Mondi's London-listed shares jumped 11% on the news, as the company said it will distribute a cash balance of 16 billion rubles ($250 million) to shareholders.
Printing & Writing Papers
The American Forest & Paper Association (AF&PA) announced the promotion of Andrew Topps as the next Vice President, General Counsel and Corporate Secretary, effective September 1, 2022.
International Paper's 2Q 2022 net sales increased by 13% to $5,389 million, compared to $4,770 million in the 2Q 2021. Net earnings (loss) were $511 million ($1.38 per diluted share) compared with $360 million ($0.95 per diluted share) in the 1Q 2022 and $432 million ($1.09 per diluted share) in the 2Q 2021.
U.S.total printing-writing paper shipments decreased 2% in June compared to June 2021. U.S. purchases of total printing-writing papers increased 3% in June compared to the same month last year. Total printing-writing paper inventory levels decreased 2% when compared to May 2022.
Kati ter Horst, Executive Vice President, Paper Division and a member of the Group Leadership Team, has decided to leave Stora Enso as of 1 July 2022. After more than 25 years with the Company, she will now pursue career opportunities outside of Stora Enso.
U.S. printing-writing paper shipments increased 2% in May 2022 compared to May 2021. U.S. purchases of total printing-writing papers increased 3% in May compared to the same month last year.
Central National Gottesman Inc. announced that its North American Distribution Division has acquired Lewis Paper International, Inc., a leading distributor of paper, packaging and wide-format products headquartered in Addison, Illinois.
After seven consecutive monthly increases, sales of wood products declined, mainly due to lower prices.
Company will withdraw from Russia completely and will continue to implement the withdrawal in stages as the review of implementation options is fully completed.
Resolute Forest Products Inc. announced ratification of a four-year collective agreement by Unifor union members at seven of the company's pulp and paper mills in Canada, following an agreement-in-principle reached on May 15, 2022.
How the world wood markets will change and what the Russian forest based industry will lose. The new report provides a detailed picture of how the global markets for wood products have changed in January-April 2022, and what consequences the war has had for Russian companies. It presents also the forecasts of the owner...
Resolute Forest Products Inc. reached an agreement-in-principle for a four-year labor agreement with the Unifor union, representing most of the hourly employees in the company's Canadian pulp and paper operations. The agreement-in-principle is subject to member ratification.
Sylvamo Corporation has made the decision to exit Russia. In the beginning of March Sylvamo suspended its operations in Russia. On March 2, Sylvamo also announced that Svetogorsk Pulp and Paper Mill may reduce its output or temporarily suspend production due to a shortage of raw material.
Sylvamo's 1Q 2022 net income was $26 million ($0.59 per diluted share) compared with $62 million ($1.41 per diluted share) in the 4Q 2021. 1Q 2022 net sales increased to $977 million compared to $778 million in the 1Q 2021.
International Paper announced that Sharon R. Ryan, Senior Vice President, General Counsel and Corporate Secretary, will retire effective June 30, 2022. Joseph R. Saab has been elected Senior Vice President, General Counsel and Corporate Secretary effective July 1, 2022.
After the start of the war, Siemens put all new business in and international deliveries to Russia and Belarus on hold. The comprehensive international sanctions, as well as current and potential countermeasures, impact the company’s business activities in Russia, particularly rail service and maintenance.
As of 31 December 2021, the net asset value of the Russian operations was Euro 687 million.
The Paperworkers Union’s strike at most UPM mills in Finland began on 1 January 2022 and lasted almost four months.
Sappi Europe to increase price by 8% for its coated mechanical reel products for European customers, effective May 15.
Activities in Russia represent less than 1% of the Bureau Veritas revenue of Euro 5 billion.