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Italian tissue manufacturer EuroVast fired up a new Modulo-Plus tissue machine supplied by Toscotec at its Cartiera della Basilica paper mill in Villa Basilica, Lucca, Italy. PM5 is running efficiently at the speed of 1,600 m/min and since its start-up in February, it has exceeded the project’s production targets with excellent results in energy consumption. The new line completely replaced the mill’s existing PM5, a suction breast roll machine. The sheet width is 2,770 mm and the production capacity is over 30,000 tpy. It is equipped with a single press TT BlindDrilledPressRoll, a TT SYD and gas-fired TT Hoods. PM5 produces toilet tissue, kitchen towels and napkins from 100% pre-dried virgin pulp. EuroVast also purchased a complete service package including dismantling operations, erection, training, commissioning, and start-up assistance.
Rayonier Advanced Materials Inc. announced that it has sold 28,684,433 common shares of GreenFirst Forest Products Inc. to a wholly-owned subsidiary of Interfor Corporation for approximately $43.3 million. The agreement contains a Purchase Price Protection clause whereby the Company is entitled to participate in further stock price appreciation under certain circumstances and for a specified period. Consistent with prior communications, the Company expects to use cash proceeds from this transaction to opportunistically repay debt or assist with a holistic refinancing of its capital structure, including its Senior Notes due on June 1, 2024.
As part of Sappi’s global long term commitment to sustainability and the focus it has on climate action a decision has been reached to invest in a complete modernisation of boiler 11 at the Sappi Europe Gratkorn production site. This investment into state-of-the-art technology will see a shift from a coal boiler to a multi fuel boiler in two phases with the goal to finally use only sustainable and renewable fuels. “The rebuild is an important investment in our sustainable pulp and paper production and a further important contribution to climate protection. It allows Gratkorn mill to reduce its CO2 emissions by 30 % and is a big commitment to boosting the decarbonisation of our sector”, says Berry Wiersum, CEO Sappi Europe. This investment is part of an overall larger scale decarbonisation strategy for Sappi Europe, which in the near term seeks to deliver a 25% specific greenhouse gas reduction by 2025.