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The PM40 closed Friday, 2 August 2024, at 5564.

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 2 August 2024 up 6.2% from the 4 August 2023 level.

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

Reported insider trading since the last issue of PaperMoney.

With the recent announcement of Sofidel's intent to acquire the tissue assets of Clearwater, I thought we should take a brief look at the foreign owners currently in the United States.

Andritz has received an order from C&S Paper to supply two PrimeLineCOMPACT tissue machines for its mill in Suqian City, Jiangsu Province, China.

Bellmer TurboJetter headbox has been successfully started up at Asia Paper Shiwa PM1 in Korea. The TurboJetter hydraulic headbox with its lamellas ensures top quality in paper and board production. The TurboJetter transforms fibers, fines and water into an excellent formation on the wire section of any paper machine.

BASF has signed an agreement with Solenis, a global producer of specialty chemicals headquartered in Wilmington, Delaware, to sell BASF's flocculants business for mining applications.

>Kemira announced an investment to expand the capacity of its sodium chlorate manufacturing facility in Ortigueira, Brazil.

Designed for blockage-free pumping of stock flows with a high proportion of contaminants.

Valmet and Körber have on August 1, 2024, to further strengthen the digital solution FactoryPal. FactoryPal is a unique software developed to improve shopfloor manufacturing performance and productivity.

The start-up is scheduled for the second quarter 2025.

Commissioning is scheduled for October 2025.

The International Council of Forest and Paper Associations (ICFPA) announced Ms. Heidi Brock, President and CEO of the American Forest & Paper Association (AF&PA), as its new President.

APRIL, one of the most technologically advanced pulp and paper producers in the world, has recently completed the latest round of recruitment for its "APRIL Sustainability Professional Readiness Programme" (ASPiRE), an accelerated on-the-job training initiative that empowers post-graduates to be future leaders in ESG and sustainability.

As a member of the Forum's Global Alliance for Women's Health, Essity assumes the role of leading partner in menstrual health and as such leads the Alliance's work to measure and close the gaps in this area.

An extensive range of facestock and release liners specially designed for the American markets.

Celebrating a decade with our company, Sophie Beckham is vice president and chief sustainability officer at International Paper, where she works across the enterprise to advance sustainability strategy development and the company's Vision 2030 goal implementation.

Sappi employees provide assistance to 27 charitable organizations.

Tetra Pak and Mengniu Group announce the launch of a limited edition Milk Deluxe Pure Milk range, customised with 30 different designs of masterpieces from Van Gogh and Monet. Packaged in Tetra Prisma® Aseptic 250 Edge cartons with DreamCap™ 26 closure, the special edition range has been brought to market through a collaboration with Meet You Museum. The cartons are now accessible to consumers across Greater China - online and in stores.

UFP Retail Solutions, a subsidiary of UFP Industries, is proud to announce two of its best and brightest were selected from among hundreds of women to be named to the2024 list of Top Women in Hardware and Building Supply published by HBS Dealer, a leading trade publication.

Canfor Corporation reported an operating loss of $250.8 million for the Q2 2024, compared to an operating loss of $85.8 million in the Q1 2024.

Graphic Packaging Holding Company's net income was $190 million, or $0.62 per share, based upon 306.9 million weighted average diluted shares.

International Paper reported Q2 2024 financial results. Net sales for the Q2 increased to $4.73 billion, compared to $4.68 billion in the Q2 2023.

In the Packaging segment, corrugated products shipments per day were up 9.2% over last year's Q2 and total shipments, with one additional shipping day, were up 10.9%.

Södra posted a stable result for the second quarter of 2024. Several important decisions were made during the quarter in line with Södra's strategy to increase the added value of its wood raw material and do more with each tree.

The Company recently completed a share capital reduction which has resulted in the creation of distributable reserves giving maximum flexibility to consider the payment of quarterly dividends and otherwise to return value to our shareholders, should the Board consider it appropriate.

Sonoco Products Company reported financial results for its Q2 ended June 30, 2024. Net sales decreased 5% to $1.6 billion primarily driven by the Protective Solutions ("Protexic") divestiture, the closure of a thermoformed food packaging plant, the treatment of recycling operations as a procurement function beginning January 1, 2024 and lower selling prices; overall volumes were positive and up low single digits including the impact of acquisitions.

UFP Industries, Inc. (UFPI) announced Q2 2024 results including net sales of $1.9 billion, net earnings attributable to controlling interest of $126 million, and earnings per diluted share of $2.05.

