder in July 2022.

Resolute Forest Products Inc. announced that the board of directors appointed, effective today, Duncan K. Davies as an additional member of the company's board, and that Mr. Davies will succeed Bradley P. Martin as the company's non-executive chairman.

The Kemi bioproduct mill project of Metsä Fibre progressing according to plan and the mill's foundation stone was laid 13 September 2021. The foundation stone was laid to the area of fibre line of the new mill by Ismo Nousiainen, CEO of Metsä Fibre, Jari-Pekka Johansson, Project Director of the Kemi bioproduct mill project, and Mika Vuoti, the on-site contact person.

The Supervisory Board of Lenzing AG, the world's leading producer of wood-based cellulosic fibers, has come to a mutual agreement with its longstanding Chief Executive Officer Stefan Doboczky to end his contract.

Paper Excellence has allocated $550 million in capital investments to refurbish and upgrade the facility.

Roger Stone, who built his family's paper firm into a $6 billion industry leader through leveraged acquisitions that ultimately forced its sale, died Sept. 12 at his Lake Forest home, according to his daughter, Karen Stone Kaplan. He was 86 and had been in failing health.

Global Win Capital Corporation (GWCC) ultimately owned by Shanying International, announced the appointment of Michael Grimm as its new president and chief executive officer. Grimm assumes day-to-day leadership of the North American business unit and underlying investment in North America which includes Phoenix Paper Wickliffe LLC. Mr. Grimm brings more than 30 years of relevant manufacturing experience to his new role.

Saica Group, a leading manufacturer of recycled paper for corrugated board, recently announced it will be investing $800 million in the U.S. market, growing through strategic acquisitions or new plant construction during the next five years. This growth follows last year's announcement of Saica's first U.S. corrugated plant in Hamilton, Ohio, scheduled to open in early 2022.

Truvant, a global provider of high-quality packaging services solutions, recently signed a lease and has begun interior construction of a world-class 355,517 square foot building in Hazlet, TX, within the Dallas/Fort Worth metro area. The latest expansion supports Truvant's continued growth and will increase its global network of packaging services facilities, allowing it to better serve its customers in North America. The facility is expected to open in early 2022.

The new owners of the shuttered Ponderay Newsprint in Usk, Washington, have formally requested enough power to restart the mill and build what could be one of the largest cryptocurrency mining operations in the country.

Paper demand is not expected to recover from current levels, but the decline in demand is forecast to continue at the same or a somewhat slower pace. This means that restructuring is necessary.

Heinz has announced today that it is continuing its mission to remove plastic from supermarket shelves with the UK roll-out of the Heinz Eco-Friendly Sleeve Multipack, a new, convenient, super skinny paperboard sleeve for all its multipack canned products.

At Monadnock Paper Mills we are serious about supporting our world's forests. That is why all Monadnock printing and packaging papers meet Forest Stewardship Council® (FSC) standards and bear the FSC logo. Technical/specialty paper grades may be manufactured to FSC standards upon request.

Procter & Gamble is announcing a comprehensive plan to accelerate action related to climate change. P&G has also set a new ambition to achieve net zero greenhouse gas (GHG) emissions across its operations and supply chain, from raw material to retailer, by 2040 as well as interim 2030 goals to make meaningful progress this decade.

Suzano, the world's leading eucalyptus pulp and paper producer and a global benchmark in the manufacture of bioproducts developed from eucalyptus, has joined the 'Business Ambition for 1.5°C' campaign and the 'Science Based Target Initiative' (SBTi), a movement that seeks to promote the reduction of greenhouse gas emissions and resulting transition to a low-carbon economy.

UPM Energy is investing in an ultracapacitor at its Ontojoki hydropower plants, in Kuhmo, Finland.

Kimberly-Clark Corporation announced that it has elected Deirdre Mahlan and Jaime Ramirez to its board of directors, effective immediately. Ms. Mahlan and Mr. Ramirez each will serve on the company's Audit Committee.

Kimberly-Clark Corporation announced that Doug Cunningham, currently Managing Director of Kimberly-Clark Australia and New Zealand, has been named President of its EMEA consumer business, and report to Chairman and CEO Mike Hsu.

The MM (Mayr-Melnhof) Group has appointed Päivi Suutari as the new Managing Director of MM Kotkamills. She will start in her role on October 1.

Metsä Group is now inviting applications for its apprenticeship training programme that will begin in January 2022. Approximately 50 new jobs will be offered in its production units around Finland.

Phoenix Paper finished a $5 million recommissioning project for its pulp dryer at its Wickliffe Mill. The addition of the pulp dryer will allow Phoenix Paper to more efficiently operate the back end of the mill, as well as add a secondary product of baled pulp.

RR Donnelley issued notice it would permanently close its Lewisburg plant in November, with an estimated 70 employees losing jobs.

Due to wildfires in British Columbia, slowing orders for forest products, constraints on the availability of resins used in the manufacture of panel products, transportation service interruptions and overall inventory levels, West Fraser has adjusted output at its British Columbia SPF, US South SYP, North American OSB and Canadian plywood facilities by between 5% and 10% of available capacity over the first two months of the third quarter of 2021.

Worker was charged with attempted murder, aggravated assault with a firearm, false imprisonment and improper exhibition of a dangerous firearm

Walter Tarnowsky, in a statement, said "it was a minor fire that was extinguished by mill crews" and that there were no injuries.