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The PM40 closed Friday, 13 October 2023, at 4861.

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 Rayonier and Amcor.

The PM40 closed 3 November 2023 up 0.2% from the 4 November 2022 level.

Reported insider trading since the last issue of PaperMoney.

Covid taught us that world-wide, smooth procurement had its perturbations. I never saw the phrase, "Force Majeure," except in contracts and textbooks, before 2021. Now it has become, no pun intended, lingua franca, especially on construction projects. Yet, it goes deeper than that.

Start-up is scheduled for the second half of 2024.

The closing is expected to take place in Q1 2024.

ABB chosen because of deep domain expertise in China's pulp and paper industry and ten years of trusted partnership with Asia Symbol.

Green Bay Packaging has achieved significant improvements on its production line with the implementation of Voith's OnQuality Quality Control System (QCS).

Pesmel has delivered a fully automated high-bay warehouse for De Jong Packaging Group, part of Stora Enso's Packaging Solutions division. The expansion adds a new, second factory to the De Lier site equipping the facility with two new corrugators to augment the existing two. As a result of the expansion, the site is now the largest and most modern corrugated packaging facility in Europe.

Andritz has received an order from the pulp and paper producer The Navigator Company to supply a new recovery boiler, new ash leaching system and an upgrade of the non-condensable gases (NCG) collection and incineration system for its pulp mill in Setúbal, Portugal.

Toscotec started up a packaging paper machine at Cartiera Pirinoli after the complete rebuild of the press section at their Roccavione facility in Italy.

Valmet has received a major order from Liansheng Pulp & Paper (Zhangzhou) in Fujian Province in China covering multiple technology deliveries for the customer's Zhangpu site.

Within a month, Sun Paper has started up two packaging paper machines ahead of schedule this is the fourth follow-up order of this kind between Voith and Sun Paper.

The start-up of the new facility is scheduled for early 2025.

Leading global provider of sustainable fiber-based packaging, DS Smith, has collaborated with Versuni, home to some of the world's most renowned domestic appliance brands, to produce and deliver 100% recycled and recyclable packaging solutions.

The overall winner in the award's third year addresses the importance of equipment and process reliability.

Glatfelter Corporation announced that Glatfelter Industries Asheville Inc. was the recipient of the prestigious RRITE Supplier Award presented by Rockline Industries at their annual State of Rockline event held at The Gage in West Allis, Wisconsin on October 4, 2023.

Nonwovens Industry recently named Kimberly-Clark as a Top 40 Nonwovens Industry Company in recognition of the role nonwovens continue to play as a key driver of innovation and growth for both our business and brands.

This year, the Saica Group has improved its score, demonstrating the company's commitment to sustainability standards.

Sappi North America, Inc., a leading producer and supplier of diversified paper, packaging products and pulp, announces it has won two awards for its innovative recruitment efforts and strategy. Sappi's Somerset Mill video won Silver in the Branded Content-Recruitment category of the 2023 W3 Awards, and its Choose Your Path Series earned Silver in the NYX Video Awards' Series or Campaign: Recruitment category.

The original Standard was published in 1924 and later resurfaced by renowned designer and entrepreneur, Cheryl Heller, from 1994-1998. Today, and for more than a decade, Sappi and Kit Hinrichs, principal of Studio Hinrichs, continue the century-long legacy of the series.

Sofidel, a global household products company ranked first over 103 companies in its industry by Morningstar Sustainalytics for its commitment to the preservation of biodiversity, anti-corruption strategies and transparency.

Consumers are now actively considering the environment alongside their individual health when buying food, according to Tetra Pak's Index 2023. These environmentally conscious consumers labelled 'Climatarians' are willing to alter their eating habits to protect the planet.

UPM Specialty Papers, Lantmännen Unibake and Adara have co-created a new fibre-based packaging that replaces plastic bags as primary packaging for frozen baked goods. To minimize the use of fossil-based materials, the companies joined forces to create a solution where the plastic bags were eliminated by using UPM Asendo™ barrier paper as an inner liner in the corrugated cardboard box; the barrier paper layer ensures food safety and freshness.

Smurfit Kappa recently published its second annual Green Bond Allocation and Impact Report which provides details on the use of proceeds of its inaugural €1 billion dual-tranche Green Bond issued in September 2021.

Atlantic Packaging has partnered with TOM FORD and Lonely Whale to accelerate the adoption of seaweed-based plastic alternatives.

UPM Specialty Papers and adhesive tape specialist Lohmann have partnered to promote recycling of paper liners in the tape industry.

Boise Cascade's Building Materials Distribution (BMD) division has completed the purchase of a new 120,000 sq. ft. warehouse and distribution facility in West Palm Beach, Florida.

