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The PM40 closed Friday, 27 September 2024, at 5956.

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 27 September 2024 up 19.7% from the 29 September 2023 level.

In this issue of Disconnected Comparisons, we evaluate International Paper and Rayonier Advanced Materials.

Reported insider trading since the last issue of PaperMoney.

About 25 years ago, in another publication, I wrote an article about renting out surplus office space at pulp and paper mills. I also talked about making land at pulp and paper mills available for cell towers. At the time, the industry was flat on its back, mills were being shut down or pared back and revenue was scarce.

Andritz has initiated a project to build a state-of-the-art service center for pulp and paper mill equipment in Três Lagoas, Mato Grosso do Sul, Brazil.

Orient Paper Industries Ltd (OPIL) entered into a partnership agreement with the BTG Group, to assist them with a digital transformation journey that will be rolled out in phases over the next few years.

Mr. Olli Hänninen (M.Sc. Industrial Management) has been appointed Senior Vice President, Strategy, at Valmet as of October 1, 2024.

Corte has served as vice president, finance at Kadant Johnson since 2021 and before that served as the director of customer service. Since joining the company in 2007, he has worked in various capacities in the financial, commercial, and operations areas of the company.

Kemira updates its long-term financial targets to reflect profitable growth ambitions and structurally higher margin profile.

The first batch of cranes is currently being installed, and the second is scheduled for delivery and installation in the second half of 2024.

The installation of Voith's HighPerformance Press in the press section of Smurfit Westrock Roermond Papier's PM 1 represents a milestone in the development of the product. After a rebuild time of only 38 hours and a smooth start-up, production was fully ramped up again.

Innovation supports the growing global need to replace single-use plastic packaging.

ANDRITZ and PulPac AB, the Swedish pioneer in Dry Molded Fiber technology, have entered into a strategic partnership to serve the alternative packaging market with their complementary expertise.

Valmet has been ranked as the second most attractive employer among engineering professionals in Finland, according to a new study by Universum.

The delivery will be completed in December 2024.

The delivery is scheduled for the fourth quarter 2024.

The new mill is estimated to start-up in the second half of 2027.

The Shareholders' Committee of Voith Management GmbH has appointed Dirk Hoke as President and Chief Executive Officer (CEO) of Voith GmbH & Co. KGaA, effective April 1, 2025, at the latest.

Glatfelter Corporation, a leading global supplier of engineered materials, is proud to announce significant advancements in sustainable materials for espresso pod lids to address the growing demand for eco-friendly packaging solutions in the single-serve coffee market.

Beckham received the Bronze Award, alongside the CSOs of Starbucks (Gold) and Salesforce (Silver).

Lana Wilhelm, Paper Excellence Group's director of Indigenous Relations, received the prestigious Women in Forestry Award of Excellence from the Forest Products Association of Canada (FPAC).

For being a visionary leader, Brad Thorlakson of Vernon-based forestry giant Tolko has been awarded the 2024 Lifetime Achievement Award from the Forest Products Association of Canada.

New Zealand-based CarbonScape and biomass developer Stora Enso have announced plans to build a biographite demonstration plant in Kotka, southern Finland.

Södra confirms Stora Enso among the first customers for kraft lignin. This follows the major investment announcement earlier this year regarding kraft lignin production at Södra's Mönsterås site. The plant will be the first commercial kraft lignin production facility in Sweden and the largest of its type in the world. It is expected to be in operation in 2027.

Södra confirms UPM among the first customers for kraft lignin following the major investment announcement earlier this summer regarding kraft lignin production at Södra's Mönsterås site. The plant is expected to be in operation in 2027, when it will be the first commercial kraft lignin production facility in Sweden and the largest of its type in the world.

A Weyerhaeuser sawmill facility in Craven County received a $48,393 fine from the N.C. Department of Labor related to a March 17 workplace fatality. The Labor Department cited Weyerhaeuser with three "serious violations" after an investigation of the fatality at the facility in Vanceboro.

The €17.6m ($19.7m) upgrade is part of a broader €33.9m investment plan aimed at enhancing production capacity, energy efficiency, and innovation in the Greek packaging market.

