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The PM40 closed Friday, 15 May 2026, at 4861.

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 15 May 2026 down 7.2% from the 16 May 2025 level.

In this issue of Disconnected Comparisons, we evaluate 3M and Rayonier Advanced Materials.

The Trump Administration's executive orders cut across dozens of industries. This searchable tool breaks down the orders and their impact.

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, close to 150 papermaking innovators and legends have been enshrined. This month, we profile Theodore Wegner, who was inducted into the Hall of Fame in 2013

With MaxPulping, AFT further strengthens its presence across the papermaking process by offering a complete pulping solution that includes core equipment, wear parts, and related services.

Their arrival marks a significant step in strengthening Allnorth's technical leadership and execution capabilities as the company continues to expand its footprint in the pulp and paper industry across North America.

Start-up is scheduled for the fourth quarter of 2026.

The 2026 designees are U.S. private companies that have demonstrated excellence in strategic planning and execution, a commitment to their people, as well as maintaining financial performance and governance.

Start‑up planned for Q4 2027

New venture arm to invest in and scale companies driving the next generation of packaging and reimagining how products move through the global supply chain.

Georgia-Pacific has started tracking package weight, materials and origins -- alongside traditional retail metrics -- using existing barcodes.

A unique paperboard solution: SUPD-compliant, recyclable and based on renewable resources.

Mondi and Dreco have created new powder detergent packaging with 50% post-consumer recycled content, reducing reliance on virgin plastics and helping Dreco stay ahead of future regulatory requirements.

The recognition places Sappi among the top 1% of companies assessed by the global business sustainability ratings provider.

ActiBluTM removes the need for glue in the assembly of packaging.

Stora Enso has updated its Trayforma portfolio by introducing the new unbleached Trayforma Brown and cutting basis weights across the range.

This award recognizes an individual whose leadership and pioneering contributions have made a lasting impact on the world. At the event, Tony was commended for being an 'outstanding' business leader for his role at the helm of a packaging giant which spans 40 countries.

UPM has been included among the leading companies and as the only company in its sector in the Dow Jones World and European Sustainability Indices (DJSI) for 2025-2026, placing it among the world's most rigorously assessed sustainability leaders for several years in a row.

UPM Adhesive Materials, a global supplier of high-performance self-adhesive products, introduces the new UPM ProCycle™ portfolio of recycling compatible label solutions. The portfolio brings together advanced adhesive technologies and circular products in a coherent offer, to help converters and packaging brand owners select solutions that deliver recognized recyclability performance.

UPM Adhesive Materials, a global supplier of innovative self-adhesive label materials, launches UPM QuickStick™ receipt materials, designed to help quick-service restaurants (QSRs) improve order accuracy and speed of servicing customers. It delivers reliable labeling performance across various food packaging surfaces, such as paper wraps, cardboard boxes, coated packaging, and plastic containers.

Arctic Paper has announced a price increase of 4-8% for both uncoated and coated fine papers across the European market. The new pricing will apply to all deliveries from 1 June 2026.

Amcor has reported attributable net income of $278m for the third quarter (Q3) of fiscal year 2026, up 41.8% from $196m in the prior-year period.

Boise Cascade Company reported net income of $17.8 million, or $0.50 per share, on sales of $1.5 billion for the first quarter ended March 31, 2026, compared with net income of $40.3 million, or $1.06 per share, on sales of $1.5 billion for the first quarter ended March 31, 2025.

Canfor Corp. reported a loss of $72.1 million in its latest quarter compared with a loss of $31 million a year earlier and said global markets remained challenging.

Net earnings per common share of $0.38 (compared with $0.37 in Q4 2025 and $0.07 in Q1 2025).

The U.S. Department of Commerce is initiating administrative reviews of antidumping and countervailing duty orders with March anniversary dates, with the actions applicable May 4, 2026, and final results planned no later than March 31, 2027.

The company said it is actively addressing headwinds through cost-cutting initiatives, including workforce reductions.

Q1 2026 net loss from continuing operations was $20.7 million or $0.89 loss per share (diluted), compared to net loss of $32.8 million or $1.43 loss per share (diluted) in Q4 2025.

