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Nalco Water Announces Price Increase on Paper Solutions in Europe

Nalco Water, an Ecolab company, is applying price increases on solutions provided by its Paper division in Europe.

2018-11-19 
Kemira calls for tougher implementation of EU water treatment legislation

Securing a clean water supply will be one of the greatest challenges our world faces in the next century.

2018-11-19 
Valmet to supply OCC and containerboard lines for Mondi SCP Ružomberok in Slovakia

Valmet will supply Old Corrugated Container (OCC) and OptiConcept M containerboard making lines with a winder for Mondi SCP’s mill in Ružomberok, Slovakia. The start-up of PM 19 is expected towards the end of 2020.

2018-11-19 
SCA issues bonds for SEK 1 billion

On Friday the 16th of November Svenska Cellulosa Aktiebolaget SCA (publ) issued bonds under the companys Medium Term Note programme (MTN).

2018-11-19 
Metsä Board invests in a new sheeting line at its Äänekoski mill

Metsä Board, part of Metsä Group, has started construction of a new sheeting line at its Äänekoski board mill. The investment will increase the annual capacity of the sheeting plant by 35,000 tonnes to a total of 120,000 tonnes. The value of the investment is EUR 11 million. The new sheeting line will help ensure that the mill can continue to respond to increasing demand.

In addition to the new sheet cutter the investment includes additional automation to the existing sheet cutters as well as equipment for cutter reel handling and storage. The new sheeting line will be located in the existing sheeting plant and production is planned to start during September 2019.

2018-11-16 
Metsä Board invests in a capacity increase at its Kaskinen BCTMP mill

Metsä Board, part of Metsä Group, is investing in a second baling line at its Kaskinen mill. Together with process and grade changes carried out previously this investment will increase the mill’s bleached chemi-thermomechanical pulp (BCTMP) capacity and will improve product consistency and production reliability. The line will be taken into use during November–December 2018. The value of the investment is EUR 6 million.

The investment will increase the annual capacity by a further 30,000 tonnes to 370,000 tonnes and will help the mill respond to growing demand. The BCTMP produced in Kaskinen is used both for Metsä Board’s folding boxboard production as well as for market pulp. High quality BCTMP helps provide important properties for folding boxboard such as light weight.

Metsä Board Kaskinen is one of the largest and most modern BCTMP mills in the world.

2018-11-16 
Resolute Appoints Remi Lalonde as Chief Financial Officer

Resolute Forest Products Inc. today announced the appointment of Remi Lalonde as Senior Vice President and Chief Financial Officer. Mr. Lalonde succeeds Jo-Ann Longworth, who will be retiring after a distinguished career, including the past seven years as Senior Vice President and Chief Financial Officer at Resolute.

Mr. Lalonde had been serving as Vice President, Strategy and Corporate Development, since May 2018. Previously, he was General Manager of Resolute’s pulp and paper mill in Thunder Bay, Ontario. Before taking a leadership role in operations, Mr. Lalonde was Treasurer and Vice President, Investor Relations. He initially joined the company as Senior Counsel, Securities, following six years at Sullivan & Cromwell LLP in New York. Mr. Lalonde holds bachelor’s degrees in both law and civil engineering from the University of Ottawa.

"Remi has distinguished himself as a leader and built a strong record of achievement since joining Resolute almost a decade ago. He has broad-based knowledge of the company and depth of financial acumen," stated Yves Laflamme, President and Chief Executive Officer. "The promotion of Remi to this critically important role reflects well on the development of internal talent here at Resolute. As part of our Executive Team, Remi’s diversity of experience, rigorous approach and commitment to excellence will support the company’s ongoing transformation."

"On behalf of the Board of Directors and employees of Resolute, I would like to thank Jo-Ann for her years of service and valued counsel. She has played an important role in building a stronger, more profitable and sustainable Resolute," added Laflamme.

Ms. Longworth will serve as a special advisor to Mr. Lalonde until January 31, 2019.

2018-11-16 
Preliminary purchase contract for areas in the municipality of Boffalora signed today

RDM Group informs you that today it signed a preliminary purchase contract with Vetropack Italia S.r.l., whose registered office is in Trezzano sul Naviglio (MI) and which is part of the Vetropack Group, regarding only the areas owned by RDM Group, placed in the municipality of Boffalora sopra Ticino (MI).

2018-11-16 
Sappi delivers solid full year and improved fourth quarter results while completing higher margin conversion and dissolving wood pulp debottlenecking projects

Commenting on the results, Sappi Chief Executive Officer Steve Binnie said : “I am very satisfied that we have delivered results for the year in line with that of the prior year, notwithstanding the downtime related to the completion of several large strategic growth projects. These projects facilitated a further shift in the product mix of the group towards higher margin and growth segments.”

Reflecting on the 4th quarter, Binnie indicated : “We delivered increased earnings having resolved the 3rd quarter production challenges and benefited from higher graphic paper prices and stable demand across most product categories. To further build and strengthen our market leading position, during the quarter we launched the Verve brand as the umbrella brand for our DWP products, emphasising Sappi’s commitment to producing a natural fibre sourced from sustainably managed forests.”

Binnie confirmed that : “Strong market demand for dissolving wood pulp (DWP) and speciality and packaging papers ensured our production capacity in these grades was fully utilized, further supporting our decision to invest in additional capacity in these business segments. We were also able to reduce net finance costs by 15% due to lower average debt levels during the year.

I am also pleased that we have been able to declare an increased dividend of 17 US cents.”

Turning to the next quarter, Binnie stated : “Having completed the significant projects in 2018 to convert paper machines to higher margin and growing packaging grades, in addition to the debottlenecking of both Saiccor and Ngodwana Mills, we expect EBITDA in the first quarter of financial year 2019, given current exchange rates, to be comfortably higher than that of 2018.”

Financial summary for the quarter and full year

 EBITDA excluding special items
 For the quarter US$224 million (Q4 FY17 US$221 million)
 For the year US$762 million (FY17 US$785 million)
 Profit for the period
 For the quarter US$107 million (Q4 FY17 US$102 million)
 For the year US$323 million (FY17 US$338 million)
 EPS excluding special items
 For the quarter 19 US cents (Q4 FY17 19 US cents)
 For the year 60 US cents (FY17 64 US cents)
 Net debt US$1,568 million (FY17 US$1,322 million)
 Dividend of 17 US cents declared (FY17 15 US cents)

The major factors which influenced the fourth quarter’s results include :

 Dissolving wood pulp (DWP) demand and market pricing remained healthy ;
 Sales volumes were impacted by low inventory levels due to lost production volumes in the third quarter following start-up issues after mill upgrade projects ;
 Demand for specialities and packaging papers continued to grow in each region and across all major product categories. EBITDA margins were impacted by higher raw material prices and delayed price increases due to long-term contracts typical in this market ;
 The qualification process of the paperboard grades at the Somerset and Maastricht mills is underway, with positive customer response to date. This process did however negatively impact average pricing and costs for the quarter.
 The European business delivered a good result in a seasonally stronger quarter.
 The Cham integration continues to exceed expectations, with EBITDA contribution ahead of expectations after seven months.
 Higher coated paper and DWP prices and the ramp-up of sales volumes from Somerset PM1 led to an improved result for Sappi North America.
 In South Africa, an increase in Rand selling prices offset variable costs pressures. Sales volumes were in line last year.
 European and export printing and writing papers markets were stable, allowing for the implementation of coated paper price increases that have offset much of the rise in paper pulp costs. In the US, sales volumes increased in all product categories and higher graphic paper prices were achieved ;
 The potential benefits of a weaker Rand/US Dollar exchange rate in the quarter were reduced by currency hedges on DWP sales entered into earlier in the year when the exchange rate was much stronger.


