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Huhtamaki has entered into an agreement to acquire Elif Holding A.Ş. (Elif), a major supplier of sustainable flexible packaging to global FMCG brand owners, with operations in Turkey and in Egypt.
CatchMark Timber Trust, Inc. announced that it had completed the sale of 18,063 acres of prime Oregon timberlands - known as the Bandon property - for $100 million in cash, or approximately $5,536 per acre, to Roseburg Resources Co. The property had been purchased in August 2018 for $88.8 million or $4,916 per acre.
The expansion comes as a result of an increase in global shipping and logistics needs and will include an addition of more than100,000 square feet to Pratt's existing facility. Upgrades will include new machinery, new scrap recycling system, waste water system and additional warehouse space.
Interfor Corp. said Aug. 11 it will spend $30 million to expand its sawmill in Summerville, just months acquiring the facility from WestRock Co.
John Begley, who has been the CEO of Columbia Pulp LLC throughout the local private company's eight-year existence here, announced his retirement effective Sept. 3.
Canfor opened its Houston mill August 9, following a two-week shutdown caused by rail system bottlenecks and other problems in southern B.C. owing to wildfire outbreaks there.
Metsä Group's innovation company Metsä Spring Ltd has made an equity investment in Innomost Ltd, a startup converting forest industry side streams into high-value bioactive products. The financing round totals approximately Euro 5 million, consisting of private investments and public financing from Business Finland and ELY Centre for Central Finland. Metsä Spring is participating in the round with Innovestor Technology Fund and other private investors.
Saica Pack successfully manufactured more than 1 million square meters worth of corrugated cardboard at its Thrapston facility near Northampton, the UK.
Klabin started construction on its new terminal on the quay of the Port of Paranaguá in Brazil. In this phase, the project is expected to create 180 new jobs. Once the terminal starts commercial operations, it will require around 170 direct and indirect employees.
At Verso's second quarter earnings conference call Friday morning, Randy Nebel, Verso's president and CEO, said the special committee is made up of two non-executive parties and "disinterested parties" and retained independent advisors to evaluate the proposal from Atlas Holdings LLC and any other options Verso might have. The committee will then make a recommendation to the Verso board.
The name Sylvamo speaks to the company's connection to trees and highlights its role as a steward of sustainable forests. Sylvamo combines the Latin words for forest, "silva," and love, "amo." Company leaders translate this unique combination as "love of forests."
Klabin has announced investments of R$ 40 million ($8 million) in the technology employed to apply dispersible barrier in the paperboard used to produce diverse types of packaging present in everyday life.
Gov. John Bel Edwards and Interfor on Friday announced the company's plans to spend up to $8 million to revive the old Georgia-Pacific sawmill near DeQuincy.
The Kwidzyn business has approximately 2,300 employees with an annual capacity to produce 740,000 metric tons of folding boxboard, uncoated freesheet, specialty kraft papers, and market pulp on four machines.
Verso says its requirements were over when the mill was sold and the new owner started making electricity payments.
"A PCA employee died at the Counce Mill in Counce, Tennessee as a result of a clamp truck accident. Our condolences and prayers are with his family and others in his life."
Charles Swanson, an architect for the project, said the facility would be one of the two largest facilities of its kind in North America. Atlantic Packaging is building a similar facility in Canada.
The expansion comes as a result of an increase in global shipping and logistics needs and will include an addition of more than100,000 square feet to Pratt's existing facility. Upgrades will include new machinery, new scrap recycling system, waste water system and additional warehouse space.
The Mayr-Melnhof Group ("MM") announces the closing of the divestment of its virgin fiber-based cartonboard mills located in Eerbeek, Netherlands, and Baiersbronn, Germany, to a subsidiary of funds managed by Oaktree Capital Management, L.P. The divestment is in line with MM's strategy to focus on new acquisitions and growth capex.
Interfor is expecting production disruptions at its British Columbia Interior, Canada, sawmills during the 3Q 2021 due to the ongoing impacts of wildfires and other factors on log supply.
Platinum Equity announced that it has completed the acquisition of McGraw Hill, a global leader in educational content and digital platforms, for a purchase price of approximately $4.5 billion.
MM strengthens its position in virgin-fiber based cartonboard and innovative barrier cartonboard solutions for plastic replacement.
"It will be the world's most advanced, environmentally-friendly 100% recycled paper mill," said company owner and executive chairman Anthony Pratt. "And it means Pratt Industries will have built 6 of the last 8 paper mills in the United States."
The company plans to acquire and install by the spring of 2022 an Engico Jumbo Flexo Folder Gluer from Haire Group that converts corrugated scored sheets into boxes.
Pratt Paper, a part of sustainable packaging company Pratt Industries, is planning to invest $400 million in a paper mill in Henderson, Gov. Andy Beshear announced Thursday -- resulting in 320 high-paying full-time jobs.
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