Sonoco announced an agreement to repurchase $150 million of its outstanding common shares in an accelerated share repurchase ("ASR") transaction with Wells Fargo Bank, N.A., using available cash on hand.
Sustainable packaging leader DS Smith, bolstering its commitment to accelerate its work in the circular economy, announced today a $140 million investment in research and development, including developing new materials to replace plastics and a testing program to strengthen corrugated cardboard and reduce G-force shock in home delivery packaging.
West Fraser plans to invest roughly US$150 million at five of its U.S. South lumber mills under its strategic capital program. Already, it's increasing the number of working shifts at mills where possible, the company said.
Drax Group will begin constructing the first of three new "satellite" pellet plants in Arkansas. The plants are together expected to produce around 120,000 metric tons of sustainable biomass pellets a year from sawmill residues, supporting the renewable energy company's plans to increase self-supply to its power station in the UK.
DS Smith, the FTSE 100 sustainable packaging company, today announced a £100m R&D and innovation package to accelerate its work in the Circular Economy. The new investment over five years includes the creation of a new breakthrough technologies hub in the UK, new materials development to replace plastics and a pilot to gauge G-force shock in home delivery packaging.
Ahlstrom-Munksjö will invest EUR 58 million in a new glass fiber tissue production line in the U.S. to support the flooring industry in North America. The investment will further strengthen the company's position as a leading global supplier of high performance materials. The new line will produce a full range of glass fiber tissue nonwovens with a main focus on Luxury Vinyl Tiles and Vinyl sheet materials. Customer deliveries from the new line are expected to start in mid-2023.
The Occupational Safety and Health Administration issued Pixelle Specialty Solutions a hazard alert letter on Jan. 5 but did not fine the company in relation to a digester explosion on April 2020 because no OSHA standard applies.
On Tuesday sections of the historic Whiting Paper Mill building in Menasha started to be demolished. But city leaders say the potential changes coming to the lakefront property could benefit the community.
Twin Rivers Paper Company's Edmundston pulp mill recently completed a biomass cogeneration unit maintenance shutdown; a project which began in the middle of April. In planning for more than a year, the project was designed to maintain and refurbish the co-generation unit to ensure green power continues to flow to the grid uninterrupted.
Skookumchuck Pulp has recently received three different administrative monetary penalties (AMPs) from the BC Ministry of Environment and Climate Change Strategy for non-compliance events that occurred between 2017 and 2020. Skookumchuck Pulp's performance has not changed significantly over the last two years; however, all the AMPs the mill has received in its 53-year history have occurred in the last two years.
Rayonier Advanced Materials Inc. announced a strategic investment in Anomera Inc. Anomera produces the highest quality Cellulose Nanocrystals (CNC) in the world under the brand names DextraCel™, ChromaPur™ and ChromAllur™.
Pixelle Specialty Solutions and related companies claim that on April 15, 2020 a digester ruptured at the Androscoggin Mill as a result of failed welds, holding Trico Mechanical Contractors, Inc. responsible.