Ilim Group presented to Chinese partners its new pulp and paperboard mill (the KLB Mill) in Ust-Ilimsk, Russia. The Mill's output will reach 600 thousand tons of kraftliner per year. Thereby, Ilim's aggregate exports to China will surge to 2.4 million tons per year.

According to reports, most of the money will go toward new machinery and equipment for the facility.

Massive investment in corrugated board-processing machinery is expected to ensure growth and quality.

The total investment of R$1.66 billion, announced during the disclosure of the 3Q23 results, is aligned with Suzano's strategic business avenues and underscores its commitment to constantly adapt its operations to evolving demand in Brazil and the global markets.

Ennis, Inc., is pleased to announce its acquisition of Eagle Graphics, Inc. from Annville, PA and Diamond Graphics, Inc. from Bensalem, PA.

Greif, Inc. announced that it has entered into exclusive negotiations to acquire I PACKCHEM Group SAS, a global leader in premium barrier and non-barrier jerrycans and small plastic containers, from an affiliate of SK Capital Partners, in a cash transaction valued at $538 million.

Greif, Inc. announced that it has entered into exclusive negotiations to acquire I PACKCHEM Group SAS, a global leader in premium barrier and non-barrier jerrycans and small plastic containers, from an affiliate of SK Capital Partners, in a cash transaction valued at $538 million.

A move by RGE could add a new dimension to the bidding for Essity AB's 52% stake in Vinda, which has drawn bidders such as Suzano SA, the world's largest producer of hardwood pulp from Brazil. Buyout firms Bain Capital, CVC Capital Partners and DCP Capital also advanced in the process, it was reported in August.

Rayonier Advanced Materials Inc. announced that it has engaged Houlihan Lokey as its financial advisor to explore the potential sale of its paperboard and high-yield pulp assets located at its Temiscaming site.

Rengo Co., Ltd. announces that its consolidated subsidiary, Tri-Wall Limited, has acquired a 100% stake in Gestora Comercial Internacional，S.L.U. (Gecoinsa), through Tri-Wall's wholly owned subsidiary.

Veritiv Corporation, a leading full-service provider of business-to-business products, services and solutions, held a special meeting of stockholders at which Veritiv stockholders voted in favor of all proposals, including a proposal to approve the Company's pending acquisition by an affiliate of Clayton, Dubilier & Rice, (CD&R).

The Engineered Wood Association's (APA) has elected a new chair, vice chair, finance committee chair and two new members.

Boise Cascade Company announced the promotion of four of its business leaders.

The Board of Directors appointed Aleksey Lomko as CEO of JSC Ilim Group effective from October 30, 2023.

His nearly 40-year career included progressively senior roles at Boeing, Eaton, and Lockheed Martin, as well as President, CEO and board member of Tapestry Solutions, a Boeing subsidiary.

IP announces plans to permanently close its Orange mill and to permanently cease production on pulp machines in Riegelwood and Pensacola.

The Nomination Committee of Essity Aktiebolag (publ) proposes that Jan Gurander be appointed Chairman and member of Essity's Board of Directors at the Annual General Meeting in March 2024. As previously announced, Essity's current Chairman of the Board, Pär Boman, has declined re-election.

Massimo Reynaudo has been appointed President and CEO of UPM-Kymmene Corporation as of 1 January 2024. Jussi Pesonen will continue as the President and CEO until 31 December 2023, after which he will work as an advisor to the Company and its management until he will retire from UPM on 30 April, 2024.

Metsä Board, part of Metsä Group, will initiate change negotiations on possible temporary layoffs for its paperboard and BCTMP mills in Finland. The negotiations involve a total of approximately 1,100 employees at the Joutseno, Kaskinen, Kemi, Kyro, Tampere, Simpele and Äänekoski mills.

Metsä Group is conducting a pre-study related to the construction of a first commercial mill for producing Muoto packaging products on its Rauma mill site, Finland. The goal is to determine the mill's technical feasibility and economic profitability.

Mark McHugh named President and CEO, effective April 1, 2024.

SEE announced that its Board of Directors and Ted Doheny have mutually agreed to transition SEE's leadership. Mr. Doheny has stepped down as President and Chief Executive Officer and as a member of the Board, effective immediately. He will continue to serve SEE in an advisory capacity to assist in the transition. Effective immediately, Emile Chammas, Chief Operating Officer, and Dustin Semach, Chief Financial Officer, are appointed Interim Co-Presidents and Co-CEOs, in addition to their current roles.

The actual demolition will start in early 2024 and the project will run until 2025.

Targeting $1 billion of select asset sales over the next 18 months.

New developments in innovation

The agreement alleges that Evergreen failed to control hazardous air pollutants at its facility, did not meet fuel specifications for boilers and failed to close washer windows/hoods during operation. Evergreen Packaging must pay a civil penalty of $256,973, according to the release.

