Neenah Renews Share Repurchase Plan

Mondi plc (Mondi), a global leader in the production of sustainable packaging and paper, has completed the acquisition of Hinton Pulp mill in Alberta, Canada, from West Fraser Timber Co. Ltd (West Fraser) for a total consideration of USD 5 million. The mill has the capacity to produce around 250,000 tonnes of pulp per annum and will provide the Group with access to local, high-quality fibre from a well-established wood basket as part of a long-term partnership with West Fraser. Mondi intends to invest in the mill to improve productivity and sustainability performance and, subject to pre-engineering and permitting, invest in expanding the facility primarily with a new kraft paper machine which will integrate its paper bag operations in the Americas to support future growth.

Conciliator Leo Suomaa has submitted a proposal for UPM Biofuels in the collective labour negotiations with the Paperworkers’ Union. The conciliator has asked the parties to state their position on the proposal by 14 April 2022 at 10:00 EEST, which is also the deadline for the settlement proposals for UPM Pulp, UPM Specialty Papers and UPM Raflatac, given earlier by the conciliator. The conciliation for UPM Communication Papers was interrupted last weekend. "Settlement proposals have now been given to four out of five UPM businesses aiming at collective labour agreements. More than half of UPM’s employees affiliated with the Paperworkers’ Union are now covered by settlement proposals", says Jyrki Hollmén, Vice President, Labour Markets at UPM.

The business, a producer of coated woodfree fine papers and packaging board based in Lenningen, initiated insolvency proceedings yesterday (30 January) at the local court of Esslingen. The 340-staff company,…