Interfor recorded a net loss of $63 million in the first quarter of 2026, compared with a $105 million net loss in the prior quarter, as benchmark lumber prices rebounded and the company's average selling price rose to $666 per thousand board feet. The company posted adjusted EBITDA of $31 million on sales of $643 million in the quarter.

Curated color collection designed for coastal aesthetics and proven performance.

Magnera Corporation reported its second-quarter results for 2026, revealing net sales of $796 million and an operating income of $17 million.

GAAP loss was $11.7 million, an improvement of 97.3%, compared to $425.5 million in prior year period (which included a $411.9 million goodwill impairment charge); GAAP EPS was $(0.22).

The company posted a net loss of $52.0 million, or $0.78 per share, compared to analyst estimates calling for a loss of $0.56 per share.

Packaging Corporation of America announced that it intends to increase the quarterly cash dividend on its common stock to an annual payout of $6.00 per share from $5.00 per share, a 20% increase.

Rayonier Inc reported its first quarter results for 2026, revealing a mixed bag of GAAP losses and significant pro forma improvements driven by its recently completed merger with PotlatchDeltic.

Net loss was USD 450 million compared to net income of USD 50 million a year ago.

Stora Enso reported adjusted EBIT of Euro 159 million for the Q1 ended March 31, 2026, a 9% decrease from Euro 175 million in the same period last year, driven by negative net foreign exchange rate movements and the ramp-up of the new consumer board line at the Oulu site.

Suzano, the world's largest pulp producer, announces its results for the first quarter of 2026 (1Q26), achieving a new all‑time record in pulp sales. Over the 12‑month period from April 2025 to March 2026, the company sold 12.7 million tonnes of pulp, the highest volume ever recorded in its history. During the same period, Suzano also sold 1.7 million tonnes of paper across the packaging, printing and writing, specialty, and tissue segments.

Sylvamo generated a net loss of $3 million and adjusted EBITDA of $29 million, representing a 4% margin. Cash used for operating activities was $10 million, and free cash flow was negative $59 million.

A shareholder filed a class action lawsuit against Graphic Packaging International on May 7 alleging the company and certain C-suite executives violated federal securities laws by misleading investors. The suit was filed in the U.S. District Court for the Southern District of New York.

International Paper brand DS Smith has invested more than €14m ($16.4m) into its production network in Romania.

Georgia-Pacific has started final engineering and planning for additional structured paper machines and associated converting equipment to better meet growing customer and consumer demand for premium bath tissue and paper towels.

Kruger Inc. has announced a $333 million investment marking its entry into the nonwovens sector and advancing its long-term portfolio diversification strategy. This new division will focus on manufacturing some of the industry's most sustainable materials for a broad range of wipe applications.

The Ontario government is investing $10 million in Georgia-Pacific North Woods to advance a major $191 million upgrade to its oriented strand board (OSB) plant. The project will support the increased production of Ontario-made wood products and protect more than 220 jobs and hundreds of indirect jobs in the region.

The building materials manufacturer plans to invest $1.175 billion over the life of the project and create nearly 200 jobs, according to the governor's office. The company's initial investment in the Orange facility is $650 million.

Domtar said in a statement that it is exploring a variety of possibilities for the future of the waterfront site, and North Cowichan Mayor Rob Douglas said a number of interested parties have contacted the municipality directly looking to buy the site for a range of potential uses, including manufacturing, energy production, and other industrial purposes.

The ‌deal ⁠is also being investigated by the UK watchdog.

Marcal Paper has acquired the St. Catharines Tissue Mill in St. Catharines, Ontario, Canada, from BiOrigin Specialty Products. The mill, founded in 1912, produces TAD parent rolls for premium paper towel and bath tissue products alongside a range of specialty paper grades. Financial terms of the transaction were not disclosed.

With a capacity production of 1.200 million square meters of corrugated board packaging, THIMM employs 2,500 people in Germany, Poland, Czech Republic and Romania.

The 1.2-million-hectare entity is set to become Europe's largest listed forest company.