The debottlenecking of Saiccor, Ngodwana and Cloquet as well as fewer production disruptions in 2019 should lead to increased DWP sales volumes to meet growing demand. DWP spot prices are forecast to remain range-bound at current levels in the coming year as VSF prices are expected to be under pressure from excess VSF capacity, while paper pulp prices which are forecast to remain at high levels should provide support.

Demand for speciality and packaging papers continues to grow, driven by increasing consumer preference for paper based packaging and legislative changes promoting recycling and the use of recyclable materials. The completion of the conversion projects at Somerset and Maastricht in the past year will allow us to increase production of paperboard grades to serve this growing market.

Industrywide conversion and closure of graphic paper machines in the US and Europe are expected to keep the markets balanced in the coming year should demand contract at similar levels to those of the past few years. Recent European data however, indicates that a potential downturn may be realised in 2019. Cost control measures will be implemented in order to support margins as we manage the price elasticity in our paper markets.

Capital expenditure in 2019 is expected to increase to US$590 million as we proceed with the Saiccor 110kt expansion having recently received initial EIA approval for the project, complete the Saiccor woodyard upgrade, convert Lanaken PM8 from coated mechanical to woodfree paper production and upgrade the Gratkorn Mill.

2018-11-16 
Essity awarded for innovation and sustainability

Essity has won the awards ‘Technical Innovation of the Year’ for Tork EasyCube® and ‘Best Practice - Sustainability’ at the 2018 European Cleaning & Hygiene Awards. The awards were announced on November 15 in Berlin.

New connectivity, customer insights and proven customer value convinced the jury to see Essity’s Tork EasyCube as an innovation that just keeps innovating. Tork EasyCube®, launched in 2014, is the world’s leading facility management software for data-driven cleaning. Sensors in facilities measuring visitor traffic and refill levels allow facility managers and cleaning teams to do exactly what’s needed, when and where it’s needed.

Using aggregated data and insights from customers, such as amusement parks, shopping malls, airports and office buildings, Essity can demonstrate 24 percent less cleaning rounds needed, 20 percent less hours spent whilst increasing the quality of cleaning and employee satisfaction. .

The company´s commitments and activities on well-being, more from less and circularity were named best in class by the jury, awarding Essity with ‘Best Practice-Sustainability’. The introduction of Tork PaperCircle™, world’s first recycling service for paper hand towels, is so far launched on parts of the European market and was mentioned as an example of leadership in circularity.

Tork PaperCircle™ enables customers to decrease their environmental footprint and work circular by collecting and recycling used paper hand towels locally into new tissue products. The result cuts the carbon footprint by 40 percent compared to current waste handling options, verified by IVL, Swedish Environmental Research Institute Ltd, where the avoided processes have been taken into account.

2018-11-16 
Kimberly-Clark Declares Quarterly Dividend and Announces Date of the 2019 Annual Shareholder Meeting

The board of directors of Kimberly-Clark Corporation  has declared a regular quarterly dividend of $1.00 per share. The dividend is payable on January 3, 2019, to stockholders of record on December 7, 2018.

This represents the 46th consecutive year that Kimberly-Clark has increased its dividend and the 84th straight year that the company has paid a dividend to shareholders.

The company also announced that it will hold its next annual shareholder meeting on May 2, 2019.

2018-11-16 
NOVI 2 Funds (Idinvest Partners) has acquired a stake in MP Hygiène (France)

In the context of a transfer operation, NOVI 2 funds (Idinvest Partners) has injected 12 M€ in the capital of the French paper manufacturer MP Hygiène. This transaction will enable MP Hygiène to become self-reliant in tissue paper production which is futher integrated into the group’s converting machines. MP Hygiène’s turnover is 80 M€. By 2020, the company should reach a 100 M€ TO with the start-up of a second paper machine in the Annonay Site.

2018-11-16 
Stora Enso appoints new Group Treasurer

Stora Enso has appointed Pasi Kyckling as SVP, Group Treasury. He will start in his new position on 1 January 2019.

Pasi Kyckling has been working for Stora Enso since 2001 in several finance positions and is currently SVP, Business Controlling and Strategy in Biomaterials division. He will be based in Helsinki and reports to Seppo Parvi, CFO & Country Manager Finland.

“I am very pleased to welcome Pasi to Group Treasury. His background and broad expertise from overall finance area brings a valued addition to our team. Pasi will have a strong role in further developing our treasury function”, says Seppo Parvi, CFO at Stora Enso.

Pasi Kyckling is succeeding Martin Ros who has taken up a new position as SVP, Intelligent Packaging at Stora Enso.

2018-11-15 
Canfor to Acquire Majority Interest in VIDA Group o f Sweden

Canfor Corporation announces that it has entered into an agreement to purchase 70% of the VIDA Group (“VIDA") of Sweden for a purchase price of 3,990 million Swedish Krona (approximately CAD$580 million) on a cash and debt free basis, which includes CAD$125 million (70%) of normalized working capital. The current owners of VIDA will retain a 30% interest and continue to manage the day-to-day business.

2018-11-15 
Security fibers used at Ahlstrom-Munksjö to assure greater product traceability

Ahlstrom-Munksjö supplies fiber-based and custom-made specialized industrial materials including a range of abrasive backings.

An increasing number of producers of coated abrasives are being confronted with the challenge of global counterfeiting. Ahlstrom-Munksjö’s solution to the counterfeit challenge within the abrasive backings industry is the use of security fibers. The technology is registered under the label BE SECURE TM.

Counterfeiting is a global problem that in recent years has been estimated to account for 2-3 per cent of world trade. The publicity for counterfeit retail consumer products may create a perception that counterfeiting only results in brand erosion and revenue losses, but counterfeit products can also be found as replacement parts or as components in different applications in many industries.

curity fibers are added to the coated abrasive backing paper to secure that it is easy for producers to identify the quality of the product and avoid counterfeits. The fibers are embedded in the backing paper during manufacturing and include both colored and fluorescent fibers.

Security fibers can be used to assure product traceability, without affecting either the mechanical or chemical characteristics of the backing paper. This limits the risk of counterfeiting and enables producers to clearly identify the requested product quality, when the material is further processed in the value chain. By using the requested quality, the users of the abrasive product can protect themselves from potential breaks or damages in the production process and potential health injuries when the product is used in industrial sanding.

