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The PM40 closed Friday, 30 August 2024, at 5811.

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 30 August 2024 up 11.7% from the 1 September 2023 level.

In this issue of Disconnected Comparisons, we evaluate Graphic Packaging and Sonoco.

Reported insider trading since the last issue of PaperMoney.

The modern company employee organization is an extension of military organizations going back thousands of years. There are the managers or salaried staff (officers of old) and the hourly workers (soldiers). As a society we have now often thrown in unions to represent the hourly workers. In my 54-year career, the division between the salaried and hourly staff has done nothing but grow, now leaving in many cases a vast chasm between the two.

Andritz will supply a new high-capacity chemi-mechanical pulp production line to Zhanjiang China Paper Co., Ltd., a subsidiary of Guangdong Guanhao High-Tech Co., Ltd. in Guangdong Province, China.

Andritz has provided key equipment for a new hardwood Neutral Sulfite Semi-Chemical (NSSC) production line and for a woodyard upgrade to packaging and paper producer Mondi at its containerboard mill in Kuopio, Finland.

GAW started up the new coating colour preparation at Mondi Jülich (part of Mondi Group). It was the first order for GAW at this plant located in the border triangle of Germany, Belgium, Netherlands.

Valmet is to deliver six wire tyers to Sappi's Saiccor dissolving pulp mill in South Africa. Valmet Wire Tyer is a fully automated tying machine that applies high-tensile steel wire around pulp bales at pre-selected positions.

Cascades Inc. is the proud recipient of five awards recognizing the excellence of its employees and its sustainability efforts: four of the company's young leaders were named in Pulp & Paper Canada's 2024 Top 10 Under 40, and its innovative packaging solution, Cascades Fresh GUARD EnVisionTM, won a Canadian Grocer's 2024 Impact Award in the Sustainability category.

Cascades announces the unveiling of a fresco painted on its Candiac plant. The project, part of the company's 60th anniversary celebrations, was conceived and produced by the TYXNA artists' collective.

Specialty paper manufacturer presents solutions at PRINTING UNITED 2024 as consistent demonstration of the brand promise PAPER MADE FOR LIFE.

The ESG report outlines the company's Better, Every Day sustainability strategy and plans for achieving its new Better by 2030 sustainability goals designed to drive more circularity in its innovative paperboard consumer packaging, support a safe and inclusive culture, and protect environmental resources.

Pactiv Evergreen Inc., a leading manufacturer of fresh food and beverage packaging in North America, is excited to launch innovative Recycleware® Reduced-Density Polypropylene (RDPP) meat trays. Pactiv Evergreen's Recycleware RDPP meat trays are the perfect solution for packer processors seeking alternatives to foam polystyrene.

Packaging paper manufacturer Sappi Europe is expanding its broad portfolio by adding new products such as Guard ICC, a flexible packaging paper for ice cream cones, Guard OHS a barrier and heat sealable paper for various food and non-food packaging applications and Guard Twist Gloss, a glossy, recyclable wax free barrier paper for twisting applications in the confectionary market.

Sappi North America Inc., a leading producer and supplier of diversified paper, packaging products and pulp, today announced its recognition with Communitas Awards for three exceptional projects: "The Power of Trees" campaign; the Cloquet Water Savings Project; and the Somerset Mill Safety Record. These awards highlight Sappi's ongoing commitment to sustainability, innovation and workplace safety.

Sofidel has been named a finalist in the Global CSR & ESG Initiative category for Ragan's CSR & Diversity Awards, recognized for its "Sofidel and Suzano for 'Together we plant the future'" campaign. This project, in collaboration with Suzano, reflects Sofidel's efforts to support environmental sustainability and social development. The recognition highlights the company's focus on meaningful global partnerships that contribute to positive change within the community and workplace.

Stora Enso, a leading global provider of renewable solutions for packaging, paper, and biomaterials, has announced a strategic partnership with Enkei, a Swedish design startup committed to creating sustainable products.

EcoVadis has awarded UPM a platinum score based on the company's sustainability performance in four categories: Environment, Labour and Human Rights, Ethics and Sustainable Procurement. Only one percent of the 130,000 global companies assessed received a platinum rating. UPM scored 81/100 in the Manufacture of Pulp, Paper, and Paperboard industry.

