Verso Corporation announced that it has completed the sale of its Androscoggin Mill, located in Jay, Maine, and its Stevens Point Mill, located in Stevens Point, Wisconsin, to Pixelle Specialty Solutions LLC. "We are pleased to have completed the sale of our Androscoggin and Stevens Point mills to Pixelle," said Verso Chief Executive Officer Adam St. John. "After the transaction, we will continue to be a debt-free company with significant manufacturing and financial flexibility, well positioned to enhance our competitive market position, effectively respond to industry trends and take advantage of low-risk, high-return opportunities that should create long-term value for all of our stakeholders."
This is to inform you that the strike started by Finnish paper workers’ union on 27 January has been announced to end. Agreement between the parties has been reached on 10 February. The strike has suspended production at all Finnish paper, paperboard and pulp mills.
International technology group ANDRITZ was selected by UPM, headquartered in Helsinki, Finland, to supply energy-efficient and environmentally leading equipment and processes for all main process islands in fiber production and chemical recovery for their new pulp mill to be built near Paso de los Toros in central Uruguay. This world-class eucalyptus pulp mill will have an annual production capacity of 2.1 million tonnes and is scheduled for start-up in the second half of 2022.
Koehler Paper Group, a leading global producer of high-quality specialty paper, is pleased to announce the acquisition of Beaver Paper & Graphic Media, Inc., the leading manufacturer of sublimation media to the dye-sublimation and digital print industry. In 2016, Koehler Paper Group acquired a minority interest in Beaver Paper and simultaneously entered into a shareholders agreement, leading to this final acquisition. Since its inception 40 years ago, Beaver Paper has evolved into a global company highly regarded for its innovative, high-quality sublimation media. Its products can be found in over 51 countries worldwide and are carried by distributors and direct sales out of its Atlanta, Georgia headquarters and distribution facilities in Los Angeles, California, Willstätt, DE and Zaandam, NL.
Decreasing profitability combined with further cost increases makes a 5-8% price increase in Sappi’s Export markets unavoidable. This increase affects WFC and WFU sheets and reels and is valid with immediate effect. Your local sales office representative will contact you with further market related details.
Metsä Board, the leading European producer of premium paperboards and part of Metsä Group, is pleased to announce that the food safety procedures at its Kemi mill have recently been certified according to the FSSC 22000 food safety standard. The certification demonstrates that Metsä Board’s mill organisation comprehensively ensures its products are safe for demanding end-uses, such as direct contact with food. As the leading European producer of fresh fibre paperboard, Metsä Board wants to ensure that it operates according to the same standards as its customers in the food industry. All Metsä Board mills already have an ISO 22000 food safety system in place, and Metsä Board’s Simpele, Kyro, Äänekoski, Husum and Kemi mills now have the additional FSSC 22000 accreditation.
“Our results in the paper business fell short of our expectations. Shipments remained weak in the quarter due to seasonally slower demand and some customer destocking. As a result, we increased market-related downtime to better balance our supply with our customer demand and reduce our inventory to more optimal levels,” said John D. Williams, President and Chief Executive Officer. Operating loss was $15 million in the fourth quarter of 2019 compared to operating income of $29 million in the third quarter of 2019. Depreciation and amortization totaled $74 million in the fourth quarter of 2019. Operating income before items1 was $4 million in the fourth quarter of 2019 compared to an operating income before items1 of $73 million in the third quarter of 2019. The operating loss in the fourth quarter of 2019 was the result of lower average selling prices and unfavorable productivity in pulp and paper, higher selling, general and administrative expenses, and higher maintenance, freight and raw material costs.
Interfor Corporation recorded a net loss of $103.8 million, or $1.54 per share, in 2019, compared to net earnings of $111.1 million, or $1.59 per share in 2018. Adjusted EBITDA was $63.4 million on sales of $1.9 billion. Interfor recorded a net loss in Q4’19 of $41.7 million, or $0.62 per share, compared to $35.6 million, or $0.53 per share in Q3’19 and $13.5 million, or $0.20 per share in Q4’18. Adjusted net loss in Q4’19 was $17.4 million compared to $11.8 million in Q3’19 and $20.2 million in Q4’18. Adjusted EBITDA was $17.6 million on sales of $456.8 million in Q4’19 versus $16.8 million on sales of $486.5 million in Q3’19.
Sappi North America, Inc., announced the launch of Verticals: Fashion Marketing, the second installment of the company's educational series for marketers, ahead of New York Fashion Week. The new guide focuses on the fashion industry and highlights successful marketing and promotional approaches used by leading brands. Sappi's Verticals series dives into individual markets serviced by the company while examining the unique challenges, traditions and idiosyncrasies each faces when communicating with target audiences. Sappi tackled The Marketing of Higher Education in the first part of the series, and now is taking a close look at the world of fashion.
Astrolite PC 100 Velvet C2S is a new line of fine printing papers from Monadnock Paper Mills - it's the missing link between 'green' and luxury. Velvet is coated on both sides and made with 100% post-consumer waste recycled fiber. It is the only premium coated 100% recycled sheet made in America. • Optimized for conventional and UV offset lithography, dry toner and HP Indigo presses. • Available in a range of basis weights from 80 lb. text to 150 lb. cover