“Offering our customers a solution that assures product traceability is a clear differentiating factor for us. Our Chinese customer Zibo Riken, a manufacturer of coated abrasive, chose a custom-made fluorescent fiber to be used in the products we supply them. Through this unique product specification, they were able to secure a stable product quality and were able to increases their sales volume significantly” says Daniel Qiu, Sales Manager at Ahlstrom-Munksjö.

Abrasive backings are specialty papers that are used as a substrate for abrasive products used both in industrial and do-it yourself (DIY) sanding applications ranging from grinding to super fine finishing operations. Ahlstrom-Munksjö is well positioned in this market and offers a complete range of backings, including a variety of grades tailored for each application. The abrasive business is part of Ahlstrom-Munksjö’s Industrial Solutions business area.

2018-11-15 
BillerudKorsnäs appoints CFO

BillerudKorsnäs announced today that Ivar Vatne is appointed Chief Financial Officer (CFO). Ivar will be part of BillerudKorsnäs Group Management and will take up his post by 1 June 2019 at the latest.

Ivar Vatne has more than 16 years’ experience of different roles within finance, mainly focusing on Fast-Moving Consumer Goods (FMCG) from Procter & Gamble (P&G), Fiskars and Arla. At P&G Ivar’s roles have included Group CFO for one of P&G’s divisions, with responsibility for 19 markets. For the past three years he has been employed in the Arla Group, where he has served as CFO of Arla Foods Sweden AB and then around two years as CFO of Arla UK Ltd, with net sales of around EUR 2.2 billion. Ivar has an M.Sc. of strategy and management from the Norwegian School of Economics, along with a degree in philosophy from the University of Tromsø (UiT).

“I’m convinced that Ivar’s strong commercial profile and broad experience of major investment projects, innovation-driven growth and his solid international background will make a very positive contribution to the development of the entire company and bring valuable expertise to Group management,” says Petra Einarsson, President and CEO of BillerudKorsnäs.

“I’m delighted and honoured to have been offered the role of CFO at BillerudKorsnäs. The combination of world-leading expertise and innovation with a sharp focus on sustainability mean that BillerudKorsnäs’ direction and offering are fully in keeping with the times. I greatly look forward to taking on this task and supporting the company as it continues to develop,” says Ivar Vatne.

Ivar will be part of BillerudKorsnäs’ Group management and will take up his post by 1 June 2019 at the latest. Kristina Schauman, Board member at BillerudKorsnäs, took up her post as acting CFO as of 1 November 2018.

2018-11-15 
ANDRITZ to upgrade screw presses for Metsä Board

Group ANDRITZ has received an order from Metsä Board, Finland, to upgrade two ANDRITZ screw presses at its Kaskinen mill in Finland. Start-up is scheduled for the first quarter of 2019.

ANDRITZ will upgrade two pulp screw presses so that they can be utilized as bleach presses in parallel with two existing ANDRITZ twin wire presses. The upgraded screw presses will ensure the availability of the BCTMP (bleached chemi-thermomechanical pulp) line even during maintenance work.

The scope of supply includes :
• New screw shafts equipped with modern wear protection (wear shoes and body plates)
• New low-pressure and medium-pressure screen baskets in split design ; with exchangeable, grooved screen plates
• New headboxes
• Relocation of the screw presses, including erection work and assembly with new components
• Start-up support

Metsä Board decided to place this upgrade order with ANDRITZ based on their very good experience with joint screw press projects in the past at Metsä Board’s Joutseno mill in Finland.

2018-11-15 
Pöyry hosts epic 'Carbon Clash' event in celebration of its 60th anniversary

Pöyry is today hosting an epic ’Carbon Clash’ event in the iconic Finlandia Hall, Helsinki, in celebration of its 60th anniversary. Attended by over 250 industry leaders and world-class experts, the Carbon Clash is set to ignite opinion and spark ideas for tackling climate change. The theme of the conference is ’low carbon solutions’. The big focus areas will include the decarbonisation of energy and the substitution of single-use plastics with bio-based products.
Henrik Ehrnrooth, Chairman of Pöyry PLC, comments, ’Today’s Carbon Clash is about connecting up the best brains to rigorously debate the solutions needed to urgently solve this generational challenge. Every person in the room yearns for a cleaner society for their children and grandchildren to thrive in. By working together we will forge new concepts that bring about impactful change and create a lasting legacy that we can all be proud of.’
’I am delighted that so many long-standing clients of Pöyry are able to make it, as well as globally respected climate change gurus such as Louis Blumberg, Climate Policy Consultant, San Francisco, California’ Henrik adds.
’California is implementing strategies confronting several of the same issues under discussion in the EU, including transportation, agriculture and forestry. By sharing information and experience, we can improve our planning and address the key challenge of our generation, global climate change,’ comments Louis Blumberg.
Irene Mia, Global Editorial Director of Thought Leadership at The Economist Group will be moderating the Carbon Clash. Irene comments, ’Given the urgency of the challenge, if we want to build a sustainable future, new and innovative solutions are needed, together with a joint stakeholder approach. I’m looking forward to seeing the insight and creative ideas that the Pöyry Carbon Clash event will hopefully generate.’
Two clashes : ’Electricity vs. Biofuels’ and ’Biopackaging - Beyond Plastics’
At the heart of the expert seminar event, four industry bosses will go head-to-head in two ’clashes’. They will probe the different low carbon solutions for addressing climate change.
In the first clash, titled ’Electricity vs. Biofuels’, Pekka Lundmark, President & CEO of the clean energy company Fortum will take to the stage opposite Mika Anttonen, Chairman of the Nordic fuel distributor, St1. Options for the decarbonisation of energy will be examined.
The second clash tackles the growing problem of the ’plastic planet’ and the ’plastic ocean’. Titled ’Biopackaging - Beyond plastics’, two passionate founders of the biopackaging start-ups Sulapac and Paptic, will pitch their innovative bio-based products that are designed to replace single-use plastics.

Suivi Haimi, CEO and Co-founder of Sulapac comments, ’We should make it way easier for consumers to understand what is a truly sustainable choice. I believe that materials should be divided into microplastic-free and microplastic releasing so that everybody would understand which can be digested by naturally occurring micro-organisms and which will last hundreds of years in nature. With new material innovations and improved recycling systems we still can save the world from plastic waste !’

Tuomas Mustonen, Founder and Managing Director of Paptic comments, "The generations before us filled the air with carbon dioxide, our generation should not be remembered as the one who filled the oceans with plastics !"

Clash moderator, Saara Soderberg, Head of Pöyry Management Consulting (Industry), comments, ’I am inspired by the solutions that Sulapac and Paptic are presenting in today’s Carbon Clash. The single largest end use for plastics is polyethylene used in packaging, with around 42 Mt used every year. If this could be substituted for paper and bio-based products, it would avoid approximately 250 Mt of CO2e every year, which would in turn reduce total global emissions, which currently stand at 51Gt CO2e.’