Kimberly-Clark says supplies are constrained and private-label brands are offering more promotions.

West Fraser Timber's Q2 2024 sales were $1.705 billion, compared to $1.627 billion in the Q1 2024. Q2 2024 earnings were $105 million, or $1.20 per diluted share, compared to $35 million, or $0.42 per diluted share in the Q1 2024. Q2 2024 Adjusted EBITDA was $272 million compared to $200 million in the Q1 2024.

Strategic Partnership: CMC Packaging Automation names Mondi as the preferred kraft paper partner for their packaging machines..

WorkSafeBC has fined Louisiana Pacific Canada Ltd. Dawson Creek OSB Division $316,061.

Pactiv Evergreen argued this week that it should not have to repay North Carolina the full $12 million in economic incentives it received for employing workers at its now-shuttered paper mill in Canton.

New support for a mass-timber production facility is protecting sustainable forestry jobs in Okanagan Falls, British Columbia (B.C.), Canada, and continuing to strengthen B.C.'s position as a leader in mass-timber innovation.

Stora Enso invests EUR 3O million to upgrade and grow its corrugated packaging production in Ostrołęka, Poland, where the company already has a solid foothold. Stora Enso's corrugated products are currently being used in many industry segments, such as food and beverage, electronics, furniture and e-commerce.

Cerrado Project required investment of around US$4.3 billion and will contribute to increase Suzano's production by more than 20%.

Berry Global Group, Inc. and Glatfelter Corporation announced that the proposed merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films ("HHNF") business with Glatfelter progressed further today with the creation of the Magnera brand (pronounced 'Mag-nair-uh'), a global leader in the specialty materials industry.

Canfor Corporation is pleased to announce the completion of the acquisition from Arkansas Resolute El Dorado Inc., of its lumber manufacturing facility in Union County, Arkansas. The transaction, previously announced on May 1, 2024, is a strategic complement to the Company's existing regional operations, including its adjacent El Dorado Laminating Plant and its nearby Urbana sawmill.

Clearwater Paper Corporation, a premier supplier of quality consumer tissue and bleached paperboard, today announced that it has entered into a definitive agreement to sell its tissue business to Sofidel America Corporation, a subsidiary of Sofidel S.p.A., a leading manufacturer of paper for hygienic and domestic use, for $1.06 billion, subject to adjustments for debt, cash, transaction expenses and net working capital.

One of the largest timberland transactions to date in Brazil, and the largest ever in the state of Mato Grosso do Sul.

Greif, Inc., a global leader in industrial packaging products and services, announced it has sold Delta Petroleum Company, Inc. ("Delta"), a North American filling and logistics services business, to PSC Group LLC, a North American leader in product handling, site logistics, railcar repair, and sustainability services for the petrochemical, refining, and marine industries.

Shibata Cardboard is a corrugated box manufacturer established in 1962, and has built a customer base rooted in the local community in Toyohashi-shi, Aichi Prefecture, Japan.

With a capacity production of 440.000 tonnes of paper and 535 million square meters of corrugated board packaging, Schumacher Packaging employs 1,540 people in Poland. The turnover of the Polish sites was 327 million euros in 2023 (aggregated sales).

The transaction includes an annual production capacity of 340,000 metric tons distributed across four production sites in Shelby, North Carolina, Lewiston, Idaho, Las Vegas, Nevada, and Elwood, Illinois. The completion of the acquisition is expected within 2024, subject to receipt of customary regulatory approvals and satisfaction of other customary closing conditions.

The transaction is valued at US$110 million and includes two mills in Pine Bluff, Arkansas, and Waynesville, North Carolina, that manufacture liquid packaging board and cupstock.

Brazil's Suzano, the world's largest pulpmaker, is looking to expand its paper footprint internationally while continuing to increase production at home, the company's chief financial officer said.

Bolt-on additions will further enhance Southern Timberlands portfolio and expand footprint in attractive markets.

Suzano announces that Beto Abreu has assumed the role of CEO. As Suzano celebrates its centennial year and finalises construction of the Cerrado Project, the world's largest single-line pulp production facility in Ribas do Rio Pardo, Mato Grosso do Sul state, Abreu will now be responsible for leading the company's ambitious growth strategy.

John Baird, Chairman of the Canfor Corporation Board of Directors, announced that Don Kayne, President and Chief Executive Officer, plans to retire at the end of the year.

DS Smith's Group Chief Executive has called for the new UK government to help make the UK a more attractive place to invest, and to align with EU regulation to support trade.

