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The PM40 closed Friday, 16 December 2022, at 5143.

Get the latest PM40 updates by listening to the weekly Nips show and the PM40 Daily Show on Pulp & Paper Radio International.

In this issue of Disconnected Comparisons, we evaluate Kimberly-Clark and UPM Kymmene.

The PM40 closed 16 December 2022 up 12.9% from the 17 December 2021 level.

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, more than 150 papermaking innovators and legends have been enshrined. This month, we profile Luigi Lazzareschi, who was inducted into the Hall of Fame in 2018.

Andritz has received an order from Xianhe Co., Ltd., in Hubei Province, China, for the supply of VIB moisturizing technology for two new paper machines.

C-Green has been selected by CMPC, one of the world's largest pulp and paper companies, and Foresight Canada, Canada's cleantech accelerator, as winner of the Pulp Mill Sludge Efficiency Challenge, a competition seeking innovative solutions to handling wastewater sludge.

Valmet launces two new scanner models, Valmet IQ Scanner XL and Valmet IQ Scanner S. Both are designed for optimal production efficiency and superior performance in paper, board, nonwoven, and paper converting industries.

Valmet and Opal have agreed to extend the Mill Maintenance Operations Agreement and thus continue the long-term co-operation for mill maintenance services at Opal's B9 board making line in Sydney, New South Wales, Australia.

The installation is scheduled to start in May 2023.

The installation will take place in the summer 2023.

CDP's evaluation is based on the company's disclosure about its strategy, targets, governance, risks and opportunities, risk management and actions in the last reporting year related to climate change mitigation and development of low-carbon technology and solutions.

UPM has been recognized with a triple 'A' score for its performance and transparent reporting on climate change, forests and water security by the global environmental non-profit CDP. Out of nearly 15,000 companies scored, UPM is one of only 12 companies that achieved the triple 'A'.

Foundry's Computerworld has announced International Paper as a 2023 Best Places to Work in IT, ranking 29 out of 100. This award recognizes the top organizations that challenge their IT staffs while providing great benefits and compensation. Organizations will be included in coverage on Computerworld.com along with results from the 2023 Best Places to Work in IT survey.

UPM has been listed in the Dow Jones European and World Sustainability Indices (DJSI) for 2022-2023 as the only company in its industry. The DJSI indices cover environmental, social and governance aspects of responsibility.

The hygiene and health company Essity has once again been recognized for its leadership in sustainability by the global non-profit environmental organization CDP. The company is awarded a place on CDP's prestigious A List for its work in combating deforestation.

The Lenzing Group, the world's leading supplier of sustainably produced specialty fibers, has been recognized for leadership in corporate transparency and performance on climate change, forests and water security by global environmental non-profit CDP, securing a place on its annual "A List".

The LP Foundation's philanthropic focus aligns closely with LP's vision, values, and purpose of Building a Better World™. Donations are directed at nonprofits and public schools within the following categories: housing, environment, science, technology, engineering and math (STEM) education, and diversity, equity and inclusion (DEI).

Mondi, a global leader in sustainable packaging and paper, has worked with FRESH!PACKING, to design an innovative cooler bag, to protect and transport chilled or frozen goods home by consumers.

Mondi, a global leader in sustainable packaging and paper, has supported Angulas Aguinaga® on its journey to switch to a recyclable paper-based packaging for its Krissia® brand chilled surimi sticks, greatly reducing the amount of plastic being used.

Pregis®, a leading global manufacturer of flexible packaging and protective packaging solutions, recently added digital printing capabilities at production facilities across North America, offering customers high-impact protection and impactful brand messaging with the Pregis EverTec™ curbside recyclable padded mailer.

Rayonier Inc. has been recognized for accelerating the advancement of gender diversity in the boardroom by Women Executive Leadership (WEL), a nonprofit organization that advocates, educates and connects accomplished executive women. The Elevate Award salutes public companies that have added female board members since WEL's 2017 Census. Rayonier added its first female director to its board in 1994. Currently three female directors serve on its 10-member board, two of whom have joined since 2020.