Up to 2,000 contractors are working to transform Shotton Mill in Flintshire into one of the UK's largest cardboard and tissue production facilities, which it is hoped will start operating next year.

According to company leaders, the $550 million expansion will create over 100 new jobs. About 850 people worked at the Broadway facility before the expansion.

Georgia-Pacific said it will redevelop its namesake 51-story downtown tower into a mixed-use destination.

Port Hawkesbury Paper is pouring $400 million into the construction of a wind farm in Nova Scotia's Guysborough County that is targeted to supply 60 per cent of the paper mill's current power needs.

Stora Enso has started operations in its new head office, Katajanokan Laituri, in Helsinki, the largest mass timber building in Finland.

In May, Pactiv Evergreen agreed to exclusively negotiate with Spirtas Worldwide, a company specializing in repurposing closed paper mills and other industrial sites. While it was estimated negotiations could take up to a year, it appears the details were worked out in four months.

Amcor plc announced that Graham Chipchase has been nominated as a non-executive director for election at the Company's Annual Meeting of Shareholders on Wednesday, November 6, 2024.

Doug Schwartz has extensive experience in the U.S. forest and paper industry, including serving in key leadership roles at companies such as Sonoco Products Company (Sonoco), International Paper and Champion International Corporation. He most recently held the position of Vice President and General Manager, Rigid Paper Containers at Sonoco.

John Baird, Chairman of Canfor Pulp Products Inc. Board of Directors announced that Kevin Edgson will be leaving the role of President and Chief Executive Officer on October 31, 2024.

Twin Rivers Paper Co. Inc. was the only mill eligible for the tax credit meant to help modernize equipment and save jobs. A state report recommends more transparency about business incentives.

Investments in new fossil-free power production

Cosmo Specialty Fibers Inc. has been hit with a $42,000 fine for failing to dispose of hazardous waste material that has accumulated at the property.

The solar VPPA is a significant step toward achieving Greif's climate target to reduce its Scope 1 and 2 greenhouse gas emissions by 28% by 2030, compared to a 2019 baseline.

Miles Roberts, chief executive of paper and packaging giant DS Smith, said the UK's high cost of electricity compared to the US and Europe was hurting the competitiveness of its businesses.

Collaboration will highlight and advance the role of climate-smart forestry in mitigating climate change.

Jordi Aguiló assumes the presidency of ASPAPEL (Spanish Association of Pulp, Paper and Cardboard Manufacturers) for the next two years.

The Prattville Fire Department was fighting a large industrial fire Monday night, Sept. 23, at the city's International Paper mill.

Mercer International Inc. announced that its Peace River mill has taken downtime to complete necessary repairs to the mill's digester after experiencing a mechanical failure. The Company currently expects the repairs and related assessments will be completed in mid-October 2024, and anticipates that NBHK production at the mill will be reduced by approximately 45,000 tonnes during such period.

Antti Eskola has been appointed Sawmill Manager at Metsä Fibre's Renko sawmill as of 1 November 2024. Previously, Eskola has been responsible for the procurement and contract management of Metsä Group's Kemi bioproduct mill project, has been involved in several strategic procurement projects, and held different procurement positions in Metsä Group.

Metsä Fibre's Joutseno pulp mill, part of Metsä Group, is undergoing a production shutdown to adapt to the current market situation. In addition, on the basis of construction technical reviews, the mill's baling plant building has been placed under a temporary operating ban due to the potential risk of collapse detected in the roof structures.

Union spokesperson Joe Gallagher said the mill's last day would be 18 December and at least 72 workers at the mill had been affected.

The preliminary investigation determined that on September 18, 42-year-old Anthony Smith Jr., of Milton, a Cottrell Paper employee, became trapped in a compactor on-site. Company members as well as firefighters and emergency medical personnel were able to remove Smith from the machinery, but officials say he couldn't be revived and he was declared dead at the scene by a Saratoga County coroner.

Tolko Industries announced a two-week shutdown of its lumber plant in Armstrong, British Columbia, citing ongoing market challenges and resource shortages. The closure will last from September 16 to October 1, according to a statement from company spokesperson Chris Downey.

The indefinite curtailment of Lake Butler Sawmill will impact approximately 130 employees and reduce West Fraser's U.S. lumber capacity by approximately 110 million board feet.