New Zealand’s Whakatane Mill Ltd (WML) announces a significant investment upgrade, and progress is already well underway.
WML has successfully secured a substantial private investment of over NZD$70 million from its shareholders. This investment marks the most significant capital expenditure for WML since 2004 and is a testament to its commitment to growth. The infusion of funds will facilitate a major upgrade, elevating WML to industry-leading standards.
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International Paper (IP) reported Q2 2023 financial results. Net earnings were $۲۳۵ million ($۰.۶۸ per diluted share), Adjusted operating earnings were $۲۰۴ million ($۰.۵۹ per diluted share).
“In the Q2, the operations of International Paper continued to run well and we managed our businesses effectively in a challenging demand environment,” said Mark Sutton, Chairman and CEO. “We continued to advance our Building a Better IP initiatives, including our commercial improvement and cost management opportunities. The benefits of that work and our strong financial foundation position International Paper well as we navigate the current economic environment.”
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Billerud today announced that its President and CEO, Christoph Michalski, is leaving the company, with immediate effect. Michalski has held the position of CEO since November 2020.
Billerud’s Board of Directors has appointed the current CFO and deputy CEO, Ivar Vatne, as acting CEO. Vatne joined the company as CFO in May 2019 and has also been deputy CEO since October 2022. Prior to joining Billerud, Vatne held executive positions within Arla, Fiskars and P&G.
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Canfor Pulp Products Inc. (CPPI) today reported its second quarter of 2023 results.
The Company reported an operating loss of $37.9 million for the second quarter of 2023, compared to an operating loss of $25.2 million for the first quarter of 2023. After taking into consideration a net $6.9 million inventory write-down in the current period, the Company’s adjusted operating loss was $31.0 million for the second quarter of 2023, compared to an adjusted operating loss of $21.6 million for the first quarter of 2023. These results, for the most part, reflect the impact of substantial global pulp pricing declines in the current quarter driven by elevated global market pulp producer inventory levels and weak global softwood pulp demand.
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The Paper Excellence Group (Paper Excellence) today announced its updated organizational structure for its business units following the recent acquisitions of Resolute Forest Products in March 2023 and Domtar in November 2021.
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Packaging Corporation of America (PCA) reported Q2 2023 net income of $۲۰۳ million, or $۲.۲۴ per share, and net income of $۲۰۹ million, or $۲.۳۱ per share, excluding special items. Q2 net sales were $۲.۰ billion in 2023 and $۲.۲ billion in 2022.
Excluding special items, the ($.92) per share decrease in Q2 2023 earnings compared to the Q2 2022 was driven primarily by lower volumes in the Packaging ($.90) and Paper ($.07) segments, lower price and mix in the Packaging segment ($.47), higher depreciation expense ($.09), and higher other converting costs ($.03).
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Advance results indicate that total manufacturing sales in Canada decreased ۲.۱% in June 2023. The largest declines were in the petroleum and coal product, chemical, and food product industries, as Statistics Canada reports.
canadian lumber production and export also suffered from same effects as we have mentioned in the previous report.
This estimate was calculated based on a weighted response rate of ۶۶.۹%. The average final response rate for the survey over the previous ۱۲ months has been ۹۴.۵%.
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DS Smith announced a significant investment plan to be implemented in the next two years across its three packaging sites in Greece. The EUR 33.9 million investment is focused on equipment upgrades including purchasing state-of-the art machinery for innovative packaging to boost productivity as part of the company’s growth strategy in the East European market.
Starting with upgrades at Ierapetra’s Box Plant this summer, the investments will not only advance packaging capabilities, but also create a safer working environment. Investment into other sites located in Ancient Corinth and Thessaloniki will also see the modernization of equipment and minimize raw material waste.
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Hiang Seng Fibre Container Co., Ltd. has chosen to rely on A.Celli for a complex and highly technological rebuilding intervention on their PM5 located in Bangkok, Thailand.
A.Celli know-how will make it possible to rebuild the PM5 headbox, converting it from single to double-layer with the aim of improving the testliner printability.