Net income decreased 3.5% to $87.1 million or $1.50 per diluted Class A share compared to net income of $90.3 million or $1.55 per diluted Class A share.

Greif, Inc., a global leader in industrial packaging products and services, announced that its Board of Directors has declared quarterly cash dividends of $0.54 per share on its Class A Common Stock, and $0.81 per share on its Class B Common Stock.

In the Q2 2024, the Mayr-Melnhof Group (MM Group) was able to improve results compared to the previous quarter and exceeded the previous year's figure.

The quarterly dividend of $1.25 per share will be paid to shareholders of record as of September 16, 2024 with a payment date of October 15, 2024.

The price adjustments include timber, small sawn assortments, softwood pulpwood, hardwood pulpwood, fuelwood and grot. The price adjustments are aimed at stimulating forestry activities such as regeneration felling, thinning and conservation management.

Smurfit Westrock plc announces that one of its indirect wholly owned subsidiaries, WRKCo Inc. ("WRKCo"), has applied to the Autorité des marchés financiers (the "AMF"), as WRKCo's principal securities regulator in Canada, for a decision that it has ceased to be a reporting issuer (the "Order Sought") in Québec, Manitoba and British Columbia (the "Canadian Jurisdictions").

Duties on softwood lumber from Canada have climbed to 14.54% from 8.05%.

Sustainable packaging company DS Smith has teamed up with home appliance company Versuni to launch a packaging solution for the new Philips Baristina coffee machine.

Vattenfall and the newly established industrial collaboration Industrikraft, which currently consists of Alfa Laval, Boliden, SKF, Stora Enso and the Volvo Group, will work together to investigate the conditions for joint investments in new electricity production.

Police collected an "AK47 style pistol," two loaded AK-style magazines and two loaded AR-15 style magazines. A manager told police that there were 75 employees present during the incident and a loss of $15,000 in wages.

McKinley Paper Mill will label the Port Angeles mill closure as permanent, triggering benefits for eligible employees.

Smurfit Westrock will now pursue the full value of the Award from Venezuela.

Stora Enso has suspended harvesting in all areas throughout Finland where there are restrictions under the Water Act, the Forest Act or the Nature Conservation Act. Harvesting has been suspended until the operational guidelines, harvesting plans and risks related to these sites have been reassessed. Any non-compliance that may be detected will be assessed in cooperation with the authorities.

Stora Enso's internal investigation into the environmental violation in Hukkajokiin Finland, which was discovered on Thursday 15 August has been completed. The investigation was conducted with the assistance of an external legal expert. The violation is also subject to a police criminal investigation and is being investigated as a serious nature conservation crime.

The violation is being investigated as a serious nature conservation crime.

APRIL, a member of the RGE group of companies, announced that it has invested more than Rp100 trillion (approximately US$6.4 billion) in transforming Pangkalan Kerinci from a small village in Pelalawan regency, Riau, into a thriving industrial complex.

Metsä Group's Kerto LVL mill project is progressing as planned in Äänekoski, Finland, and the mill has reached its rooftop height.

MM Kotkamills has built a new Sheeting Centre with two state-of-the-art sheet cutters and related automation. This investment of more than Euro 30 million for the further processing of cartonboard will strengthen MM Kotkamills' position as a supplier of cartonboard sheets in the European market.

The Waldo modernization and expansion project is a $131 million strategic investment that is expected to increase the mill's annual capacity by 85 million board feet, improve recovery by 6%, and reduce cash processing costs by approximately 30%.

Pregis®, a leading global manufacturer of protective packaging, mailing and bagging, and flexible packaging solutions, has made significant investments in new production lines at its Bethel, Pennsylvania, and Reno, Nevada facilities to increase capacity for its Pregis EverTec™ Mailer portfolio, with a particular focus on the EverTec Non-Cushioned Mailer. This investment underscores the company's commitment to meeting the growing needs of ecommerce fulfillment and retail industries.

Sofidel is investing up to $250 million to grow the tissue paper mill.

Turkish industrial and retail group Eren Holding AS has secured a €775 million ($854 million) loan to finance a $1.3 billion container-board and tissue mill in Wales, in a boost to foreign direct investment in UK manufacturing.

The Magnera board of directors ("Magnera Board") will consist of nine directors, with five directors designated by Berry, three directors designated by Glatfelter, and the Chief Executive Officer.

