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The PM40 closed Friday, 29 April 2022, at 4473.

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 29 April 2022 up 3.3% from the 30 April 2021 level.

In this issue of Disconnected Comparisons, we evaluate Amcor and Louisiana Pacific.

Reported insider trading since the last issue of PaperMoney.

We have talked in this column in the past about turmoil in society reflected in the pulp and paper industry. Turmoil today seems to be worse than we have seen in a long time. From environmental activism to war to inflation to threats of hacking to evaporating world markets, the pulp and paper industry is being hit on many sides with existential threats. This is where solid managers shine, finding ways to take advantage of the conditions on one hand while playing defense with the other.

Have you ever lied to your boss?

The start-ups are scheduled for 2022.

Work on site will begin late in 2022 and startup of the sawmill is scheduled for the 1Q 2024.

Kadant Solutions, a division of Kadant Inc. (NYSE: KAI), announced the launch of the Kadant Access Portal (KAP). KAP is designed for Kadant Solutions' customers across all industries to enhance the customer experience and provide online self-serve tools. The portal offers users a comprehensive suite of information management tools through a secure online portal that is tailored to the specific wants and needs of each customer.

LD Celulose S.A, a joint venture between the Austrian company Lenzing and the Brazilian company Dexco, invested about $1.3 billion in a 500,000 tonne/year dissolving wood pulp mill in the Triângulo Mineiro region in Brazil. Valmet delivered the key process islands and integrated automation solutions for the mill. The equipment operations and the production ramp-up in the new mill have now successfully started.

Valmet will deliver a TwinRoll™ Evolution wash press and a screw conveyor to Nippon Paper Industries Co. Ltd. Akita mill. The start-up is scheduled for end of May 2023.

Andritz has received an order from Papierfabriek Doetinchem, Netherlands, to upgrade the wet sections of its PM1 and PM3 special paper machines. The start-ups are scheduled for 2022.

Starting from January 1, 2022, Valmet has decided to change its financial reporting structure to better highlight the performance of Valmet's businesses. The new reporting structure reflects Valmet's operational model, anticipates the integration of Neles into Valmet, and is aligned with the way Valmet management follows the operational performance of Valmet's businesses.

The start-up of the new production line PM14 is scheduled for 2023.

Ahlstrom-Munksjö reinforces its commitment to the PSA (Pressure Sensitive Adhesive) industry worldwide by launching its biggest-ever global range of sustainable release papers for silicone coating.

Are flushable wipes actually flushable? That concern has become the leading barrier to Americans adopting flushable wipes into their bathroom routines. Category leader Cottonelle® wants consumers to know its flushable wipes have always been flushable, and the latest product improvement has enhanced the wipes flushability so they break down like toilet paper.

Huhtamaki, a key global provider of sustainable packaging solutions, announces a first-to-market sustainable innovation for the global pharmaceutical and healthcare industry. Huhtamaki's Push Tab® blister lid is mono-material PET and free from aluminum.

Mondi, a global leader in packaging and paper, is highlighting the need for innovative packaging solutions in the fresh food industry by introducing two new recyclable packaging products - a paper-based tray and a semi-rigid plastic tray - at Anuga FoodTec.

Neenah, Inc., a leading global manufacturer of materials focused on filtration media, specialty coatings, engineered materials as well as imaging and packaging, announced a versatile paper-based medical packaging capable of withstanding all three widely used sterilization processes, including radiation, autoclave, and ethylene oxide.

Sappi, a leading producer and supplier of diversified paper, packaging products and dissolving pulp, launched Arrio, a decorative laminate surface solution that delivers remarkable aesthetics, premium haptics and scratch and fingerprint resistance for high-wear surfaces.

In celebration of Earth Week, Sappi North America, Inc., a leading producer and supplier of diversified paper, packaging products and pulp, released From Forest to Forest, a pop-up book made from Sappi's premium line of paperboard, Spectro®, that highlights responsible forestry management.

Smurfit Kappa has introduced a cleverly engineered new packaging solution for detergent pods and capsules. The child-proof TopLock Box provides a safe, convenient and sustainable alternative to the traditional plastic box for laundry products.

Sun Chemical has launched ElvaJet Onyx SB - a new sublimation ink for textile printing. ElvaJet Onyx SB addresses market needs by delivering a high-performance ink that offers ease of use for wide-format textile printers.

Sappi Europe informs customers about ongoing challenges to cope with further increases of pulp, energy, chemicals and transportation costs.

Södra raises prices for softwood and hardwood pulpwood. The background is the market's high demand in the short and long term.

The board adopted the plan after Atlas Holdings confirmed it entered into a block trade that would give Atlas nearly 14% of Sylvamo's outstanding shares and informed Sylvamo it also holds an unspecified amount of derivatives on Sylvamo shares. Sylvamo's leaders maintain open dialogue with Sylvamo's investors, including Atlas, and plan to continue these conversations. Sylvamo recognizes Atlas' extensive experience in the paper industry.

West Fraser Timber Co. Ltd. announced that its board of directors (the "Board") has approved the commencement of a substantial issuer bid (the "Offer") pursuant to which the Company will offer to purchase from shareholders for cancellation up to US$1.25 billion of its outstanding Common shares (the "Shares").

WestRock Company, a leading provider of differentiated paper and packaging solutions, has announced a partnership with Recipe Unlimited to implement a suite of recyclable paperboard packaging, intended to divert 31 million plastic containers from landfills across Canada each year. The packaging began appearing at Swiss Chalet restaurants in October, 2021 and is now available across all its locations.

