This increase is necessary to maintain viability of Sappi’s business, the actual amount will depend on the product and market circumstances.
Printing & Writing Papers
The change negotiations cover approximately 780 employees at UPM Pulp Finnish operations, approximately 235 employees at UPM Timber sawmills, approximately 1,100 employees at UPM Communication Papers Finnish mills and approximately 90 employees at the UPM Biofuels Lappeenranta biorefinery.
Sylvamo's Q3 2023 net income from continuing operations was $58 million ($1.37 per diluted share) compared to $49 million ($1.14 per diluted share) in the Q2 2023. Adjusted EBITDA (non-GAAP) was $158 million (18% margin).
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.
U.S. printing-writing paper shipments decreased 15% in October 2023 compared to October 2022. U.S. purchases of total printing-writing papers decreased 30% in September compared to the same month last year.
Board members will begin their new terms January 2024.
ProGroup plans to manufacture containerboard at Stockstadt Mill.
New orders for U.S. manufactured goods in September, up six of the last seven months, increased $16.1 billion or 2.8% to $601.5 billion. This followed a 1% August increase
He reports to Tapio Korpeinen, Chief Financial Officer, UPM, and he is based in Helsinki, Finland.
Operating profit before the gain from the sale of forest land in Uruguay amounted to Euro 13.77 million in the first nine months of 2023.
Paper Excellence Canada extends curtailment of paper operations at Catalyst Crofton mill to the end of November.
The number of UPM employees affected is 401.
U.S. printing-writing paper shipments decreased 21% in September 2023 compared to September 2022, while U.S. purchases of total printing-writing papers decreased 33% in September compared to the same month last year.
U.S. import prices increased 0.1% in September following a 0.6% advance in August. Prices for U.S. exports rose 0.7% in September, after increasing 1.1% the previous month. Over the past year, import prices dropped 1.7% and export prices fell 4.1%.
The film size press will be designed to process special papers at a maximum speed of 1150 m/min and to apply starch on various paper grades, from 80 gsm copy paper up to 350 gsm Bristol paper.
U.S. monthly PPI rate came in at 0.5%, surpassing the anticipated 0.30%, with the previous value being 0.70%.
The persistent global economic downturn is proving to be much tougher than anticipated with depressed markets, geopolitical instability and weak economic growth combining to put significant pressure on Sappi, particularly in Europe.
In January-July, the volume of wood imports totalled 3.14 million cubic metres and increased by 3% compared to the previous year. Imports of pulpwood were 28% higher than in the previous year. The import volume of chips decreased by 28% and that of logs by 15%.
Mondi confirms that closing has been accelerated and the sale of of Mondi Syktyvkar facility has now completed. Earlier Mondi completed the sale of three of its packaging businesses in Russia to Gotek for a total of RUB 1.6 billion ($17.6 million).
The Iberpapel Group has signed the definitive agreement for the sale of the forestry assets in Uruguay on a total of 11,280 hectares. Through this $57 million transaction, the company has disposed of 40% of its forestry assets.