Mondi Group is pleased to announce the appointment of Sucheta Govil as an independent non-executive director of Mondi plc with effect from 1 October 2024.

Montana governor Greg Gianforte and the Montana Department of Labor & Industry (DLI) announced the state secured a nearly $2 million investment to provide workforce retraining and support services for workers impacted by the closures of Pyramid Lumber in Seeley Lake and Roseburg Forest Products in Missoula.

I'm writing this from a consumer perspective. Softness and absorbency matters.

Georgia-Pacific's Big Island containerboard facility in Virginia earned its first EPA ENERGY STAR® Certification for energy efficiency this year. The facility joins two other Georgia-Pacific facilities - Brewton containerboard in Brewton, Alabama, and Leaf River Cellulose in New Augusta, Mississippi in earning this prestigious recognition for environmental stewardship.

LP unveils 2024 Sustainability Report, showcasing leadership in sustainable practices.

Metsä Group, which Metsä Board is part of, has today published an updated Green Finance Framework. Metsä Group's previous Green Finance Framework is from 2019. The Framework enables the continued issuance of green debt instruments in line with the latest market practices and further integrates Metsä Group's 2030 strategic sustainability targets into financing.

Sappi Europe announces that it has cut the carbon footprint of its Galerie paper range by 55%, which is projected to reach 70% by the end of 2024.

Construction will begin in the fall, and commissioning is scheduled for 2025. The investment will allow the plant to reduce its CO2 emissions by 9,100 tons per year.

The FSC is terminating the Trademark License Agreement (TLA) of the eight certificate holders belonging to the Vinda group through a mutually agreed termination agreement. Hence, the Vinda group can no longer be associated with FSC because it was recently acquired by the Royal Golden Eagle (RGE) group. FSC disassociated from the RGE group, which includes APRIL, in August 2013.

In late April, the company announced the plant would shut down this month, for an indefinite amount of time.

Ahlstrom will proceed with the closure of the Bousbecque plant in France. The plant has an annual capacity of approximately 12,000 tons and employs 117 people. Ahlstrom continues to explore options to divest the property.

Fire Chief Dave Bissat said crews were called out to the mill at 5:37 a.m. on Saturday, July 13 for a fire "inside a fine dust silo." The silo was around 120 feet tall and 30 feet wide. Around 15 firefighters responded and Bissat said that the fire was brought under control by mid-morning, however, the fire was still burning inside the silo.

The fire started in the air handling system for two paper machines. "Fire crews were chasing fire through the duct system... when a large fireball erupted from the vent on the roof of the building," the Green Bay Metro Fire Department reported. Firefighters had to cut through the roof, which was labor-intensive.

GreenFirst Forest Products Inc. announces the hiring of Mr. Peter Ferrante as its new Chief Financial Officer. Mr. Ferrante will be assuming the role on August 14, 2024, following GreenFirst's second quarter earnings call.

Heinzel Group has made the decision to close its subsidiary, Raubling Papier GmbH, in Germany, due to persistently difficult market conditions and challenging economic circumstances. This decision follows comprehensive discussions with the local works council, resulting in a successfully concluded social plan.

Robert Long to retire after 45 distinguished years in CPG.

The new Atlanta facility will begin operations in early September 2024.

The Paper Excellence Group announced that it has appointed Luc Theriault to president of its Wood Products business unit. The appointment is effective August 26, 2024.

No injuries as all personnel and onsite contractors taken to safety.

Sappi has paid tribute to the six heroic employees of Famusa Contracting who lost their lives on Sunday fighting fires which destroyed hundreds of hectares of farmland in the KZN Midlands.

Stora Enso has appointed Niclas Rosenlew Group Chief Financial Officer. He will replace Seppo Parvi, who has previously announced that he will leave Stora Enso to continue his career outside the Company. Stora Enso has also appointed Carolyn Wagner Executive Vice President, Packaging Solutions division. She will replace Ad Smit who will retire. They will join Stora Enso latest in January 2025 and be members of Stora Enso's Group Leadership Team.

With reference to the fire and subsequent explosion which occurred on a supplier truck delivering liquid oxygen to the Sappi Saiccor Mill in Umkomaas, KwaZulu-Natal, the following update can be provided.

Western Forest Products Inc. announced that Glen Nontell has been appointed Chief Financial Officer effective August 1, 2024.

Weyerhaeuser will close a lumber mill in Vanceboro in September, resulting in the loss of 73 jobs, according to paperwork filed with the state.