U.S. purchases of total printing-writing papers also decreased 1% in February compared to the same month last year. Total printing-writing paper inventory levels decreased 1% when compared to February 2024.
Printing & Writing Papers
Sales in the wood product industry decreased by 0.2% from January.
Valmet’s change negotiations completed in Services and Paper business lines, EMEA area organization and corporate functions.
Sappi Europe will renew price negotiations to reach the level of min. 10% originally announced, with implementation latest by 1 May 2024.
Total printing-writing paper inventory levels decreased 1% when compared to January 2024.
Effective May 1, 2024, Silvernail will succeed Mark Sutton, who previously announced the final phase of the CEO succession process.
For the 12-month period, Producer Price Index (PPI) increased by 1.6% y-o-y, the highest level since September 2023.
Drewsen Spezialpapiere to invest Euro 4.5 million for expansion of warehouse capacity. Construction is due to commence in autumn 2024.
Elliott Baxter has acquired 100% of the shares. The acquisition will generate combined group turnover in Ireland of circa Euro 50 million.
UPM's businesses and the Paper Workers’ Union have been negotiating for the last two years of the contract period. The business environment has changed significantly since the agreements were signed in 2022, said UPM.
The change negotiations cover approximately 820 persons in UPM Pulp Finland's operations, approximately 340 persons in UPM Timber sawmills and approximately 1,100 persons in UPM Communication Papers Finnish mills.
Iberpapel reported a profit of Euro 47.13 million in 2023, growth of 197.58% from 2022. That figure includes the gain on the sale of forest assets in Uruguay in 2023 of Euro 20.98 million.
Mondi broadens product offering with a special focus on printing, envelope and other converting papers.
For the Q4 2023, Canfor Corporation reported an operating loss of $191.3 million, compared to an operating loss of $65.1 million for the Q3 2023.
Imports of wood increased by 5% compared to the monthly average for the year 2022. The most important source of imported wood in December 2023 was Estonia (42%).
The American Forest & Paper Association (AF&PA) introduced Sonoco President and CEO Howard Coker as AF&PA’s Board Chair.
Antalis has acquired Tecnoprimaf, specialised in the manufacturing and distribution of wooden packaging and anti-corrosion solutions for industrial business customers.
The annual capacity of the rebuilt PM 11 can be increased from 400,000 to 520,000 tons.
In January, the unemployment rate was 3.7% for the third month in a row, and the number of unemployed people was little changed at 6.1 million.
Q4 2023 net earnings (loss) were $(284) million ($(0.82) per diluted share).