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The Russian authorities have not approved the sale of Mondi's Syktyvkar mill in the Komi Republic, Russia. Possible reason is too high transaction price.
Due to higher-than-expected major maintenance related costs at the company's Lewiston, Idaho mill, and other operational issues, the company now expects adjusted EBITDA for the fourth quarter of 2022 to be in the range of $28M-$34M and full year 2022 adjusted EBITDA of $227M-$233M.
Canfor Pulp Products Inc. is announcing the immediate curtailment of its Intercontinental Pulp Mill, which is expected to be in place for four weeks. The curtailment is due to the lack of available economic fibre as a result of sawmill curtailments. The downtime will remove approximately 24,000 tonnes of market kraft pulp.
One driver allegedly pointed a shotgun at another driver.
The Mayr-Melnhof Group has sold its two packaging sites in Russia, St. Petersburg and Pskov, to the local investor Granelle following approval by the governmental authorities. The selling price amounts to approx. Euro 134 million.
Stora Enso has initiated a sales process for a possible divestment of its consumer board production site in Beihai, China. The divestment would also include the Group's forestry operations in the surrounding region, which supply raw material to the Beihai site. The sales process supports Stora Enso's strategy to focus on long-term profitable growth within the areas of renewable packaging, building solutions and biomaterials innovations.
The cash transaction of $300 million, subject to final closing adjustments, was funded through the Company's existing credit facility.
Company to expand its existing facility to have an installed capacity of 135,0000 tonnes.
Port Townsend Paper Corporation has been fined $56,250 for exceeding an air quality limit at its Port Townsend mill, the Washington Department of Ecology announced Wednesday.
Mondi plc said on Thursday it will sell three of its Russian packaging converting operations to Moscow-based Gotek Group for 1.6 billion roubles ($24.9 million).
Boise Cascade's Building Materials Distribution (BMD) division announced the expansion of its distribution capacity in two markets.
Sylvamo, known as the world's paper company, showed off its new worldwide headquarters in East Memphis on Wednesday.
The current upgrade and modernisation project will focus on Paper Machine 11 (PM11), which will undergo extensive modernisation of automation and electrical equipment including drives, control systems, quality control and inspection systems as well as upgrades to the coating profile and other areas.
Billerud, a Swedish paper and pulp manufacturer, is eyeing the Escanaba Mill to upgrade from producing paper to making an advanced paper product known as paperboard or cartonboard.
In the first step, a new silicone coater will be installed at the Pulaski, New York site in mid-2023. The second step is the expansion of the paper machine capacity in Drummondville, Canada, from currently 32,000 tons to over 40,000 tons per year.
A firefighter was transported to Jefferson Healthcare for exhaustion-related symptoms from fighting a fire Tuesday morning at the Port Townsend Paper Mill.
Helen Mets is appointed President and CEO of Ahlstrom, effective January 1, 2023. With the company entering the next phase of growth and transformation, Helen will succeed current President and CEO Hans Sohlström, who has contributed greatly to Ahlstrom's success since 2016. Hans will leave Ahlstrom at the end of December to pursue new opportunities outside the company.
Property, personal injury settlements to be catalyst for rebuild of Weed, Ca., communities.
Stora Enso is investing Euro 38 million in unbleached kraft pulp (UKP) production at its Enocell site in Finland and Euro 42 million in fluff pulp production improvement at its Skutskär site in Sweden. These investments will support the growing consumer demand for non-bleached renewable packaging materials and hygiene products respectively.
Georgia-Pacific's $425 million investment is the largest single investment in the history of Jackson.
UPM has agreed to sell the Renforsin Ranta business park in Kajaani to Kansallisholding Oy. The site will be operated by Redeve Oy, the parent company of Kansallisholding, specialising in the ownership and development of industrial real estate.
PT. Riau Andalan Pulp and Paper ("PT. RAPP"), the operating arm of the leading sustainable fibre and product producer Asia Pacific Resources International Limited ("APRIL"), a member of the Singapore-headquartered Royal Golden Eagle (RGE) group of companies founded by Sukanto Tanoto, has received an award for the largest foreign investment in the Riau Province in Indonesia, for the January to September period in 2022.
Prinzhorn Group, having a strategic long term interest in Italy, has made a proposal to acquire corrugated packaging plant Scatolificio La Veggia S.p.A. ("SLV"), Roteglia, which is part of the La Veggia Group of companies in the course of a restructuring process under Italian law.
More than 85% of the 123 voting members with United Steelworkers Local 27 voted to reject a contract offer from the company and authorize a strike earlier this week.
UFP Industries announced that its affiliate, UFP Packaging, LLC, has acquired Titan Corrugated, Inc., a manufacturer of corrugated packaging products, and its affiliate All Boxed Up, LLC, a corrugated box distributor. The combined companies had trailing 12-month sales through October 2022 of approximately $46.5 million.
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