Södra's research foundation is now distributing seven million kroner to nine research projects to promote the development of family forestry. A number of the projects focus on how forestry is affected by an increasingly warmer climate in Sweden.

Sofidel Group has achieved the top ranking in its category in Sustainalytics' annual index of overall risk management capacity.

For the second year in a row, Sonoco earns a Gold Medal rating from EcoVadis, a leading environmental, social and ethical review agency for global supply chains. This result placed Sonoco among the top 5% of more than 100,000 organizations reviewed worldwide.

Sustana's engagement in the UN Global Compact -- a voluntary leadership platform for the development, implementation, and disclosure of responsible business practices - reflects its longstanding and continued adherence to sustainable practices and its ongoing support for the Ten Principles focused on human rights, labor, environment, and anti-corruption.

WestRock Company, a leading provider of sustainable paper and packaging solutions, announced it has been named to the Dow Jones Sustainability North America Index (DSJI North America) for the third consecutive year, in recognition of its commitment to sustainable business practices.

The Lenzing Group, the world's leading supplier of sustainably produced specialty fibers, and Renewcell, the Swedish textile-to-textile recycling pioneer, have signed a multi-year supply agreement to accelerate the transition of the textile industry from a linear to a circular business model. The agreement contains the sale of 80,000 to 100,000 tonnes of Renewcell's 100 per cent recycled textile Circulose® dissolving pulp to Lenzing over a five-year period, for use in the production of cellulosic fibers for fashion and other textile applications.

The Cup Collective, a programme founded by Stora Enso and Huhtamaki to capture the value of used paper cups through recycling at an industrial scale, has welcomed its first partners. The new partners include McDonald's, SSP - The Food Travel Experts, C2 Centre, and the National Railway Company of Belgium (SNCB), all further supporting the initiative's ability to significantly increase paper cup recycling volumes in Europe.

A B.C. Supreme Court judge has upheld more than $343,000 in cost-recovery fines that were handed to a forestry company for starting a wildfire in 2016.

Roseburg Forest Products announced that it has agreed in principle with four law firms representing the majority of claims to settle the families' property losses, personal injuries and wrongful death claims arising from the Sept. 2 Mill Fire.

Billerud, a Swedish paper and pulp manufacturer, is eyeing the Escanaba Mill to upgrade from producing paper to making an advanced paper product known as paperboard or cartonboard.

Felix Schoeller Group plans to invest more than $100 million in expanding its capacity in North America by 2025. Starting in 2023, capacities at the company's sites in the USA and Canada will be significantly expanded in three steps.

Georgia-Pacific is set to invest over hundreds of millions of dollars.

PT. Riau Andalan Pulp and Paper ("PT. RAPP"), the operating arm of the leading sustainable fibre and product producer Asia Pacific Resources International Limited ("APRIL"), a member of the Singapore-headquartered Royal Golden Eagle (RGE) group of companies founded by Sukanto Tanoto, has received an award for the largest foreign investment in the Riau Province in Indonesia, for the January to September period in 2022.

A new recycled paper mill will be established in Khalifa Economic Zones Abu Dhabi (KEZAD) in a move to support the UAE circular economy.

Stora Enso is investing Euro 38 million in unbleached kraft pulp (UKP) production at its Enocell site in Finland and Euro 42 million in fluff pulp production improvement at its Skutskär site in Sweden. These investments will support the growing consumer demand for non-bleached renewable packaging materials and hygiene products respectively.

Greif, Inc., a global leader in industrial packaging products and services, announced that it has completed its previously announced acquisition of Lee Container Corporation, Inc.

Mondi said there was no certainty as to when the deal would be completed given the political and regulatory backdrop.

Prinzhorn Group, having a strategic long term interest in Italy, has made a proposal to acquire corrugated packaging plant Scatolificio La Veggia S.p.A. ("SLV"), Roteglia, which is part of the La Veggia Group of companies in the course of a restructuring process under Italian law.

