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The PM40 closed Friday, 13 May 2022, at 4384.

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 13 May 2022 down 1.5% from the 14 May 2021 level.

In this issue of Disconnected Comparisons, we evaluate Avery Dennison 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 the late Jaakko Pöyry, who was inducted into the Hall of Fame in 1995.

Start-up is scheduled for the second quarter of 2023.

ANDRITZ has signed an agreement with the Sofidel Group to upgrade hood technology at its Kisa tissue mill in Sweden.

BID Group announces the continued partnership with Canfor to deliver a sawmill modernization project for its Urbana, Arkansas operation. Through its industry-leading wood processing technologies and integrated solutions offering, BID will manage, design, build, equip, install, and provide start-up services for the project. Work on site will begin in the 3Q 2022.

A fire broke out at Valmet's Rautpohja facility in Jyväskylä, Finland, on Saturday, May 7, around 10:40 am ET, company said in a statement. Due to the fire, evacuation of employees was carried out. The fire caused minor injuries to one employee, who received treatment in hospital, but has already been released.

Natron-Hayat Pulp and Paper Mill in Maglaj, Bosnia-Herzegovina, has ordered a press technology upgrade from Valmet. The delivery includes two refurbished Twin Roll Presses and additional equipment and services to secure the trouble-free operation of the presses.

The total maximum value of the order is around Euro 30 million.

A project of this size and scope is typically valued at around EUR 150-170 million.

The target of the investment is to ensure a smooth start-up, to optimize the equipment efficiency and to achieve premium board quality, Valmet announced.

The rebuilt plant is scheduled to start up before the end of 2022.

The ranking is based on the weighted average of three factors: survey data used to gauge builders' perception of the "greenest brand," market data to determine the opinions of builders when discussing a brand, and sentiment data that tracks the number of positive brand mentions by customers who have used or have heard about the products.

Menasha Packaging Company, LLC, a subsidiary of Menasha Corporation, has been selected as the 2021 Global Supplier Excellence Award recipient by Unilever as part of their annual Partner with Purpose Awards. The annual award recognizes the outstanding work and achievements of global Unilever partners and the collaborative relationships that deliver mutual sustainable growth.

Mohawk refined and reorganized its paper portfolio into 5 distinct Collections that help make choosing paper by its properties and attributes easier. Mohawk's paper grades are now grouped into the Beautiful, Sustainable, Expressive, Elevated, and Practical Collections.

Greif, Inc., a global leader in industrial packaging products and services, announced that it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB).

Sonoco announced it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning May 30, 2022.

Sonoco will raise the price for all paperboard tubes and cores by a minimum of 6%, effective with shipments in the United States and Canada on or after June 10, 2022.

UPM Biochemicals and KRAHN Chemie Deutschland GmbH signed an exclusive distribution agreement to market UPM BioMotionTM Renewable Functional Fillers (RFF) in Germany, Austria and Switzerland. RFF are a completely new category of functional fillers, replacing fossil-based carbon black and precipitated silica. The distribution agreement covers UPM BioMotion™ X10, X20 and X40 product grades to be used in plastics, adhesives and sealants as well as paints and coatings.

Weyerhaeuser Company announced a new partnership with Firefighter Behavioral Health Alliance, Fighting Fires Together, that will provide support and resources for wildland firefighters and their families, as well as increase awareness of the importance of mental health assistance for these first responders.

Montgomery "Monte" Crompton was blasted with 200-degree steam for nearly a minute on his face, upper torso, legs and back while working to repair a hole in a blowdown header in the mill's powerhouse Jan. 16, 2019, according to a complaint filed in June 2020.

Weyerhaeuser will pay $600,000 after reaching a settlement with Columbia Riverkeeper, despite denying allegations it had broken state water quality laws.

Soon after the company was sold to a new owner, Appvion announced the purchase of new equipment.

Mondi, a global leader in sustainable packaging and paper, continues to make progress on its previously announced €125 million investment to expand and upgrade its Kuopio mill in Finland with expected start-up by the fourth quarter of 2023.

Finland-based Huhtamaki North America says it will invest $100 million to expand its facility in Hammond. The packaging manufacturer says the 250,000-square-foot addition will result in about 100 new jobs when its operational in 2023.

Iconex, the world's leading provider of highly differentiated label solutions and low-cost paper receipts, announced the acquisition of Liberty Greenleaf. Founded over three decades ago, Liberty Greenleaf is one of the premier manufacturers of point-of-sale (POS) and industrial packaging solutions, with operations in Phoenix, Arizona and Morristown, Tennessee.

This acquisition was made for investment purposes and builds upon, and is complementary to, Interfor's recent expansion into Eastern Canada through the acquisition of EACOM Timber Corporation in February 2022.

A date for auctioning the former Luke paper mill's assets has been set by Capital Recovery Group, the property's owner.