Twin Rivers Paper Company has acquired Potsdam Specialty Paper Inc. (PSPI), a manufacturer of specialty latex, acrylic and saturated base papers, in a move that adds 26,000 tons of annual production capacity.

UFP Industries announced the acquisition of the operating assets of John Rock, Inc., a new pallet manufacturer headquartered in Coatesville, Pa., for approximately $48 million. The transaction fills a key gap in PalletOne, Inc.'s geographic reach and strengthens UFP Packaging's ability to serve national customers with a presence in the northeast region.

The transactions further advance UFP Industries' capital allocation strategy, which prioritizes investments in core, higher-margin businesses, disciplined M&A, and the expansion of manufacturing capacity in markets that support national customers across packaging and industrial end uses.

UPM on May 13 announces that it has reached an agreement with Avantium N.V. to acquire the intellectual property related to Avantium's Ray Technology®, a process for the production of bio-based mono-ethylene glycol (MEG) and mono-propylene glycol (MPG) from plant-based sugars.

The acquisitions deepen Veritiv's presence in Central Florida and strengthen its penetration in underrepresented Northeast markets, expanding the company's packaging capabilities and regional customer coverage.

Keen joined Appvion in November 2025 as Strategic Sales Director, bringing more than 25 years of experience in the pressure-sensitive labels and specialty papers industry.

Modern paper recycling facilities are under increasing pressure to improve process stability, reduce maintenance costs, and maximize fiber recovery while handling growing production volumes. For mills processing recycled fiber, bale handling before pulping can have a major impact on downstream efficiency.

Kodiak Driver will haul timber from forest sites in Alberta, Canada later this year.

Cross Wrap provides automated solutions that simplify bale handling and wire removal, ensuring smooth, safe, and reliable stock preparation. With over 100 Dewiring Machines and Wire Cutters installed worldwide, including at major paper recyclers and board mills, these systems are proven to perform under demanding conditions.

Södra is taking the next step in its innovation journey with the launch of Södra blue S - a new type of paper pulp that combines softwood fibres with oat hulls from Swedish grain processing. The initiative is a concrete example of how Södra explores new solutions while using resources more efficiently to create value and contribute to a more circular future.

Sonoco Products Company reported that Chief Accounting Officer Aditya Gandhi has notified the company of his intention to resign, effective May 29, 2026.

The Ontario warehouse fire and what it reveals about the response gap in high-fuel-load facilities.

Essity initiates a strategic review of the Consumer Tissue business area's global operations. The review will evaluate strategic alternatives with the aim of creating the best possible conditions for the Consumer Tissue business and the Group to develop to their full potential and maximize value creation.

Domtar is proud to announce that it has been selected as the winner of the Sustainable Forestry Initiative (SFI)'s Leadership in Conservation Award. Since 2007, this annual award has recognized an SFI Certified organization, a team of partners or a research- or conservation-related individual for outstanding conservation achievements and innovation.

Smurfit Westrock has published its 2025 Sustainability Report, outlining ambitious new Better Planet targets, the significant progress made across climate, circularity and communities, and the role of paper based packaging in supporting a lower carbon, circular economy.

Nearly 200 emergency responders battled what officials described as a deep-seated blaze three-alarm fire at a paper recycling facility on Victory Boulevard for more than 12 hours Thursday, officials said.

DS Smith looks set to close one of its South West sites with the loss of all 167 jobs.

There were no injuries.

The incident was brought under control in about four hours after crews arrived "largely due to the density and composition of the materials involved," officials said.

The FDNY responded Thursday morning to a fire at the Pratt Industries paper recycling facility in Travis.

It took 175 firefighters to extinguish Ontario's 1.2-million-square-foot Kimberly-Clark paper goods warehouse allegedly set alight by a disgruntled employee who wanted higher pay on April 7.

Hilty is responsible for setting the IIB business unit's strategy, strengthening commercial execution, and driving financial results. He is based in Charlotte, North Carolina, and will report to Novolex Chairman and CEO, Stan Bikulege.

Crews say the fire inside the Smurfit Westrock facility in Claremont started when a worker accidentally dropped a battery-powered flashlight into a compactor and smashed it.