NOREXECO ASA and Myles Cohen have signed an agreement to cooperate in investigating opportunities for financial pulp and paper futures in the North American markets.
Myles Cohen has served as a division president at both Pratt Industries and Sonoco Products Company over the past two decades. With his extensive leadership experience from the waste management and paper industry as well as experience from the financial industry, he has an ideal background investigating if and how the industry can take advantage of the opportunities using futures managing price risk, says Stein O. Larsen CEO of NOREXECO.
Cohen said: "Having served in senior executive roles in two multi-billion dollars North American based pulp, paper, and packaging companies, I've experienced first-hand how fluctuating prices can create volatility in costs and profitability. Financial futures are a great tool to make sure you stay within your risk limits and tolerance for loss. NOREXECO has a great setup, and the necessary experience needed for the international markets, and I am looking forward to working with them to explore opportunities in North America and assist companies to mitigate their risk", continued Myles Cohen, from his offices in Georgia.
NOREXECO ASA - "The pulp and paper exchange"
NOREXECO is a regulated commodity exchange specialized for the global pulp and paper industry. NOREXECO offers trading in cash-settled financial futures. These instruments are used to manage price risk for producers and consumers as well as being a trading opportunity for commodity trading firms. In cooperation with European Commodity Clearing AG, we offer efficient clearing services, which enable all NOREXECO ASA members to substantially mitigate counterparty credit risk, while at the same time optimizing market exposure. www.norexeco.com