Ox Industries acquires a 150,000 square foot facility in Hanover, PA to expand its converting capacity in the Mid-Atlantic Region. The facility will house next-generation equipment and manufacturing practices and expand just in time stocking products and services.

The Paper Excellence Group, a global diversified manufacturer of pulp and specialty, printing, writing, and packaging papers, announced its subsidiary, Domtar Inc., has entered into an agreement with an affiliate of Kruger Specialty Papers Holding L.P. to sell its Kamloops pulp mill for an undisclosed amount.

Rayonier Advanced Materials Inc. announced that it has sold 28,684,433 common shares of GreenFirst Forest Products Inc. to a wholly-owned subsidiary of Interfor Corporation for approximately $43.3 million. The agreement contains a Purchase Price Protection clause whereby the Company is entitled to participate in further stock price appreciation under certain circumstances and for a specified period.

Atlas Packaging, based in Barnstaple, North Devon, is a corrugated packaging provider with a strong market presence in shelf ready packaging, gift boxing and the e-commerce sector.

Stora Enso invests in ACDF Industrie SAS and becomes a 35% shareholder of the French wood processing company. The investment is in line with Stora Enso's growth strategy for mass timber building elements, enabling value-added, bespoke CLT (cross-laminated timber) solutions to its long-term French partners.

UFP Industries announced that its affiliate, Deckorators, Inc., acquired Cedar Poly LLC, for $17 million. The purchase price includes incentive payments of up to $1.5 million over three years if Cedar Poly meets certain performance goals.

UPM had permanently ceased production and agreed a social plan for its employees at its Chapelle mill in Grand-Couronne, France already in June 2020.

Veritiv Corporation, a full-service provider of business-to-business products, services, and solutions, announced that it has completed the sale of its Veritiv Canada, Inc. business to Imperial Dade. Effective today, Veritiv's approximately 900 employees in Canada are now employees of Imperial Dade.

Ten years after the catastrophic explosion and fire at the Verso Paper Mill in Sartell, it will soon be a day for public reminiscence.

The evaluation of options is expected to be completed by the end of 2022.

British paper and packaging firm Mondi Plc said on Wednesday it would sell its Russian assets, the latest company to exit the country following Moscow's invasion of Ukraine.

Chatham Asset Management, LLC, a private investment firm which manages funds that beneficially own approximately 6.3% of the outstanding common stock of Rayonier Advanced Materials ("RYAM" or the "Company") (NYSE: RYAM) and is a substantial bondholder of the Company, issued an open letter to RYAM shareholders reaffirming its intention to withhold its vote against two long-tenured members of the Company's Board of Directors, Thomas I. Morgan and Lisa M. Palumbo, at the Company's annual meeting of shareholders on May 16, 2022.

The Huhtamaki Foundation inaugurated its first recycling plant in Khopoli, Maharashtra to help drive circularity for packaging. The site - which is spread across 2,000 square meters - will recycle about 1,600 kilograms of post-consumer used flexible plastic waste per day from early May as the plant becomes fully operational. The Central Pollution Board of India (2012) estimates that India generates close to 26,000 tonnes of plastic waste a day and a little over 10,000 tonnes a day of plastic waste remains uncollected.

Mondi, a global leader in sustainable packaging and paper, has switched its entire portfolio of glassine-based release liners to certified base paper. The change is part of Mondi's ongoing, proactive approach to sustainability, which includes developing solutions that are better for the environment.

As part of its long-term global commitment to climate protection and sustainable production, Sappi will be abandoning the use of coal at its German site in Stockstadt as a next step. To this end, the current coal-fired Boiler 9 will be decommissioned, and the mill will be operated using only renewable biomass and natural gas.

WestRock Company, a leading provider of sustainable paper and packaging solutions, announced the publication of WestRock's 2021 Sustainability Report, detailing the comprehensive efforts the company is making for, and with, customers to imagine and deliver on the promise of a sustainable future. The report reveals validation of WestRock's greenhouse gas (GHG) emissions reduction target by the Science Based Targets Initiative (SBTi) alongside its refreshed sustainability goals.

Howe Sound Pulp & Paper (HSPP) Mill was evacuated for about two hours on the morning of May 12.

A "small fire" at Interfor's lumber mill in DeQuincy was quickly brought under control, mill officials said.

Fire crews responded early Friday morning, May 13, to a fire at the WestRock facility in Camillus.

Paper Excellence provided an update on skilled labor shortages in British Columbia that are impacting the company's ability to execute many of its planned shutdowns on time.

Pregis, a leading global manufacturer of protective packaging, recently started production at its new 298,000 square foot manufacturing facility in Reno, Nevada. The facility is producing the Pregis EverTec™ cushioned mailer, a durable, lightweight, curbside recyclable, paper cushioned shipping solution.

Paper Excellence announced that it is nearing completion of a significant project to winterize the pulp mill at Prince Albert Pulp Inc (PAPI). Winterizing the mill means that the interior of the mill is now heated for the first time since 2014, when the site last operated. The project will cost approximately $500,000.