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The transaction is expected to close in the second quarter of 2022.
With the acquisition, Nordic Paper strengthens its presence in North America, the largest greaseproof paper market in the world. The preliminary purchase price for Glassine Canada Inc. on a cash and debt free basis is between CAD 81m and 92m (SEK 574-652m).
When Anthony Pratt came across the world to Henderson to break ground Thursday for the big Pratt Paper recycling mill and box plant it will build here, he brought some million-dollar surprises.
KP Tissue Inc. and Kruger Products L.P. announced KPLP's plan to add to the capacity of its Sherbrooke expansion project by constructing a double width Light Dry Crepe (LDC) tissue machine with a capacity of at least 60,000 MT instead of the previously announced 30,000 MT LDC tissue machine.
Georgia-Pacific Corp. announced that will add a new paper machine, converting equipment and 150 new jobs at the mill.
Canfor Corporation is announcing that it has entered into an agreement with Millar Western Forest Products Ltd. to acquire the company's solid wood operations and associated tenure for $420 million, including $56 million in working capital.
Warehouse workers at Veritiv, represented by Teamsters 117, have voted unanimously to authorize a strike. The strike authorization vote was taken by employees at the packaging giant's facility in Kent, WA and comes after three months of unsuccessful contract negotiations and a number of COVID-related health and safety concerns raised by workers.
Resolute Forest Products Inc. announced the indefinite idling of pulp and paper operations at its Calhoun (Tennessee) mill. Tissue manufacturing and converting will continue at the site and the adjacent distribution center will remain in full operation. The company anticipates that the decision will directly affect 350 hourly and salaried positions at the Calhoun mill.
International Paper will build a state-of-the-art corrugated packaging plant in Atglen, Pennsylvania. The facility will employ approximately 150 team members.
Pratt last summer said it will first construct a state-of-the-art, 450,000-square-foot paper mill that will manufacture 100% recycled products and will employ approximately 120 people. At the time, the company said construction of the mill would begin in March 2022 and be completed by fall 2023.
UPM is investing EUR 10 million in the development of UPM Plywood's plywood mill in Joensuu.
R.R. Donnelley & Sons Company (RRD) Tuesday said it has agreed to be acquired by affiliates of Chatham Asset Management, LLC, a private investment firm, in an all-cash transaction with a total enterprise value of around $2.3 billion and total equity value of about $897 million. The company said it has terminated its previously announced merger deal with affiliates of Atlas Holdings LLC.
Net proceeds from the transaction will be used to reduce Company debt.
The Finnish Paperworkers' Union has issued a strike announcement to UPM, declaring a strike to all work under the expiring paper industry collective agreement at UPM.
Cariboo Pulp and Paper was shut down for 16 days on November 29th, and Quesnel River Pulp was down to one third capacity for two weeks.
Through a collaboration with Weyerhaeuser, Apex Clean Energy will leverage timberland to develop 1 GW of new solar and solar-plus-storage capacity.
UPM's investment strengthens the mill's competitiveness by improving the mill's security of supply and ensuring the high quality of demanding products.
According to a report by Arizton, an advisory firm providing comprehensive market intelligence reports and advisory and consulting services, the demand for the medical face masks was high as the impact of Covid-19 pandemic continued to expand.
The fire originated from a machine designed to heat and put wax to cardboard boxes before it spread and became a three-alarm fire, investigators determined.
Kimberly-Clark's project breaks down as $50 million for an expansion of the facility and $60 million for new tissue equipment.
Calls on Board to Declare Chatham's Offer Superior and Proceed to Signing by End of Day on December 13.
The environmental assessment process is officially underway for Northern Pulp's estimated $350-million plan to reopen its idled kraft pulp mill in Nova Scotia's Pictou County.
Brazilian pulpmaker Klabin SA KLBN11.SA announced on Wednesday it will invest 4.7 billion reais ($836.72 million) in 2022, of which 2.75 billion reais are expected to go to the development of its Puma 2 project.
The $7.5 million investment saw the implementation of a wastewater treatment plant with state-of-the-art anaerobic technology, which reduces water intake from the nearby Magdalena River and improves the quality of water returned to it.
CMPC says it will purchase the forest and industrial assets of the pulp, paper and sack businesses of Iguaçu Celulose, Papel S.A., located in the States of Paraná and Santa Catarina of Brazil.
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