Saara continues, ’In July, Pöyry launched its pioneering Global Plastics Substitution Consultancy. I am immensely excited by how much interest we are receiving from companies around the world including several Fortune 500 multi-nationals. Our experts are creating concrete roadmaps for plastics substitution and contributing to long term sustainability.’

List of companies contributing to the Carbon Clash : Fortum, St, Sulapac, Paptic, Solved and Tracegrow.

2018-11-14 
335 Leading Corporations Remove Misleading ‘Go Green’ Claims

At the annual meeting of Two Sides’ Country Managers in London on 5th November 2018, representatives from Europe, North America, South America, South Africa, Australia and New Zealand determined to continue efforts to stop organisations making misleading, anti-print and paper messages in their customer communications.

Since its inception, Two Sides’ anti-greenwash campaign has investigated 921 organisations worldwide. Of these, over two-thirds were found to be using unsubstantiated claims regarding paper’s impact on the environment, usually in breach of local advertising regulations. After being challenged by Two Sides, 335 organisations removed or changed their messaging.

In a joint statement, Two Sides’ Country Managers stated :

“We are thrilled to be able to report the latest global anti-greenwash results. The Anti-Greenwash campaign is such an important initiative because without Two Sides’ intervention there would be no other body holding these organisations to account.

But despite the success of the campaign, as well as clear rules on unsubstantiated environmental claims, greenwash tactics are still commonplace. Every day, new claims are brought to the attention of Two Sides, from some of the world’s largest companies telling tens-of-millions of their customers that paper is bad for the environment.”

Common consumer misconceptions about print and paper are being reinforced by service providers as they increasingly encourage their customers to switch to electronic bills, statements and correspondence. The incentive to switch is often based on unfounded environmental claims such as ‘Go Green – Go Paperless’ and ‘Choose e-billing and help save a tree.’

Not only are these claims misleading, but the drive to digital is not without environmental impacts and also not welcomed by many consumers.

In a survey commissioned Two Sides, over 10,000 consumers around the globe were asked about their preferences for print. Key findings include :

 89% believe they have the right to choose how they receive communications (printed or electronically) from financial organisations and service providers
 77% believe they should not be charged more for choosing a paper bill or statement
 73% keep hard copies of important documents filed at home, as they believe this is the safest and most secure way of storing information
 69% agree to go ‘paperless’ is not really ‘paperless’ because they regularly have to print out documents at home
 62% agree incentives to switch to digital because it is ‘better for the environment’ are actually because the sender wants to save money

Two Sides’ Country Managers remark :

“Two Sides, of course, recognises the benefits of digital communication in today’s ever-online world, but we must not force change as a blanket policy on all consumers, particularly under the guise of misleading and unsubstantiated environmental claims.

Two Sides asks all services providers to take a fair and honest approach to their communications and ensure that consumers remain free to choose paper, without charge or difficulty.”

What to do if you find misleading claims

Two Sides continues to actively challenge major organisations found to be misleading consumers by using environmental claims about the use of paper. However, we need the help of our eagle-eyed supporters ! Keep your eyes peeled for other examples of Greenwash and report them to us.

Please send any instances of greenwash to greenwash@twosides.info

2018-11-13 
P&G Tackles Clean Water, Gender Equality and Plastic Waste in 2018 CSR Report

The Procter & Gamble Company  extends its long history of doing good in the world by bringing the comforts of home to those impacted by disasters, continuing to spark conversations about diversity, inclusion and gender equality with its advertising and making meaningful impact on the environment with new 2030 goals including a vision to ensure that none of the Company’s packaging ends up in the world’s oceans.

Captured in the 2018 Citizenship Report released today, P&G highlights the recent activities that define the Company as a force for good and a force for growth.

“Our aspiration is clear. We want to be a force for good and force for growth. We know that the more we integrate and build Citizenship into how we do business, the bigger the impact we can make with the people we serve, the communities where we live and work, and the broader world that surrounds us. In turn, this helps us grow and build our business,” said David Taylor, P&G’s Chairman of the Board, President and Chief Executive Officer.

The Company has made progress in all its Citizenship priority areas and the highlights from the report include :

  •  - Community Impact : This year, the Company celebrated a milestone with its Children’s Safe Drinking Water Program, distributing its 14 billionth liter of clean drinking water to those who need it most. P&G’s brands played an important role in helping those impacted by natural disasters such as the hurricanes Harvey, Irma, Maria and Florence, and our Tide Loads of Hope program washed more than 3,800 loads of laundry to help bring a sense of normalcy to those suffering the effects of natural disasters.
  •  - Diversity & Inclusion : P&G sparked important conversations around equality with two award-winning films : “The Talk” about racial bias and “The Words Matter” about LGBT+ inclusion. Its brands launched multiple advertising campaigns that include positive portrayals of diverse families and individuals. Internally, the Company introduced additional benefits to modernize employee parental leave policies as part of its Flex@Work program.
  •  - Gender Equality : As a leader in using its voice to call attention to gender equality, P&G created a thought-provoking new exhibit, “Women at Work : Myth vs. Reality,” which challenges outdated thinking about women in the workplace. It also partnered with Sesame Workshop and the Muppets to set new expectations about gender for boys and girls around the world and introduced a range of new brand advertising campaigns championing equal voice and equal representation for all individuals.
  • -  Environmental Sustainability : In April, the Company announced ambitious sustainability goals for 2030. Having already achieved many of its 2020 goals for climate, water and waste, P&G’s Ambition 2030 framework focuses on where the Company can make the biggest positive difference – with its brands, supply chain, society and employees. The Company has renewed its focus on plastic waste and many of its brands are stepping up to increase the recyclability of packaging and use more recycled material.

“For more than 180 years, the Company has been touching and improving lives. It’s who we are. It’s what we do. And it motivates us to do more and be a force for good and a force for growth in the world,” said Taylor.

2018-11-13 
Södra to acquire Bergvik Skog’s forest holding in Latvia

Södra is acquiring Bergvik Skog AB’s forest holding in Latvia. The total area is 111,100 hectares, of which 80,300 comprise forest land.

“This investment will secure some of our need for forest raw material. It will improve the structure of our wood imports by complementing our members’ wood deliveries and strengthening Södra’s competitiveness,” said Lars Idermark, President and CEO of Södra.

Södra already owns 15,000 hectares of forest land in Latvia, and this acquisition will substantially strengthen the company’s position.

“The new holding is also a good capital investment as a base for Södra’s future development, which obviously benefits our 51,000 members,” said Lena Ek, Chair of Södra.

The acquisition comprises all shares in two companies, SIA Bergvik Skog and SIA Ruda, and includes the forestry organisation with 24 employees.

“Latvia is, and will continue to be, a central import source for Södra’s raw material supply. The acquisition of new forest land will increase our opportunities for good cooperation in the Latvian market. We will also continue to follow Bergvik Skog’s direction of developing sustainable forestry with high forest management ambitions,” said Olof Hansson, President of the Södra Skog business area.

