Holmen's Board has today taken the decision to construct the Blåbergsliden wind farm on its land outside Skellefteå in northern Sweden. The investment totals SEK 1.3 billion and comprises 26 wind turbines with a combined capacity of 143 MW. "For Holmen, the establishment of large-scale wind power provides a logical complement to our hydro power. It's also an effective way of obtaining added value from our forest ownership, and additional renewable electricity is positive for both Sweden and the climate," says Henrik Sjölund, Holmen President and CEO.
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.
Approximately $11.4 million will be invested in various maintenance projects including upgrading the Rumford mill's Recovery Boiler C, which involves completely replacing the 35-year-old generating bank. An additional $4.5 million in capital investments will be made in Q2 (with $1.8 million invested in Q1). The Rumford mill is exposed to significant seasonal energy cost fluctuations, and with record cold in 2015 resulting in higher than average first quarter energy costs of $3.0 million, this significant maintenance effort will maximize the overall operation and reliability of Recovery Boiler C, leading to improved energy efficiency and reduced energy costs to help mitigate future seasonal energy cost exposure.
Verso Corporation announced that it has entered into a definitive agreement to sell its Androscoggin mill, located in Jay, Maine, and its Stevens Point mill, located in Stevens Point, Wisconsin, to Pixelle Specialty Solutions LLC for $400 million, subject to post-closing adjustments. The sale, which has been unanimously approved by the Company's Board of Directors, is subject to and conditioned upon the receipt of approval from the Company's stockholders at a special meeting of stockholders, as well as certain regulatory and other customary approvals. The transaction is anticipated to be completed in the first quarter of 2020. Verso also announced that Adam St. John had been named as the Company's Chief Executive Officer and appointed as a member of the Board. Mr. St. John has been Senior Vice President of Manufacturing for all Verso mills and a long-standing member of the Senior Leadership Team.