Mohawk Announces Price Increase on Envelope Products

The transaction includes the acquisition of CPG’s Carmignano and Condino Mills in Italy, its digital imaging business located in Cham, Switzerland as well as all brands and know-how. The main benefits of the acquisition include: Supports Sappi’s diversification strategy and 2020vision to grow in higher margin growth segments; Strengthens Sappi Europe’s specialities and packaging papers footprint and skills; adds 160,000 tons of speciality paper to our capacity; Increases Sappi’s relevance in specialities and packaging papers, opening up new customers and markets to Sappi’s existing products and generating economies of scale and synergies; Gaining greater share-of-wallet with valued brand owners; accelerating innovation and new product development; Improved near-term profitability and serve as platform for organic growth and further acquisitions. Will add €183 million of sales and approximately €20 million of EBITDA before taking into account synergies; Builds on the investments currently underway to increase specialities and packaging papers capacity at our Somerset, Maastricht and Alfeld Mills; Unlocks the growth potential of the CPG speciality paper business. Click Read More below for additional information.

While the merger of Domtar and Paper Excellence has been approved by the Competition Bureau of Canada, part of the approval means the Kamloops pulp mill must be sold to a third party. On May 11, 2021, Paper Excellence and Domtar, based on Montreal and Fort Mill, S.C., entered reached an agreement for Richmond-based Paper Excellence to purchase Domtar for $55.50 per share, a deal worth about $3 billion in United States currency.
The merger agreement had a provision that limited the obligation to divest assets to no greater than 410,000 dried metric tons of softwood kraft pulp. The Domtar pulp mill in kamloops has 408,000 tons of production and is the company’s only kraft pulp mill in B.C. that is part of the deal. The Competition Bureau of Canada has concluded that the merger would likely lessen competition substantially for the purchase of wood fibre — a key input in the manufacture of pulp — from the Thompson/Okanagan region.

Maine Governor Janet Mills announced an award of $1,000,000 from the final round of the Forest Recovery Initiative of her Maine Jobs & Recovery Plan to ND Paper (NDP) for an upcoming project at NDP’s Rumford Division to enhance the efficiency of its R15 packaging paper machine. “This financial support will greatly assist our efforts to increase the efficiency of our R15 paper machine and, ultimately, the long-term sustainability of the Rumford Mill,” said Ken Liu, Group Deputy Chairman and Chief Executive Officer. “With help from the State of Maine, we are able to improve critical areas on the machine that will benefit our customers and establish R15 as a leading producer of packaging papers in North America.” “The work we’re doing at our Rumford Division is a huge part of our future and our 100-year vision to thrive as a business and as a positive contributor to the communities in which we operate,” said Liu. “We would like to extend our sincere thanks to Governor Mills and the State of Maine for their support of both ND Paper and the forest products industry through this exceptional program.”