In August, Phoenix Paper finished a 5M recommissioning project for our Pulp Dryer. The addition of the Pulp Dryer will allow Phoenix Paper to more efficiently operate the back end of the mill, as well as add a secondary product of baled pulp. The project was complex, upgrading former equipment and raising the roof of the building to accommodate the newer standard size of rail cars. The project was completed on time, on budget, with zero injuries. Congratulations to the entire team and our contractors for a job well done!
Solenis, a leading global producer of specialty chemicals, closed on the acquisition of 100% of the outstanding shares of SCL GmbH (“SCL”) on January 18, 2022.
Located in Ludwigshafen, Germany, SCL produces DMA3, a primary raw material for cationic polyacrylamide production. The acquisition of the SCL business helps Solenis fulfill a strategic insourcing objective and supports Solenis’ polyacrylamide strategic global growth plan.
“The acquisition of this business provides Solenis with the backward integration that supports our polyacrylamide growth plan and better enables us to provide strategic products to our customers around the world,” said John Panichella, CEO, Solenis. “This is our first bolt-on acquisition following our recent ownership change to Platinum Equity. The support by the Platinum team for our strategic growth plan has been excellent, and I am confident that our partnership will yield more of these projects in the future.”