UPM Communication Papers today announced plans to permanently close its Plattling mill in Bavaria, Germany, reducing the uncoated and coated publication paper capacity by 595,000 tonnes in Europe.
UPM said, “These plans are a continuation of necessary steps to proactively ensure competitiveness of our operations and align graphic paper capacity to a profitable customer demand.
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Lumber production in Canada decreased ۱۴.۹% from March to ۴ ۰۷۴.۰ thousand m3 in April. Production was down ۶.۱% from April ۲۰۲۲, reports Statistics Canada.
Sawmills shipped ۳ ۹۳۵.۰ thousand m3 of lumber in April, down ۸.۲% from March and down ۷.۹% from April ۲۰۲۲.
According to Analytics, in April 2023, Canada decreased exports of lumber to the United States by 4.4% year-on-year. Supplies to China increased by 54.9%, supplies to Japan decreased by 39%. The average price of lumber was set at $200.7 per m3.
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Deublin Company, a leading provider of steam joints and siphons for the paper industry is pleased to announce that Gardner Systems is now a key part of Deublin. This broadens Deublin’s capabilities in the design, supply, and installation of steam and condensate systems for paper machine dryer sections.
Gardner Systems was founded in 1967 and is headquartered in Appleton, Wisconsin. The company has a team of experienced engineers and technicians who design and install steam and condensate systems that meet the specific needs of paper mills.
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Huhtamaki is making a significant investment in its Paris, Texas facility in the U.S. The investment consists of an expansion of its manufacturing capacity as well as a consolidation of an external warehouse. The investment into production assets is approximately $30 million, and the warehouse and manufacturing facility will be leased. This will significantly increase the North America business segment’s capacity in folding cartons to support the growth of the Foodservice business.
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Brazil’s COBAP completed the modernization process of its PM#1. Hergen has supplied a set of equipment for the modernization of the press section and the installation of a new drive concept for the drying section. The upgrade project provided by Hergen focused on increasing production capacity by increasing the dry content arriving to the drying section, enabling the machine to operate at 600 m/min in the future.
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International technology group Andritz has received an order from Infinya Containerboard Ltd. for a complete OCC line including reject treatment system for its recycled paper mill located in Hadera, Israel.
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Valmet will supply a new high-capacity winder to Gascogne Papier in France. The winder will be delivered for the paper machine PM 7 at their Mimizan site. The start-up of the machine is scheduled for 2025. The value of the order will not be disclosed.
Valmet’s delivery will include a high-capacity OptiWin two-drum compact winder that has a wide production range with different widths and diameters of shipping rolls. As a key solution for high-quality multi-roll winding, the winder is equipped with pro-active dual spreading.
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In March 2023, Ahlstrom launched a consultation process with employee representatives at its Stenay plant in France about the possibility to divest the plant, and if a buyer cannot be found considering closure.
After a long process to identify potential buyers, Ahlstrom has received a binding offer from Accursia Capital to acquire the Stenay plant. The potential acquisition is subject to consultation with employee representatives.
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Mondi, a global leader in packaging and paper, is investing €۱۶ million in new technology to produce a new packaging range called FunctionalBarrier Paper Ultimate. This ultra-high barrier paper-based solution for food meets growing customer demand for sustainable packaging that contributes to a circular economy.
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As announced earlier, Kemira’s Board of Directors and President & CEO Jari Rosendal have agreed that Jari Rosendal will leave his position as the President & CEO latest during 2024. Kemira’s Board has decided to initiate the search for his successor.
Kemira announced on July 11, 2023 that Jari Rosendal is on sick leave for the time being. Kemira’s Board of Directors has appointed Petri Castrén as Interim President & CEO as of July 18, 2023.
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On 28-30 August 2023 the corrugated community will get together in Cleveland, Ohio to discuss the latest industry trends and exchange ideas and experiences.
It goes without saying that T.CON will be there when the doors of the Exhibit Hall at Huntington Convention Center of Cleveland are opened and CorrExpo officially starts. Hosted by TAPPI, a forward-thinking American association with thousands of members worldwide, the event is a true go-to for everyone active in the corrugated industry.
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