The hygiene and health company Essity has inaugurated the world's first production line for professional hygiene tissue products where the raw material consists of used food and milk packaging. The facility recycles 25,000 tons per year, equivalent to 60% of all collected, sorted and recycled food and beverage cartons in France.

Water is essential in the pulp and paper industry, which is why at Lecta we prioritize the efficient use of this valuable natural resource. Our mills have a high rate of water recycling, and the amount discharged is almost equal to the intake.

Monadnock Paper Mills, Inc., the oldest continuously operating paper mill in the United States, announces the launch of its 2022 Corporate Social Responsibility (CSR) Report, which details its commitment to sustainability and visions for the future. Monadnock Paper Mills continues to champion sustainability in the world of fiber-based solutions, setting its sights on a brighter, more eco-friendly future.

Certification reaffirms the Group's MAP2030 commitment to make all its packaging and paper products recyclable, reusable or compostable by 2025.

Resolute Forest Products Inc., in collaboration with Performance BioFilaments, has taken another step toward developing a viable market for cellulose filaments (CF), an innovative wood-based biomaterial, by conducting field tests in Quebec sidewalks.

Developed by the Sustainable Apparel Coalition (SAC), the Higg FEM is part of a suite of tools that enables manufacturing facilities of all sizes to measure and score their environmental performance against a standard set of criteria, allowing for meaningful and credible performance benchmarking in the apparel and textile sector.

Södra's new cold storage for plants was inaugurated by chairman of the board Magnus Hall. Frysen, located in Falkenberg, is Södra's first and has room to handle 40 million forest plants.

SCA is increasing its degree of self-sufficiency in electricity for its own industry by acquiring Fasikan Vind AB, a wind power project located on SCA's land in the Bräcke municipality of Jämtland County. The seller is Arise AB.

Stora Enso has launched a new operating model at its logging sites in Finland to improve the vitality and biodiversity of forests. In practice, this is done by reducing the density of planted spruce from 1,800 seedlings per hectare to 1,600 seedlings per hectare. This will increase mixed-species forests, which is one of the overarching objectives of Stora Enso's biodiversity programme and part of the actions both in Finland and Sweden.

UPM supports the third and final phase of the Hiitolanjoki river restoration project in South Karelia, where the dam of the Ritakoski hydropower plant was demolished and the rapid restored. The restoration will allow Ladoga's landlocked salmon to rise to its old spawning waters and improves the status of the aquatic habitat of the river.

An environmental group has accused Weyerhaeuser of violating the Clean Water Act by discharging wastewater and stormwater containing pollutants from its lumber mill near Raymond, Wash.

Arauco, a forestry company linked to the Angelini Group, reported this Tuesday morning Oct. 18 the layoff of about 300 workers nationwide.

Arauco announced leadership changes for the North American market. Russ Jordan has been named President of Arauco North America, reporting to Pablo Franzini, the President of Arauco's Global Wood Business.

Stora Enso appoints Ad Smit as Executive Vice President of the Packaging Solutions division and a member of the Group Leadership Team. He will start on 1 December 2023 and report to Hans Sohlström, President and CEO of Stora Enso.

There were no injuries in the fire and a damage estimate is not available.

Flames broke out at a Pactiv Evergreen facility in Hazle Township just after midnight early Wednesday morning, Oct. 18.

There was no report of any injuries, and no information on damages.

The Putnam County Fire Rescue reported a fire at the Georgia Pacific Paper Mill in Palatka Wednesday night, Oct. 25.

Atlanta-based Hood Container is cutting 88 jobs at its Matthews facility, according to a Worker Adjustment and Retraining Notification Act (WARN) filed recently with the North Carolina Department of Commerce. The layoffs are effective Dec. 19.

The paper mill in Crofton will not resume operations until the end of November at the earliest, meaning 70 workers will not be back on the job until December.

Quad announced that it will cease operations at its Effingham print manufacturing location by the end of 2023.

Sofidel has opened an automated warehouse at its plant in Ciechanów, Poland. The new 11,000 m2 warehouse can handle 32,000 pallets of goods and is designed to ensure higher efficiency and safety standards.

Tomi Sederholm has been appointed as Senior Vice President, UPM Business Control and Finance Operations as of 1 December 2023.

The three unions representing workers at Woodland Pulp in Baileyville say that the mill has hired about two dozen temporary workers to cross the picket line and replace those on strike.

The number of UPM employees affected is 401. Graphic paper production on the two machines is expected to end on 15 November (PM 11) and on 22 November (PM 1), reducing the coated and uncoated publication paper capacity by 595,000 tonnes in Europe.