The forest soil is highly fertile and growth will increase over the coming decades. The growing stock volume is currently 10.6 million m³. The purchase consideration is EUR 324 million.

2018-11-13 
Stora Enso’s forest associate Bergvik Skog sells forestland in Latvia and increases fair values of biological assets

Bergvik Skog AB, a Swedish forest holding company, has divested its ownership in its subsidiaries in Latvia where the company owned a total of 0.1 million hectares of forest land. Stora Enso owns currently 49.8% of Bergvik Skog.

The transaction was finalised today, 13 November 2018. The selling price of the assets was EUR 324 million, and the gain on disposal net of transaction costs and taxes totalled approximately SEK 978 (EUR 95) million. Stora Enso’s share of the gain is approximately SEK 487 (EUR 47) million, subject to normal closing verification and currency movements. The gain will be booked as an item affecting comparability (IAC) in the fourth quarter 2018 results. The total area in the Latvian forest is 111 000 ha, whereof 80 000 ha is productive forest land.

The IFRS fair value of the biological assets, i.e. growing trees, of Bergvik Skog has increased, net of tax, approximately SEK 1 313 (EUR 128) million compared to 2017. This includes approximately SEK 390 (EUR 38) million for the biological assets in Latvia. Stora Enso’s share of the increase in 2018, net of tax, is approximately SEK 654 (EUR 64) million subject to normal year-end verification. Approximately SEK 148 (EUR 15) million of the increase was already reflected in Stora Enso’s January–September IFRS operating profit and SEK 506 (EUR 49) million will be included in the IFRS operating profit in the fourth quarter of 2018. The change in the fair value was due to a decrease in the discount rate, inflation, and changes in the harvesting plan and price forecast.

The gain on disposal and the increase in fair value will impact the Group’s IFRS operating profit in 2018. The IAC and fair valuation do not impact Stora Enso’s operational EBIT.

As previously announced, Stora Enso is in a process of restructuring its ownership in Bergvik Skog. The divestment of the Latvian assets is part of the restructuring plan agreed among the shareholders. As a result of the planned restructuring, Stora Enso plans to transform its current ownership of 49.8% in Bergvik Skog, to a direct holding of approximately 70% of the value of the forest assets in Bergvik Väst. The negotiations are progressing in accordance with the Letter of Intent signed in November 2017. The aim of the negotiations is to find a binding agreement leading to that the main restructuring can be finalised during the first half of 2019. There are no negative effects expected on wood sourcing in 2019.

2018-11-13 
Gardner Denver Acquires DV Systems

Gardner Denver Holdings Inc., a leading global provider of mission-critical flow control and compression equipment, announced that it has acquired DV Systems Inc., funded with cash on hand. Based in Barrie, Ontario, DV Systems is a leading manufacturer of rotary screw and piston compressors and associated aftermarket parts. DV Systems will be part of Gardner Denver’s Industrials Segment.

“DV Systems is a Canadian market-leader with a history of innovative products, strong talent and excellent customer relationships,” said Vicente Reynal, Gardner Denver’s CEO. “This transaction is aligned with our strategy of leveraging core, mission critical technologies in attractive markets to drive ongoing profitable growth.”

“We are very excited for DV Systems to be part of the Gardner Denver family,” said Bogdan Markiel, DV Systems’ CEO. “As part of Gardner Denver, DV Systems will be well-positioned to expand into new markets and expand the product portfolio that has made us a leader in the Canadian market.”

2018-11-13 
Dr. Stefan Knohl wins Blue Sky Young Research & Innovation Award

Dr. Stefan Knohl wins Blue Sky Young Research & Innovation Award for research on "Highly Filled Specialty Papers for Application in Fuel and Electrolysis Cells". Highly filled specialty papers increase the efficiency of conventional technologies and open up new avenues and advantages for the paper industry
At Paper & Beyond - the European Paper Week organised by the European Paper Industry Association (CEPI) - Dr. Stefan Knohl was presented with the award for "Highly filled specialty papers for use in fuel cells".
From a large number of applications his submission came among the best 8 and this enabled Dr. Stefan Knohl to present his topic in Brussels. Here he convinced the jury with his presentation and won one of 3 prizes.
The award research topic of "Highly Filled Specialty Papers" investigates the production of functional papers and paper-derived materials for use in fuel and electrolysis cells. Paper-derived bioelectrodes for microbial electrochemical wastewater treatment and highly porous titanium-based power distributors for PEM fuel cells are being developed.
Each highly filled paper consists of cellulose fibers and up to 90 % by weight filler. The strength and flexibility of the material is based on the formation of the fiber network, while the paper takes over the functional properties through the filler.

Another significant advantage of the highly filled flat semi-finished paper products is that they can be converted into 3-dimensional structures by conventional paper technology processes (e.g. waves, folds).
Highly filled specialty papers not only increase the efficiency of conventional technologies, but also open up new avenues and advantages for the paper industry, e.g. the emergence of new markets and applica-tions for paper-based materials.
Winning the award will give Dr. Stefan Knohl the opportunity to take part in the worldwide competition in May 2019, where he will present his topic and represent PTS.
The team of the Paper Technology Foundation congratulates Dr. Stefan Knohl on this success !

2018-11-12 
Klingele Gruppe acquires the Spanish company Ondunova

The Klingele Group, one of the leading independent manufacturers of corrugated base paper and corrugated board packaging, has acquired all of the shares of the Gomà family in the Spanish Ondunova Group, a manufacturer of corrugated packaging in Catalonia (Spain). Klingele has been a part of the company since the early 1970s ; and now Klingele has assumed full ownership. With this step, the packaging manufacturer continues its growth abroad.

The Ondunova Group was founded in 1957 and has a corrugated cardboard plant in Santa Margarida i els Monjos in the Barcelona region (Catalonia province). With approximately 100 employees in Ondunova and 20 in Wondu, the company produces packaging and displays made of corrugated cardboard. The customers include companies from the automotive, personal hygiene, construction, electronics, pharmaceutical and medical industries as well as the beverage industry. In 2016, the Spanish packaging specialist also established its own business unit for digital printing of small-volume series. Since then, Ondunova has been selling individually designed packaging solutions in high-quality printing under the WONDU brand. The flexibility of the printing and the digital cutting technology enables the design of corrugated board products for seasonal campaigns even in small quantities, thus offers the possibility of approaching new customers with innovative and cost-efficient products.

Klingele is a founding member of the Blue Box Partners Alliance, which provides European companies with innovative packaging solutions in consistent quality. At the same time, however, Klingele has always been dedicated to its own international commitments, which include the development of pioneering markets such as Cuba and Mauritania. In Spain, the corrugated cardboard specialist has been present in the Canary Islands since 1965 through its subsidiary Klingele Embalajes.

‘After decades of constructive collaboration with the Gomà family, we will now continue with the successful growth of the Ondunova Group solely under the Klingele flag,’ stated Dr Jan Klingele, Managing Partner of the Klingele Group. ‘Especially in the economically strong region of Catalonia, we see excellent opportunities for the future.’

