Appleton Coated Announces Price Increase on Ethos Products
Effective with shipments on or after October 13, 2017, Appleton Coated will be increasing prices on Ethos Uncoated Offset, Ethos Uncoated Offset 30% PCRF and Ethos Uncoated Offset 100% PCRF by 4 to 6%.
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Norske Skog: Update on the recapitalization process
Norske Skog has extended the deadline for the current exchange offers and consent solicitations to 23 August 2017. The existing short-term standstill agreements has also been extended to 23 August 2017, to allow for additional time to conclude the ongoing stakeholder discussions and finalisation of applicable documentation. The group has received a commitment letter for a EUR 16 million liquidity facility from the majority holders of the SSN (EUR 290m, 2019) bond and the NSF (EUR 100m, 2020) loan. Norske Skog plans to launch a revised recapitalization proposal with support from the majority holders of the SSN bond and the NSF loan early next week. The liquidity facility will allow Norske Skog to meet its operational cash flow needs. "We are very pleased that key stakeholders are supporting the business operations of the group through a committed liquidity facility. Our paper mills are highly competitive businesses with a prosperous future irrespective of the final solution to the group's capital structure." said Lars P.S. Sperre, President and CEO of Norske Skog. Click Read More below for additional detail.
Paper Excellence receives $4.5 million in funding from the Investments in Forest Industry Transformation (IFIT) program
Paper Excellence is pleased to have received $4.5 million from the Investments in Forest Industry Transformation (IFIT) program. This funding will help support an important transformation project taking place at our Catalyst Port Alberni mill. The $4.5 million will be invested at Catalyst Port Alberni to expand the mill’s production capacity for food packaging papers. Traditionally, this mill produced printing and writing grades; however, demand for these products has been in steady decline. Transitioning to food grade papers means meeting growing market demand, providing sustainable alternatives to single-use plastic serving containers, and advancing BC’s circular economy. The new grades will be produced using unique pulping capabilities developed at the Catalyst Port Alberni mill that net a higher yield in fiber use. As a result, the mill will be able to increase the amount of food packaging materials it produces but will use less residual wood fibre to do so.