Stora Enso has initiated a sales process for a possible divestment of its consumer board production site in Beihai, China.

Twin Rivers Paper Company has reached a definitive agreement to sell its softwood lumber mill in Plaster Rock, New Brunswick, to eastern Canadian lumber manufacturer and North American forest products leader Groupe Lebel.

UFP Industries announced that its affiliate, UFP Packaging, LLC, has acquired Titan Corrugated, Inc., a manufacturer of corrugated packaging products, and its affiliate All Boxed Up, LLC, a corrugated box distributor. The combined companies had trailing 12-month sales through October 2022 of approximately $46.5 million.

UPM has agreed to sell the Renforsin Ranta business park in Kajaani to Kansallisholding Oy. The site will be operated by Redeve Oy, the parent company of Kansallisholding, specialising in the ownership and development of industrial real estate.

Helen Mets is appointed President and CEO of Ahlstrom, effective January 1, 2023. With the company entering the next phase of growth and transformation, Helen will succeed current President and CEO Hans Sohlström, who has contributed greatly to Ahlstrom's success since 2016. Hans will leave Ahlstrom at the end of December to pursue new opportunities outside the company.

Appvion, a Wynnchurch Capital, L.P. portfolio company, announced today that Paul Charapata, former President and CEO of recently acquired Nekoosa Coated Products, LLC, has been named CEO of the Appvion platform. The current CEO, Laurie Andriate, will transition to the Board of Directors.

Boise Cascade's Building Materials Distribution (BMD) division announced the expansion of its distribution capacity in two markets.

Sappi Europe's Gratkorn mill in Austria is Europe's leading producer of coated woodfree paper on two paper machines, supporting Sappi Europe's market leadership and in particular its core Commercial Print business. The mill has benefited from a regular investment programme, including in recent years the upgrade of the PM9 in 2019.

Sylvamo, known as the world's paper company, showed off its new worldwide headquarters in East Memphis on Wednesday.

Veritiv Corporation announced that Stephen J. "Steve" Smith, the company's Senior Vice President and Chief Financial Officer (CFO), has informed the Veritiv Board of Directors that he intends to retire from the company in September 2023. Eric J. Guerin, a seasoned finance leader, will succeed Mr. Smith as Senior Vice President and CFO on March 1, 2023.

Amcor, a global leader in developing and producing responsible packaging solutions, has today announced a five-year deal with ExxonMobil to purchase certified-circular polyethylene material in support of its target to achieve 30% recycled material across its portfolio by 2030. The volume of material will increase incrementally each year, and is expected to reach 100,000 metric tons annually at the end of the five-year period.

The department contends Nippon went over discharge limits three times at the sanitary treatment plant in November 2020, according to a notice of penalty the ecology department sent to Nippon.

Paper Excellence is one of the industry leaders that joined the Action Declaration on Climate Policy Engagement in support of governments to address climate change. The initiative was developed by Corporate Knights and Global 100 Council COP27.

The company has 30 days to pay the fine, or to appeal the penalty to the Pollution Control Hearings Board.

Seven timber companies and four conservation organizations are joining together to fight the spread of chronic wasting disease (CWD) among deer, elk, and other species of the deer family (known as "cervids").

A Tacoma tideflats paper mill that specializes in packaging has been fined $52,500 by the state Department of Ecology (DOE) for failing to adequately treat hazardous air pollutants.

Layoffs are expected to begin March 31.

A firefighter was transported to Jefferson Healthcare for exhaustion-related symptoms from fighting a fire Tuesday morning, Dec. 13, at the Port Townsend Paper Mill.

Mondi, a global leader in sustainable packaging and paper, has started production at its €16 million greenfield plant in Morocco, which can produce 100 million paper bags each year.

Employees at the Woodland Pulp mill in Baileyville could strike by the end of the month.