Iconex Labels is a leading provider of variable information label solutions, serving customers across e-commerce & shipping, foodservice, grocery & retail, pharmacy, and other end markets.

Everett's packaging and laminating facility houses state-of-the-art assets, including a Bobst Masterflute, coupled with Bobst large format die cutting and gluing.

Shares held by B&C Group were acquired for EUR 230 million.

Nearly 10,000 Canadian rail workers will end their work stoppage after the Canada Industrial Relations Board sided with a federal order to resume operations at Canadian Pacific Kansas City and Canadian National Railway. The board also imposed binding arbitration to reach new collective agreements between the rail companies and the Teamsters Canada Rail Conference, the union representing the workers.

CFO Mike Cole to add new role, President of Corporate Services.

The Supervisory Board of Heinzel Holding GmbH announces the appointment of Karl Achleitner as Chief Operating Officer (COO) of Heinzel Holding, effective September 2, 2024. Achleitner will join the top management team of Heinzel Group, alongside CEO Sebastian Heinzel.

Interfor announced that it will indefinitely curtail operations at its sawmills in Meldrim, Georgia and Summerville, South Carolina. These curtailments are in response to persistently weak lumber market conditions.

The facilities, which make a range of paper products, will close in 2025 and the manufacturing site of bathroom wipes at Kimberly-Clark will move to Germany.

UPM Fibres renews its organisation by centralising its production operations in Finland under one top level organisation. The change will simplify the Fibres Business Area structure.

In a recent announcement from NOAA Research, it states that the NOAA is testing next-generation wildfire detection and warning tools.

Amcor, a global leader in developing and producing responsible packaging solutions, announced the publication of its Decarbonization Roadmap to reduce greenhouse gas (GHG) emissions. Amcor's targets are aligned with the latest climate science aiming to limit global temperature rise to 1.5 degrees Celsius and validated by the Science-Based Targets initiative (SBTi).

Hygiene and health company Essity's targets to reach net zero greenhouse gas emissions by 2050 have been validated by Science Based Targets initiative (SBTi). The validation applies to all near- and long-term targets in Scope 1, 2, and 3. The roadmap has been developed as part of the U.N. Global Compact's "Business Ambition for 1.5°C".

Healthy forests are essential to a healthy future for our planet: they mitigate climate change through carbon sequestration, clean our water and provide habitat that wildlife populations need to thrive. With more than 1.6 billion people reliant on them for their livelihoods, forests also deliver substantial economic benefits. And at International Paper, forests are at the heart of everything we do.

Nature has rapidly risen in the global sustainability agenda and is soon, if not already now, sharing the top place with climate. This new focus is driving businesses to recognize their deep economic dependence on natural resources, with over half of the global GDP--around $44 trillion--moderately or highly reliant on nature.

Metsä Group's production units annually generate around 12 million tonnes of wood-based carbon dioxide, and the company is increasingly focusing on promoting its large-scale capture.

Sappi has awarded GAW technologies with an order to increase the efficiency of production processes - in detail to expand the storage of starch as well as a retrofitting / boosting of efficiency for pigment tanks at its Ehingen mill in Germany.

The bond matures in August 2034 and pays a fixed annual coupon of 3.375% and is rated BBB+ by S&P Global Ratings.

Crews are investigating a three-alarm structure fire at Roseburg Forest Products in Medford, Monday, Aug. 26.

A pile of cardboard is believed to have caught fire, according to a public alert put out about the fire.

An employee at a Perry County pulp mill was burned severely Friday, Aug. 16, and airlifted for treatment to a Jackson hospital.

Klabin continuously invests in fire prevention. To address this issue, the Company relies on a structure equipped with an advanced system for monitoring its forests, teams trained for the rapid containment of incidents, and the dissemination of information to raise awareness among the population about the risks and show that prevention is the best approach.

Metsä Fibre, part of Metsä Group, has concluded the change negotiations on possible temporary layoffs at Joutseno pulp mill on 26 August 2024. The negotiations covered the entire workforce of the Joutseno pulp mill, a total of approximately 190 people.

The respective participation processes with the employee representatives have been concluded. The number of positions affected is 338.

The UPM Kaukas and UPM Kymi pulp mills in Finland will adjust their production temporarily to meet market conditions. The mills' production will be curtailed in accordance with the change negotiations held in March.