2018-11-12 
Canfor to Acquire Elliott Sawmilling Co., Inc.

Canfor Corporation  announces it has entered into an agreement to purchase Elliott Sawmilling Co., Inc. located in Estill, South Carolina (“Elliott”) for a purchase price of US$110 million, which includes normalized working capital. 
The purchase price represents a 4.3 times EBITDA multiple based on Elliott’s twelve months trailing 
EBITDA. The transaction will be completed in two phases with 49% being acquired on closing and 51% being acquired one year later. Elliott has a production capacity in excess of 210 million board feet and the sawmill consists of bo
th large and small log lines.
“We are thrilled to welcome the employees of Elliott to the Canfor team. Elliott has an excellent management team and produces high quality products that will align well with Canfor’s high-value product mix. Nash Elliott will
continue as the General Manager after the transaction is completed,” said Don Kayne, President and Chief Executive Officer of Canfor. “The purchase of Elliott will further expand our production capacity to meet the growing demand of our customers.”
The transaction is expected to close in the first half of 2019 and is subject to confirmatory due diligence, completion of certain transaction documents and other customary closing conditions.

2018-11-12 
Ahlstrom-Munksjö: Changes in the Executive Management Team

Executive Vice President, CFO and Communications & Investor Relations Pia Aaltonen-Forsell has informed that she will leave Ahlstrom-Munksjö to take up new responsibilities outside the company. She will continue in her current role until end of February 2019.

Sakari Ahdekivi appointed Deputy CEO and CFO as of March 1, 2019

Sakari Ahdekivi, currently Deputy CEO and Executive Vice President Corporate Development, is appointed Deputy CEO and CFO as of March 1, 2019, in addition to his current role. He continues as a member of the Group Executive Team. Sakari has previously held CFO positions in publicly listed companies Ahlstrom Oyj, YIT Oyj and Huhtamäki Oyj. In addition he has acted both as CFO and Managing Director of Tamro Oy as well as interim CEO of Ahlstrom Oyj during the merger process with Munksjö Oyj.

Hans Sohlström, President and CEO : ”I want to thank Pia for her valuable contribution as CFO in an intense period of transformation and strong growth and wish her all the best in her new responsibilities. I am pleased that Sakari has agreed to take up Pia’s responsibilities in addition to his current responsibilities. Sakari’s broad experience is valuable for the company during our path of profitable growth and value creation.”

2018-11-09 
Hua-Chuan Group and A.Celli Paper for two E-WIND® P-100 rewinders

A.Celli Paper has been awarded the supply of two rewinders, establishing a new partnership with the important Chinese Group

A.Celli Paper signed an order for two E-WIND® P-100 rewinders with Yiwu Yinan Paper Co., Ltd., a wholly owned subsidiary of the Hua-Chuan Group.

The rewinders have a design speed of 2500 mpm, support a mother roll width of 6760 mm and are used in the production process of high-strength medium board paper. This type of product, having a minimum weight of 60 gsm, requires an extremely high precision control of the web tension and stability of the machine.

A.Celli Paper has distinguished itself among the various competitors, obtaining the assignment of the order and thus becoming a new partner of the important Hua-Chuan Group.

The design of the two rewinders has already been completed and production is underway. The two machines will become operational in the second half of 2019

2018-11-09 
Stora Enso’s lignin wins IChemE Innovative Product Award

LineoTM by Stora Enso, a lignin-based product launched by the renewable materials company earlier this year, has been awarded ‘Innovative Product Award 2018’ by the Institution of Chemical Engineers (IChemE).

Shortlisted alongside products from a range of companies including Dow and Johnson Matthey, the judges chose Stora Enso as the winner “for creating a new bio-based, sustainable material to replace fossil-fuels used in coatings and adhesives”. IChemE recognised LineoTM as a versatile solution made from lignin, one of the main building blocks of a tree.

LineoTM has applications in a range of areas where fossil-based materials are currently used. A renewable replacement for oil-based phenolic materials, it can be used in resins for adhesives e.g. in plywood, oriented strand board (OSB), laminated veneer lumber (LVL), paper lamination and insulation material. Stora Enso is also researching new uses for LineoTM, including formaldehyde-free binders, carbon fibre and energy storage applications.

Stora Enso has been producing lignin industrially at its Sunila Mill in Finland since 2015 and the mill has a yearly capacity of 50 000 tonnes. The company is the largest kraft lignin producer in the world.

Markus Mannström, Executive Vice President of the Stora Enso Biomaterials division, says, “LineoTM is one of Stora Enso’s key renewable solutions and we are proud that it has, once again, been recognised as an important product by top chemical industry representatives. LineoTM has many potential uses across diverse industries and promotes the optimised use of natural and bio-based resources. At Stora Enso, we continue to believe that everything made from fossil-based materials today, can be made from a tree tomorrow.”

2018-11-09 
Ahlstrom-Munksjö increases parchment paper production capacity and inaugurates a new production line in Saint-Séverin in France

Ahlstrom-Munksjö strengthens its global leading position in parchment products for sustainable everyday applications by inaugurating a new parchmentizer line at the Saint-Séverin plant in France. With the new line the company meets the growing demand for sustainable alternatives for cooking and baking, pan liners, trays and molds.

Ahlstrom-Munksjö’s genuine vegetable parchment papers are made out of 100% cellulose fibers with no chemical additives. Most of its variants are biodegradable and certified home compostable. Genuine vegetable parchment offers optimal release, greaseproof and heat resistance properties, making them ideal for cooking and baking, food packaging and processing applications in both professional and domestic use. The market for parchment products is estimated to grow by approximately 3-5% annually.

This highly attractive EUR 7 million investment, announced in June 2017, started up successfully in September 2018. Base paper for the parchmentizer line is sourced internally allowing also a more favorable product mix within the Food Packaging business, part of the Specialties business area.

“Ahlstrom-Munksjö is one of the only few players to provide a viable compostable alternative to plastics and aluminum for products like baking trays and molding materials. We are committed to Genuine Vegetable Parchment as we believe sustainable materials are our future”, says Omar Hoek, EVP of the business area Specialties.

The plant’s main products include food and beverage packaging materials and it employs 168 people. In addition to using local resources for the building of the new line, the investment will employ 28 more full time employees, a significant number in a region that has been affected by industrial desertification in the past decade.

Ahlstrom-Munksjö’s Specialties business area produces materials for food and beverage packaging, laboratory filters and life science diagnostics, water filtration, tape products and medical fabrics. It also supplies hot oil cooking and milk filtration materials, graphics paper for sticky notes and envelopes and metallized labels.

2018-11-08 
Cellwood to upgrade deinking line at Colombiana Tissue

Colombiana Tissue has awarded Cellwood with the contract to install a Krima HDS system in its Palmira, Colombia mill. The system will be installed to improve overall quality and to lower raw material costs.

Colombiana Tissue S.A.S – with a mill situated in Palmira, they manufacture and distribute a variety of products such as hygienic paper, paper towel, kitchen towel and napkins, both for institutional and personal care.

