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In this issue of Disconnected Comparisons, we evaluate Sappi and Ennis, Inc.

The PM40 closed Friday, 12 May 2023, at 4848.

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 12 May 2023 up 5.4% from the 13 May 2022 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 Hannu Viljami Paulapuro, who was inducted into the Hall of Fame in 2012.

Tattoos are OK...

KSH is a Canadian consulting, engineering, and project delivery services company with extensive experience in capital intensive industries such as the pulp & paper, chemicals and biorefining, as well as in energy, water and environment sectors. KSH provides services globally from its units in Canada.

Valmet has been chosen as the second most attractive employer by engineering students in Finland. The ranking was published in Universum's annual Talent Research, which is the biggest employer survey in Finland.

Valmet has decided to further strengthen its press felt production capabilities in Tampere, Finland, by investing in a new weaving machine and a new heat-setting machine in addition to the ongoing press felt investment announced in August 2022.

Valmet will supply a rebuild for ITC Limited's board machine PM 1A at their Bhadrachalam mill in Telangana, India. The start-up is scheduled for the second quarter 2024.

Ahlstrom ECO™, a new range of renewable and sustainable filtration solutions for automotive applications, was selected as the New Product of the Year by the America Filtration Society (AFS) on May 2, 2023. The Product of the Year award is given to a company introducing the most significant new product in the previous year.

In a recent supplier award ceremony, Ahlstrom was recognized specifically for their packaging contributions to the Taco Bell® brand.

Amcor, a global leader in developing and producing responsible packaging solutions, announced it has launched an Amcor Lift-Off session dedicated to Michigan State University (MSU) with the support of the MSU Research Foundation and its network. The program offers an opportunity for early-stage start-ups from MSU and its wider network to win up to $250,000 in seed funding.

Sappi's Volume 7 of The Standard explores the growing importance of haptics and sensory packaging in heightening brand experience and driving sales.

New corporate brand and logo set the next stage in reinventing the company to shape the future of packaging.

Fighting Fires Together campaign provides expert resources and support to those on the front lines of wildfires.

Destocking in the various product value chains has continued to hold back delivery volumes in most UPM's businesses, resulting in slower recovery of volumes than earlier expected. In addition, chemical pulp prices have fallen faster than expected, towards estimated bottom-of-the-cycle price levels. Finally, as indicated earlier, UPM has high maintenance activity during Q2 2023.

Suzano SA, the biggest producer of hardwood pulp, is considering selling its products to China priced in yuan, adding to signs that the dollar is losing its dominance in commodity markets.

Plans to investigate Paper Excellence's ownership structure and business ties now face delays at the federal and provincial level.

A federal court in California dismissed a seven-year lawsuit brought by Resolute Forest Products against a number of Greenpeace staff members and entities, including Greenpeace International and Greenpeace USA. The Canadian logging company sued the Greenpeace defendants for CA $100 million in an attempt to silence and bankrupt them, after criticism of its unsustainable forestry practices.

The plaintiffs were granted a temporary restraining order against Great Lakes Tissue, which stopped them from moving, using, hiding or damaging more than 60 pieces of leased equipment that were critical in the facility's work.

Hood Industries, Inc. announced its plans to build a new, laminated plywood panel manufacturing facility in Beaumont, Mississippi.

International Paper's Cedar River Mill, the largest 100-percent recycled paper mill in the Americas -- broke ground Monday on its expansion project to generate an alternate steam supply and transition off coal-powered steam.

Mondi, a global leader in sustainable packaging and paper, is upgrading its Dynäs pulp and paper mill in Sweden. The modernisation programme will increase efficiency and further improve the overall environmental performance of the mill, positioning it well to continue meeting customer demand for sustainable paper and paper-based packaging solutions.

Investment has created one of the most high-tech packaging plants in Europe.

Will provide Amcor with fully integrated, production-ready fresh protein packaging solution.

Dura-Fibre acquired Greif Chicago Converting and will move its manufacturing operations to Menasha, the company announced last week.

Unifor is concerned about the mill's wood supply, being 'carved away' when it it is sold to another operator.

This acquisition represents a significant step forward on the German consumer brands market and also allows Sofidel to enter a new category, moist toilet tissue.

Arctic Paper S.A. announces that the group's CFO Göran Eklund will retire at the end of June 2023 and will be replaced, with effect as of May 29, by Katarzyna Wojtkowiak, who is currently Chief Accountant.

Boise Cascade's Building Materials Distribution (BMD) division announced it has finalized the purchase of a five-acre site in Birmingham, AL.

Conifex Timber Inc. announced that Andrew McLellan has been promoted to President and Chief Operating Officer.

In a first-quarter earnings report released Tuesday, Graphic Packaging International said it will close its recycled paperboard mill in Tama in the second quarter of 2023. A filing with Iowa Workforce Development shows the company will lay off 85 workers, effective June 2.

Packaging Corporation of America has notified its Wallula mill employees the mill will be idled and won't resume operations until later this year.

Cascades is also announcing the permanent shutdown of paper machine number 2 at its Niagara Falls, New York mill, which had been temporarily shut down since November 2022.

Sylvamo, the world's paper company, is announcing senior leadership changes effective July 1.

WestRock Company announced it will permanently cease operating its paper mill in North Charleston, South Carolina, on August 31, 2023.

Clearwater Paper Corporation announced that the Science Based Target initiative (SBTi) has validated the company's climate targets. These targets include reducing absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 29.1 percent and absolute Scope 3 GHG emissions by 25 percent by 2030.

International Paper announced progress on its Vision 2030 sustainability targets.

The framework is based on Stora Enso's sustainability agenda and goals, driving the transformation towards a circular bioeconomy. The combined Green and Sustainability-Linked Financing Framework allows Stora Enso to issue both green and sustainability-linked financing instruments, as well as a combination of the two.

Despite the challenging macroeconomic environment in 2022, marked by inflationary pressure and high interest rates, Suzano achieved solid financial results and made important progress regarding its strategic agenda, increasing its ability to generate and share value with stakeholders.

There have been 115 cases of blastomycosis so far, the department said last week, resulting in 14 people -- workers, contractors or mill visitors -- being admitted to the hospital. One person has died.

A conveyor belt and chip pile caught on fire.

According to the Memphis Fire Department (MFD), a second-alarm fire was reported at Kruger, or KTG Memphis on Mahannah Avenue. The facility produces toilet and other bathroom necessities.

Ingevity Corporation announced that operations at the company's North Charleston, South Carolina, plant will continue as normal with the announced closure of WestRock Company's North Charleston, South Carolina, paper mill.

Dozens of firefighters responded to a hazmat incident Wednesday afternoon at Inland Empire Paper Co. in Millwood as reports came in that the incident had turned into a fire.

The company also partnered with Kruger Inc. last year to build an enclosed electric conveyor system to move wood chips from the facility to Kruger's chip yard, located directly across the street.