Joining forces with leading beverage producers, Tetra Pak is launching tethered caps on carton packages. Marking a significant milestone in the company's long-term work on design for recycling, five new tethered cap solutions are currently being introduced across Ireland, the Baltics, Spain and Germany in different product categories - a market first for these geographies.

Columbia Pulp LLC, headquartered in Dayton, was ordered to hand over its assets to a property management group just a few days before a court order would have mandated an auction of the multi-million dollar pulp mill on the Columbia County Courthouse steps.

The 6th U.S. Circuit Court of Appeals said Georgia-Pacific's 2010 lawsuit was time-barred because its own liability had been established in a separate lawsuit against other companies in 1998, even though the damages were unknown at that point.

The multi-million-dollar investment will strengthen Amcor's leadership in the growing industry for sterile packaging, offering customers in Europe and North America another site with comprehensive healthcare solutions.

Canfor Corporation will invest approximately $130 million to significantly upgrade and expand its sawmill and planer facility located in Urbana in Union County, Arkansas. The investment will capitalize on the abundant supply of high-quality fiber to enhance the manufacturing of high-value products, increase annual production at the facility by 115 million board feet, and result in a meaningful reduction in the facility's cost structure.

The renovations are expected to take three years. In addition to improving safety and efficiency, a new production line will be installed.

Apollo announced that funds managed by Apollo affiliates have completed the acquisition of a majority stake in Novolex Holdings LLC, a leading global manufacturer of diverse and sustainable packaging products for the foodservice, delivery and carryout, food processor and industrial markets, from funds managed by Carlyle. Carlyle will retain a minority stake in the Company.

Domtar has agreed to transfer ownership of the land to NCC for $7 million below its appraised value as a part of this partnership.

Weyerhaeuser Company announced an agreement to purchase 80,800 acres of high-quality timberlands in North and South Carolina from a fund managed by Campbell Global for approximately $265 million.

Essity has initiated an exit from the Russian market, according to the company's quarterly report. Essity's conditions to pursue business in Russia have worsened, the company said. As a result, the Essity's assets in Russia were impaired by approximately SEK 1.4 billion ($146.7 million).

UPM and the Paperworkers' Union have agreed on first-ever business-specific collective labour agreements for five UPM businesses. The strike at UPM mills in Finland will end immediately and employees will return to work. The strike covered UPM Pulp, UPM Communication Papers, UPM Specialty Papers, UPM Raflatac and UPM Biofuels units in Finland. UPM will restart customer deliveries as soon as possible.

Stora Enso has entered into an agreement to divest its two sawmills in Russia. The Company's Nebolchi and Impilahti sawmills will be divested to local management. In addition, the divestment includes Stora Enso's Russian forest operation which through its harvesting supplies wood to the sawmills.

UFP Industries, Inc. announced that President and COO Pat Webster will retire at the end of 2022 after a remarkable career spanning nearly four decades at the company. Over the next several months, Pat's duties will be transferred to existing or new members of the leadership team as part of the company's 2020 reorganization plan.

In order to help facilitate the Company's financial restructuring, Dunn Paper's Board of Directors has named David Coles as Chief Restructuring Officer. Mr. Coles is a seasoned financial restructuring expert and a Managing Director of Alvarez and Marsal, a leading restructuring firm.

In an article from Kenora Online, it stated that Ontario, Canada will use leftover wood from mills for energy and new products.

Building on our comprehensive sustainability strategy announced in October 2021, Canfor Corporation is announcing the implementation of a comprehensive plan to achieve net-zero carbon emissions by 2050.

The 100% recycled PET composition of this tray and its optimized design make it a leading alternative to hard-to-recycle food packaging.

Greif, Inc., a global leader in industrial packaging products and services, announced the release of its online 2021 Sustainability Report describing the Company's efforts to advance its environmental, social and governance (ESG) priorities. This is Greif's 13th consecutive annual publication and details the Company's continued commitment to creating shared value for customers, stakeholders and the environment.

Mercer International Inc. announced its 35% Greenhouse Gas reduction target by 2030 has been approved by the Science Based Targets initiative (SBTi) as consistent with the levels required to meet the goals of the Paris Agreement. The approval formally recognizes Mercer as a leading company and the first in Canada and one of the first North American companies in the forest and paper products sector with approved targets.

Dalhousie University researchers tracking air pollutants released by the Atlantic Canadian pulp and paper industry over nearly two decades say emissions from the Northern Pulp operation in Nova Scotia were higher than all other mills combined -- and exceeded recommended federal thresholds for particulates by a "staggering" 100,000 per cent.

The report highlights the company's progress towards its long-standing goal of driving change and supporting a greener planet through the three main pillars of Planet, People and Impactful Business. It shows that the company's actions are delivering today, and together with its ongoing investments and continuous improvement, it is well positioned to deliver on its long-term ambition to have net zero emissions by 2050.

Stora Enso will invest EUR 10 million at its Enocell pulp mill in Finland to replace fossil-based heavy fuel oil with renewable pitch oil. This will reduce the environmental impact of the operations and help in reaching the ambitious target for reducing greenhouse gas emissions.

Firemen from Castanea, Lock Haven and the surrounding area were in service for three hours responding to a late Tuesday morning (April 19) alarm at First Quality's Lock Haven Tissue facility.

Pregis has invested in a new 1960 square meter (21,000 square foot) customer experience facility in Europe designed to provide a holistic solutions approach to protective packaging challenges and reduce costly waste incurred by damaged products.