Further to Canfor Corporation’s (TSX:CFP) announcement on June 17, 2020, its 70%- owned subsidiary, Vida Group, has today completed the purchase of three sawmills located in Sweden from Bergs Timber.
https://www.canfor.com/docs/default-source/news-2020/canfor-subsidiary-closes-bergs-acquisition.pdf?sfvrsn=330fee91_2
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Metsä Group has established a new innovation company, Metsä Spring Ltd. The company will, together with partner organisations, invest in new endeavours with the target to identify and develop new business opportunities in sustainable forest-based bioeconomy and circular economy. Niklas von Weymarn has been appointed CEO of the company. He transfers to Metsä Spring from the position of VP, Research in Metsä Fibre, also part of Metsä Group. The office of Metsä Spring is in the heart of the internationally-acknowledged Otaniemi innovation campus in Espoo, Finland. The establishment of the new innovation company does not affect the current research and development activities of Metsä Group’s current business areas. ”With the establishment of Metsä Spring, we want to create a new dimension to Metsä Group’s innovation activities and thereby participate more actively in the development of new business concepts in forest-based bioeconomy and circular economy. A large share of new ideas are generated outside our company and the new business concepts are increasingly developed in novel partnerships. The new innovation company enables Metsä Group to better take part in this activity,” says Metsä Group’s President and CEO and Metsä Spring’s Chairman of the Board Ilkka Hämälä. Click Read More below for additional information.
Preem and RenFuel are assessing, in collaboration with Rottneros, the construction of the world’s first lignin plant for biofuels, at the pulp mill in Vallvik, Söderhamn. The plant is expected to produce an annual volume of 25,000-30,000 tonnes of lignin, and will be completed in 2021. The collaboration between the companies means that Preem will be the first fuel manufacturer in Sweden to use lignin in its production. Via the company Lignolproduktion AB, which is jointly owned by Preem and RenFuel, the aim is to reach a total annual production capacity of 300,000-500,000 tonnes of lignin, based on the assumption that more plants similar to that in Vallvik are established in the future. Click Read More below for additional information.
UPM and the Paperworkers’ Union have not been able to come to new collective labour agreements. Today, the union turned down four settlement proposals submitted by the conciliator. The exceptionally long strike at UPM Pulp, UPM Communication Papers, UPM Specialty Papers, UPM Raflatac and UPM Biofuels units in Finland continues. “We are deeply disappointed in the decision of the union and in the continuation of the strike that has already lasted 3,5 months. UPM has been negotiating with an earnest mind and made several compromises. We also accepted the conciliation proposals. Modernising the agreement stemming from 1940’s would be important both for the employees and the company,” says Jyrki Hollmén, Vice President, Labour Markets at UPM. “It is very disappointing that after intensive negotiations, no business was able to reach a conclusion. Petri Vanhala, chairman of the Paperworkers’ Union, confirmed in the mediation of all businesses that each business can be agreed separately. The mediation found settlement proposals for four businesses that took the needs and wishes of both parties into account. We were confident that both parties undertook to accept these settlement proposals and industrial peace would resume. Now that the union has turned down the once drafted proposals, our businesses will make a fresh start," Hollmén continues.