Market News of Note

The new price is valid from August 1, 2024.

Smurfit Westrock plc, a global leader in sustainable packaging, is pleased to announce its primary listing on the New York Stock Exchange (NYSE), under the ticker 'SW,' following the completion of the previously announced combination of Smurfit Kappa and WestRock on July 5, 2024.

The chief financial officer of newly formed paper packaging giant Smurfit WestRock said consumer demand is coming "along nicely" and at similar levels in the second quarter to the growth seen in the first three months of the year.

Sonoco announced it will raise the price for all converted paperboard products by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after July 10th, 2024. This includes tubes, cores, cones and protective packaging.

Hygiene and health company Essity is presenting new financial targets based on the company's portfolio following the divestment of the subsidiary Vinda. The new targets are an increase in ambition with an emphasis on profitable growth and are based on the company's robust platform with leading positions in growing and attractive markets.

London-listed shares in Smurfit Kappa rose on Wednesday after Bloomberg News reported that Smurfit WestRock, the company formed by a merger between the Irish packaging group and U.S. peer WestRock, will be included in S&P Dow Jones Indices's averages.

Following the announcement of 25th March 2024, Sonoco announced it is implementing a further price increase as input costs have continued to rise beyond our initial estimation.

Greif, Inc., a world leader in industrial packaging products and services, announced it is implementing a $50 to $70 per short ton increase for all grades of uncoated recycled paperboard (URB) products.

Sonoco-Alcore S.a.r.l. announced today that due to continued inflationary pressure on the business, it will raise prices by 7% on all tube and core grades sold in the company's EMEA regions. The increase is in direct response to the continued escalation of its cost base and will be effective for all shipments made on or after 15th June, 2024.

This price action is necessary to offset increased input costs, the company insists.

According to GEF, the tube and core and protective packaging products price increase is a consequence of the URB price increase, the primary raw material contained in those products.

Conifex Timber Inc. announced that it has completed a $25 million secured term loan with PenderFund Capital Management Ltd. ("Pender"), an independent investment firm located in Vancouver, British Columbia, Canada. A portion of the term loan was utilized to repay and retire Conifex's existing lumber segment credit facility with Wells Fargo Capital Finance Corporation Canada in the amount of approximately $11 million. The balance of the term loan will be available for working capital and general corporate purposes.

The recent financing, which includes new capital investment and amendments to the Company's credit facilities, was completed in collaboration with the Company's existing lenders and has substantially bolstered the Company's cash liquidity position.

Hygiene and health company Essity is presenting new financial targets based on the company's portfolio following the divestment of the subsidiary Vinda. The new targets are an increase in ambition with an emphasis on profitable growth and are based on the company's robust platform with leading positions in growing and attractive markets.

Due to continuous cost increases, Felix Schoeller will raise its prices for release liners globally from June onwards.

During Södra's general meeting in Kalmar, a decision was made to distribute the profit distribution of SEK 1,474 million to the members. During the meeting, evaluation of the southern model, development of the business model and the risk that species protection could render the forest owner disenfranchised were highlighted.

World's largest single pulp production line is set to commence operations in the coming weeks.

Stora Enso estimates that the previous full year 2024 adjusted EBIT guidance will be exceeded, thanks to successful implementation of profit improvement actions and more favourable market conditions.

Brazilian pulpmaker Suzano will maintain its capital discipline and would not make any move solely aimed at growing, as it is focused on adding value for shareholders, Chief Executive Walter Schalka said.

Government acknowledges need for more supply, blames closures on corporate decisions, markets.

The Board of Directors of Sonoco increased its quarterly common stock dividend to $0.52 per share from the previous quarterly distribution of $0.51 per share. This new dividend will be paid on June 10, 2024, to shareholders of record as of May 10, 2024.

Given the market conditions and macro-environment, the first quarter result is in line with expectations. The result reflects the weak trend in construction activity and decreased supply in the raw material market.

Company says it is seeing early financial benefits from recent closures of some of its lumber mills.

Sonoco announced it is implementing a 6% price increase for tubes and cores products sold in Mexico starting with May 2024 deliveries.

This increase is necessary to maintain the viability of Sappi's business, the actual amount will depend on the product group: Flexible packaging - 15%, Release liner (CCK & Glassine) - 15%, Label papers - 10%.