The delivery will take place in early 2019.

2018-11-08 
Pulsar Engineering Official Partner of Sofidel 3S Award

Pulsar Engineering was one of the Official Partners of the last Sofidel Suppliers Sustainability Award, with the aim of witnessing the ever-increasing focus of the company towards environmental sustainability, a long-established practice in use.

The event was held in Circleville, Ohio (USA) where is located the biggest, the most modern and sustainable plant of the Sofidel Group. The facility was inaugurated for this special occasion.

Pulsar Engineering has not only acted as partner of the event, but it actively contributed to the realization of the plant by providing its technologies for conveying systems and products’ quality inspection machines.

As for Sofidel, the same for Pulsar Engineering, sustainability has always represented a strategic lever for the development and growth of the company itself.

In this view, Pulsar Engineering has decided to promoted the campaign of the “Two Sides” association in its annual calendar, with the aim of debunk false myths concerning paper. Indeed, the use of paper in the last years has been discouraged by campaigns based on common habits without scientific support.

2018-11-08 
EUROPAC net profit grows 36%

The Board of Directors of the Europac Group has approved the accounts corresponding to the third quarter of the year, registering a net profit of 79.1 million euros, 35.8% higher than in the same period of 2017. With growth in aggregate sales of 7.6% to stand at 943.6 million euros, the consolidated and recurrent EBITDA figures rose by 27.0 % and 50.9% compared to the third quarter of last year, amounting to 150.2 and 157.0 million euros, respectively.
Additionally, consolidated EBIT over the period stood at 113.6 million euros, 45.7% higher than in the first nine months of 2017.
In a context of moderate growth of economic activity, the evolution of the results continues favoured by solid paper demand, sale price stability at high levels following the accumulated rises in the year to date and continued low prices of raw materials. These circumstances, together with higher sale prices of packaging, in line with group forecasts, turns into a consolidated EBITDA Margin of 21.1%, up 2.6 percentage points on the first nine months of 2017.
Europac Chairman José Miguel Isidro,stated that “ the company results between January and September respond to higher paper sale prices combined with lower raw material prices and the efforts made by the Packaging Division to pass on price rises of its raw material to the market.. Management projects executed in recent years as well as the integrated business model that defines Europac, allow us to optimize the results in a favourable
market context such as that experienced between January and September of this year ”.
Higher Paper and Packaging Division revenue Revenue grew in the Paper Division by 11% compared to the third quarter of last year as a result of higher sales prices than in 2017 and a 7% increase in the production output of kraftliner paper and 1% of recycled paper. Specifically, between 1 January and 30 September, the sale price of kraftliner paper rose by 43 euros per tonne and 25 euros per tonne of recycled paper, while the raw material dropped by 40 euros per tonne over the same period.
At the Packaging Division, revenue grew by 2% compared to the first nine months of the previous year due to higher sales prices. Accordingly, the business continues to pass on to the market the rises in paper prices – its raw material
-, in line with group forecasts.

2018-11-08 
Cascades Packaging starts up PM1 at Kingsey Falls after major rebuild by Toscotec.

Following a major rebuild of the dryer section supplied by Toscotec with the installation of TT SteelDryers, Cascades Packaging fired up its PM1 at Kingsey Falls mill, Canada. The machine was started up on schedule on September 23rd, with the support of Toscotec’s service engineers, who also provided the commissioning and the erection supervision onsite.

Toscotec implemented an efficient rebuild aimed to achieve the highest production increase with the lowest possible impact on the existing machine. Toscotec customized its engineering design in order to efficiently integrate its new dryer section into the existing equipment. The project was completed in record time and maintaining the overall length of the dryer section and the width of the dryers’ frame.

Mathieu Gendron, Mill Manager of Cascades Kingsey Falls, says, “Toscotec delivered the project according to the tight schedule we agreed upon. After start-up, we are seeing a promising increase in the production and we are confident that it will match the project targets”.

Fabrizio Charrier, Toscotec’s P&B Area Sales Manager, comments, “we are happy to see that the first results after start-up indicate that we will achieve the project’s target of 8% production increase. This is a very significant result, especially if you consider that the scope of the rebuilding was reduced to a minimum, in order to limit shutdown and construction costs”.

2018-11-08 
Ahlstrom-Munksjö to develop a new biodegradable flexible paper-based packaging material in collaboration with five partners

Ahlstrom-Munksjö has partnered with five companies to develop a new flexible paper-based packaging solution.

The objective is to develop a renewable, biodegradable and recyclable flexible paper‐based packaging material, by replacing current materials by more sustainable ones, leading to a reduced amount of plastic films. There is a significant market potential, as the size of the flexible plastic packaging market for dry food applications is evaluated at around EUR 3.7 billion a year in Europe(1).

Flexible packaging is widely used in food wrapping, pet food and non-food packaging, and numerous other end-use applications what we see at the supermarkets.

Usually flexible packaging contains a plastic film and/or an aluminum foil, creating an excellent barrier to water vapor, oxygen, and contaminants. Downside in using plastic and aluminum relates to the end of the life-cycle when the packaging becomes waste. In the normal waste management it ends up being either burned or dumped into landfill.

More about the Sherpack partners and funding :

The European project Sherpack – “Innovative structured polysaccharides‐based materials for recyclable and biodegradable flexible packaging” was kick‐off on June 14, 2017. Consortium has 6 partners – 3 industrial partners and 3 research centers. Industrial partners are Ahlstrom-Munksjö, Cargill, Borregaard, and research CTP, ITENE and ISOF-CNR. Sherpack was selected among 70 proposals in the EU funded H2020 BBI‐2016‐R05 call for projects on “Advanced biomaterials for smart food packaging”.

(1) Smithers Pira, “Global flexible packaging market sees rapid growth”, 2015

2018-11-07 
Stora Enso’s Sustainability Report was ranked best by Finnish financial journalists

Stora Enso’s Sustainability Report 2017 was chosen as best by Finnish financial journalists in a competition organised by the corporate responsibility network FIBS. Our report was short-listed among the 10 best reports in the overall competition.

Finnish financial journalists considered the report as the best sustainability report for 2017. They emphasized the usability of the report ; even if the report contains a lot of information, the facts are easily found.

“We are pleased that our report has received recognition also from media. A good report must be consistent and comprehensive, but also practical and easy to use,” says Eeva Taimisto, Head of Sustainability Communications at Stora Enso.

Stora Enso’s Annual Report 2017 is comprised of four separate publications : the Progress Book, the Sustainability Report, the Financial Report, and the Corporate Governance Report. The reports can be downloaded at storaenso.com/annualreport

The annual sustainability report review has been organised since 1996, and this year in co-operation with Aalto University, FIBS, Finsif, Nasdaq Helsinki, Finnish Auditors, Association for Environmental Management, and the Finnish Ministry of the Environment. In addition, three stakeholder groups’ favourite reports were awarded. Media’s choice was picked by the Association of Finnish Economic Correspondents, investors’ choice by the State Pension Fund (VER) and the NGO’s favourite report by the Baltic Sea Action Group (BSAG).

