Domtar Corporation announced that it has entered into an agreement with Sun Life to purchase group annuity buy-out contracts and to transfer approximately CDN $360 million (US $271 million) in obligations and related assets from its defined benefit pension plans in Ontario, Canada. In addition, Domtar will convert approximately CDN $101 million (US $76 million) of existing buy-in annuities with existing insurers into buy-out annuities to complete the full transfer of these obligations. No cash contributions will be required by Domtar. The transactions will enable Domtar to reduce risk associated with volatility in the Company’s pension plan obligations and assets.
"Over the past 30 years, the Influence® brand has gained a solid reputation with printers because of its consistent quality and unparalleled pressroom performance, printability and runnability," said Verso President Mike Weinhold. "This reputation is largely due to the dedicated and proud Verso workforce that takes personal ownership in making and delivering a high quality product to our customers." Influence® is designed to perform on web offset or rotogravure printing presses, is available in a variety of basis weights and finishes, and offered with chain-of-custody certification and recycled content. It is ideally suited for printing applications including publication covers, catalogs, magazines, brochures, direct mail and custom publishing that is targeted to a particular audience or type of consumer.
Appvion has announced a new line of converting papers, DuraWorx™. The DuraWorx brand was designed to deliver exceptional runnability and print quality. DuraWorx papers are available in white wove, forms bond, tablet and tag and ledger products. These products are ideal for envelopes, continuous forms, billing statements and more. “DuraWorx has been engineered to exceed even the most stringent converting requirements,” says David Pauly, Appvion’s Vice President of the Carbonless and Specialty Paper division. “The products are an ideal fit for our fully integrated hardwood pulp and paper machines, leveraging our long history of specialty paper making in order to provide a consistent, high-performing sheet,” Pauly added.
Our Windsor Mill has been a fixture in the town for 155 years, marking more than a century and a half of pulp and paper manufacturing as well as a longstanding partnership with the community of Windsor. The mill was established in 1864; Canada didn’t become a unified country until 1867, making the mill three years older than the country in which it operates. Co. in 1864 and went through a few different owners before Dominion Tar — later known as Domtar — acquired the mill in 1961. In the 1980s, the mill underwent a large $1.2 billion expansion and renovation project, which resulted in a newly-constructed state-of-the-art mill for pulp and paper manufacturing. The old mill was eventually demolished. Today, Windsor Mill produces bleached hardwood wet-lap market pulp and uncoated freesheet paper, and it manages 400,000 acres of forestland in the region surrounding the mill, all certified to Forest Stewardship Council®, Sustainable Forestry Initiative® and ISO 14001 standards.
1. Align health and wellness with safety and sustainability. Sustainability isn’t just about protecting our natural resources; it’s also, literally, how we sustain strong performance. A healthy and experienced workforce contributes to economic and environmental sustainability. 2. Bring internal investment to safety and sustainability. Sustainability, like safety, does not operate in a silo. Leaders in both areas must cultivate the belief that everyone in the company is responsible for sustainability and our safety culture, Goff says. 3. Communicate clearly and encourage accountability. Sharing our sustainability story includes talking about our safety culture. In our 2019 Sustainability Report, we highlighted key statistics about our safety performance and our journey toward meeting our safety goal, which ranks among our top priorities. 4. Celebrate sustainability and our safety culture to recruit and retain employees. Millennials and younger employees care about environmental issues and want more holistic health benefits. Communicating about our sustainability initiatives, our safety culture and our focus on wellness will benefit us in both recruiting the next generation of employees and retaining our valuable workforce.
“We have used a tremendous amount of time, resources and independent scientific expertise to prepare the Focus Report on our proposed wastewater treatment facility’, states Brian Baarda, Paper Excellence CEO. “We remain confident that we have submitted an appropriate report reflecting the new world-class treatment facility which will protect the environment, will have no meaningful environmental impact, and will represent a significant operational improvement beyond the current treatment and shoreline discharge.” It is disappointing that some federal government responses to our report have been unofficially released. This action is irresponsible, fetters due process, and unnecessarily creates anxiety amongst the thousands of Nova Scotian families who are employed in its Forestry industry.
In 3Q2019, the net sales of Coated Woodfree were €143 million vs €180 million in 3Q2018, a decrease of €37 million or -20%. The Ebitda at €4 million was lower than in 3Q2018 (€8 million). This decrease was mainly due to a reduction in sales volume and an increase in distribution costs, partly offset by an increase of net sales price and reductions in variable production costs and fixed expenses. In 3Q2019, the net sales of Specialties were €114 million vs €122 million in 3Q2018, a decrease of €8 million or -7%. The Ebitda at €8 million was lower than in 3Q2018 (€17 million). This decrease was mainly due to reductions in sales volume and net sales price, an increase in variable production costs, partly offset by decreases in distribution costs and fixed expenses. For the third quarter ended 30 September 2019, Lecta had revenue of €316.5 million versus €366.7 million in the third quarter ended 30 September 2018, a decrease of €50.1 million or -13.7%. EBITDA decreased by €12.3 million, or -47%, from €26.2 million in 3Q2018 to €13.9 million in 3Q2019. This decrease was the result of lower sales of paper in volume, higher outsourcing, and overhead costs, partly offset by lower net energy cost, costs of packaging, distribution, selling variable, labor, maintenance, and production consumables, in a context of higher unit gross margin.
Smurfit Kappa has launched a new range of imaginative and eco-friendly toys that are made completely from paper. With consumers trying to make more sustainable choices in every aspect of their lives – including what they put into their children’s toy boxes - Smurfit Kappa explored how it could apply its expertise in design and paper to offer a solution. The ekolife range provides shoppers with a sustainable alternative to the vast amounts of non-recyclable toys that flood the shops every year. The beautifully designed and durable toys include planes, cars, jigsaws, build-your-own shops and castles. The ekolife range also includes canvases that can be coloured in by their new owners to get their creative juices flowing.
Ahlstrom-Munksjö has signed a non-binding letter of intent with the majority shareholders of Hebei Minglian New Materials Technology Co., Ltd. to acquire the company, comprising a state-of-the-art greenfield decor paper plant in the city of Xingtai, Hebei Province, China. The debt free purchase price is approximately EUR 60 million. The letter of intent contains customary exclusivity undertakings on the part of the sellers with respect to the considered transaction. The transaction is subject to further due diligence and final and binding transaction agreements, and it is expected to be completed during the first quarter of 2020. By combining Minglian with its existing Decor business, Ahlstrom-Munksjö would have a strong presence in the world’s two largest decor paper markets and improved cost competitiveness.
Neenah, Inc. announced that on November 21, 2019, its Board of Directors approved a four percent increase in the cash dividend on the Company's common stock. The quarterly dividend will increase from $0.45 per share to $0.47 with the first payment at the new rate in March 2020. Neenah has consistently paid a dividend every quarter since the Company was first incorporated in 2004. In addition, the Company announced authorization of a 2020 share repurchase plan for up to $25 million of its outstanding common stock. The current share repurchase plan will remain in effect through December 31, 2019. Purchases by the Company under the program would be made from time to time in the open market or in privately negotiated transactions in accordance with the requirements of applicable law. The timing and amount of any purchases will depend on share price, market conditions and other factors. The program does not require the Company to purchase any specific number of shares and may be suspended or discontinued at any time.