The loan supports investments in the modernisation and upgrade of a bioproduct mill, including the replacement of a recovery boiler.
Packaging Paper & Board
Ranheim Paper & Board has placed a new order with Toscotec for the second phase of PM5’s technological upgrade, which is scheduled for autumn 2024. PM5 produces greyboard and coreboard in the basis weight range from 220 to 540 gsm.
Huhtamaki North America launches fiber-based egg cartons, made from 100% recycled materials, in the United States for the first time.
The company is currently constructing a corrugated plant with the aim of starting partial operations in March 2024.
The annual production capacity of folding boxboard increased to 600,000 tons. The full capacity will be reached by the end of 2025.
MM Group has entered in consultations with trade unions and work council on a potential closure of the small packaging kraft paper machine (PM 3) and a reorganisation, which may include collective dismissal of around 110 employees.
DS Smith to replace the use of coal at the site as part of its decarbonization roadmap, reducing sit emissions by 99,000 tonnes of CO2 per year.
U.S. packaging papers & specialty packaging shipments in October 2023 increased 3% compared to October 2022. They were down 2% when compared to the same 10 months of 2022.
Board members will begin their new terms January 2024.
Stora Enso is widening its offering to meet the ever-increasing demand for sustainable packaging materials.
WestRock has entered into two virtual power purchase agreements (VPPAs) with ENGIE North America (ENGIE), a subsidiary of ENGIE S.A. and global leader in the net zero energy transition.
Rugao BM 13 will produce one million tons of high-quality white folding boxboard per year.
Clearwater Paper temporarily suspends operations at Lewiston, Idaho, paper mill due to regional gas natural pipeline incident.
Q3 2023 EBITDA was $13.0 million, down from $15.1 million in the Q3 2022. Adjusted EBITDA amounted to $11.7 million, compared to $15.5 million for the same period last year.
The real estate was sold to Phoenix Group, a large real estate developer, for Euro 47 million.
Cash flow from operating activities reached the high level of SEK 301 million ($27.6 million) and the balance sheet continued to strengthen. The net debt/EBITDA ratio amounted to 0.9 at the end of the quarter compared to 1.6 one year ago.
Q3 net profit was SEK 656 million ($60 million).
Year-to-date cash provided by operating activities of $82 million; total debt of $749 million.
ProGroup plans to manufacture containerboard at Stockstadt Mill.
The planned cash transaction, valued at $538 million, would be funded through available capacity in Greif’s existing credit facilities.