2018-11-07 
Stora Enso introduces sustainable RFID tag technology ECO for intelligent packaging

Stora Enso launches a new sustainable RFID tag technology called ECO™ by Stora Enso, designed for intelligent packaging functionalities in supply chain, retail and e-commerce applications. The technology enables paper-based RFID tags, providing a plastic-free and recyclable solution for packaging authentication.

Intelligent Packaging by Stora Enso develops and delivers RFID (Radio Frequency Identification) technology, which allows the packaged product to be automatically tracked, traced and tamper-proofed throughout the entire supply chain. Stora Enso’s ECO technology enables the RFID tags to be produced on a 100% fibre-based paper label, unlike traditional plastic tags, resulting in a lower carbon footprint for sustainability conscious B2B and B2C companies.

“The launch of ECOTMcreates a truly sustainable option for our customers and consumers, accelerating the use of smart technology in Stora Enso’s renewable solutions” says Martin Ros, Head of Stora Enso Intelligent Packaging. “Our ECO technology is unique in the sense that it offers a recyclable and plastic layer free option for RFID end-users, thus enabling a digital and sustainable packaging infrastructure.”

By integrating the RFID tag with a paper label, the manufacturing process becomes more scalable and, as result, also more cost-effective – all without compromising on performance and reliability. The ECO tag can be recycled in an environmentally friendly way together with paper and board materials. Moreover, it offers high conductivity at a lower cost compared with graphene or silver printed antennas. The ECO technology is available for use in multiple ongoing projects across multiple sectors.

Intelligent Packaging by Stora Enso

Intelligent Packaging by Stora Enso enables packaged products to be automatically tracked, traced and tamper-proofed throughout the entire supply chain using RFID technology. RFID is a wireless technology for the transfer of data that are electronically stored on tags attached to a package. The technology can identify several hundred items in sub-second speed and without line-of-sight interaction. Moreover, it allows communication between the brand-owner and the end-user by use of an NFC (Near Field Communication) enabled smartphone. The solution provides complete reader systems and uses a cloud-based track-and-trace solution that runs on the Microsoft Azure platform.

2018-11-07 
PCA CEO Mark Kowlzan named RISI Global Containerboard CEO of the Year

RISI, the leading information provider for the global forest products industry, today announced that Mark Kowlzan, Chairman and CEO of Packaging Corporation of America (PCA), has been named 2018 Global Containerboard CEO of the Year.

The award will be presented to Mr. Kowlzan at the RISI International Containerboard Conference on November 13, 2018 in Chicago at the Intercontinental Magnificent Mile Hotel.

The Global Containerboard CEO of the Year is nominated by a group of investment analysts and portfolio managers covering the international containerboard industry. Candidates are nominated for showing vision and leadership and achieving strong financial returns over the past year.

Analysts credited Mr. Kowlzan for delivering the highest returns for any publicly-traded containerboard/corrugated box suppliers. Under his leadership, PCA has also completed two major projects to keep the company’s integration rate the highest in the industry.

"PCA has done a good job of remaining focused and continuing to generate industry-leading margins," one analyst said. "Under Kowlzan, the company has done an impressive job of squeezing benefits from their 2013 acquisition of Boise, with cost-efficient conversions at their DeRidder, LA, and Wallula, WA, mills."

In the second quarter, PCA reported an EBITDA margin of 24.2% in containerboard and corrugated products, the highest among publicly traded North American containerboard producers. The company has achieved margins above 20% for 22 consecutive quarters, consistently higher than competitors, one analyst noted.

PCA has regularly achieved much higher than average box shipment growth, combining organic growth with targeted "bolt-on" acquisitions. Recent acquisitions have included TimBar Packaging, Columbus Container and Sacramento Container.

In the second quarter, PCA increased its box shipments 6.6% from a year ago on a per-shipping day basis, vs 0.9% growth for the overall US corrugated box industry. For the past three years (2017-2015), PCA’s grew its box shipments 4.9%/yr, vs 1.9% for the entire industry.

To supply this growing box plant system, PCA has invested in conversions of two paper machines at two former Boise mills.

PCA converted the D-3 machine at its DeRidder mill from newsprint to virgin containerboard in late 2014, with further improvements in early 2018. Continuous comprehensive optimization improvements have boosted the mill’s annual production from approximately 625,000 tons to more than 1.1 million tons/year. This year, the company is also converting a white paper/specialty machine at the Wallula mill to 400,000 tons/yr of virgin kraft linerboard in a two-stage project scheduled for completion this fall. Mr. Kowlzan, a former mill manager, has been deeply involved in the success of both conversion projects.

Since Kowlzan has become CEO in July 2010, PCA has increased its sales from $2.4 billion that year to $6.4 billion in 2017, and net income from $205 million in 2010 to $669 million last year. Earnings per share have gone from $2/share in 2010 to $6.02 (diluted, excluding special items) in 2017, with the consensus of analysts that PCA should earn around $7.90/share this year.

Since July 2010, PCA’s stock price has risen from $21/share to as high as $131/share earlier this year, before declining to $91/share on Oct. 17. Analysts note that this aligns with a general decline in containerboard stocks due to concerns about new capacity announcements.

2018-11-06 
Essity and the French Red Cross signed a new 3 year cooperation

On Nov. 5th, Essity and the French Red Cross signed a new 3 year cooperation contract to improve hygiene and health of the homeless in France, including overseas territories. Since 2011, Essity has been supporting the French Red Cross to supply about 100,000 hygiene kits distributed during social tours by the French Red Cross volunteers all year round.

2018-11-06 
CEO Karl-Henrik Sundström: Our transformation strategy continues to deliver sustainable profitable growth

Stora Enso’s Capital Markets Day takes place in Helsinki on Wednesday 7 November. The theme of the day is “Creating value in the bioeconomy”.

“I am pleased how Stora Enso demonstrates ability to create value in the bioeconomy and successfully delivers sustainable profitable growth. We are perfectly positioned to benefit from the global megatrends, as we see many new opportunities for our renewable products to replace fossil-based materials,” says CEO Karl-Henrik Sundström.

During the day, Stora Enso will present its strategy and all five business divisions.

Capital expenditure for 2019
Stora Enso maintains its capital expenditure (excluding investments to biological assets) at the level of depreciation. In 2019, the estimated capital expenditure will be EUR 550–600 million, including EUR 100 million for biological assets. The forecasted annual depreciation is EUR 490–510 million and operational decrease in the value of biological assets EUR 50–70 million. Capital expenditure amounts do not include potential acquisitions or divestments and are excluding the impact of IFRS 16 Leases.

Capital Markets Day webcast

Stora Enso’s Capital Markets Day takes place in Helsinki tomorrow. You are welcome to follow the presentations focusing on an update on Stora Enso’s strategy, including an in-depth review of all of our business divisions, in a live webcast starting at 11.00 Finnish time (10.00 CET, 9.00 UK time) at https://edge.media-server.com/m6/p/2bpssr47

2018-11-06 

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