| PAPER INDUSTRY NEWS - DEC. 1999 |
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This page contains pulp and paper industry news for Dec. 1999.
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NEWS - DECEMBER 1999
Metso Has Completed Santasalo's Industrial Gear Operations Acquisition
HELSINKI, Finland, Dec. 30, 1999 Metso Corporation (NYSE: MX; HEX: MEO) has completed the acquisition of a major part of Santasalo Oy's industrial gear operations as agreed in November. Santasalo Oy is part of Componenta Corporation. The acquisition price was approximately EUR 40 million.
For complete news Go to http://biz.yahoo.com/prnews/991230/mets
Westvaco Completes Acquisition of Evadale, TX, Bleached Paperboard Mill
NEW YORK, NY, December 29, 1999 -- Westvaco Corporation (NYSE:W) today completed its previously announced acquisition of Temple-Inland, Inc.'s (NYSE: TIN) bleached paperboard mill in Evadale, TX.
"We are excited to have the Evadale mill join our Packaging Resources Group," said John A. Luke, Jr., Westvaco Chairman and CEO. "This acquisition not only further enhances our scale and focus in global packaging markets, it also has compelling financial considerations. The mill will be accretive to our earnings and cash flow within the first year of our ownership, and we expect annual synergies and cost savings to reach a pretax total of at least $100 million within three years."
For complete news Go to http://www.westvaco.com/news/news.htm
Valmet supplies new TMP plant to Pine Falls, Canada
29.12.1999 Valmet Corporation will supply a new TMP plant to Pine Falls Paper Company, a subsidiary of the Tembec Group in Canada. Pine Falls, located on the Winnipeg River in Manitoba, will in this modernization project shut down its stone groundwood and sulphite mills and convert to TMP production from 100 % sawmill chips.
For complete news Go to http://www.valmet.com/fpt/webnews
BASF & Tembec Enter Into Long Term Agreement Concerning the Oriented Strand Board Market
MOUNT OLIVE, N.J.--(BUSINESS WIRE)--Dec. 27, 1999--BASF Corporation of Mount Olive, New Jersey and the Resin Division of the Tembec, Incorporated, Quebec, Canada entered into a long term agreement allowing Tembec to promote the use of BASF's ``binder'' products to the Oriented Strand Board Industry in the NAFTA Region. In North America, Tembec is the exclusive distributor for BASF`s Lupranate®(1) polymeric MDI products specifically designed for use in engineered wood products. This new agreement marks the beginning of a cooperative effort that will bring the combined binder technology, know-how and products of two industry leaders to customers throughout North America, providing customers more options and better technology.
For complete news Go to http://biz.yahoo.com/bw/991227/
Weyerhaeuser Purchase of TJ International Clears Hart-Scott-Rodino Waiting Period
FEDERAL WAY, WA, Dec. 27, 1999. – Weyerhaeuser Company today announced that its planned acquisition of TJ International moved closer to closing with the expiration of the mandatory waiting period following pre-merger notification under the Hart-Scott-Rodino Antitrust Improvements Act.
"With this development, we will proceed with the acquisition of TJ International early next year," said Steven R. Rogel, Weyerhaeuser chairman, president and chief executive officer.
For complete news Go to http://www.weyerhaeuser.com/news
AMCOR Acquires Stevens Flexible Packaging
Melborn, Australia, Dec. 20, 1999 Amcor announced today that it has reached an agreement to acquire Stevens Flexible Packaging, Inc. of Hagerstown, Maryland USA. Stevens Packaging is a converter of plastic film for the fresh cut produce industry. It has sales of around $20 million and in addition provides immediate vertical integration opportunities for our flexible packaging business in Bowling Green, Kentucky.
For complete news Go to http://www.amcor.com.au/whatsnews.htm
St. Laurent Paperboard Completes Acquisition of Kimball Companies, a Manufacturer of Protective Packaging
Montreal, Quebec, December 22, 1999 - St. Laurent Paperboard Inc. announces that it has completed the acquisition of the assets of The Kimball Companies in East Longmeadow, Massachusetts through its wholly owned subsidiary, Eastern Container Corporation.
For complete news Go to http://www.stlaurent.com/ang/index.htm
Valmet Supplies TMP line to Abitibi
22 December, 1999 Valmet Corporation will supply a new TMP plant to Abitibi Consolidated, Kenogami, Quebec mill.
The new TMP line, which has a design production rate of 450 tpd, is part of a major modernization at the mill. The scope of supply includes chipwashing, plug screw feeders, pressurized preheaters, and two identical three-stage refiner lines based on RGP 76 CD refiner technology. Valmet will also supply basic engineering, basic training, erection, check-out and start-up services.
For complete news Go to http://www.valmet.com/fpt/webnews
Canadian Newsprint Production and Shipment up in Nov. 99
Canadian Pulp and Paper Association - Monthly Newsprint Statistics
MONTREAL, Dec. 22 /CNW/ - The Canadian newsprint industry operated at 95% of its capacity in November compared to 82% for the same month in 1998-at which time there was a strike in Eastern Canada. Total Canadian shipments are up 13.1% in comparison to the same period last year. On a regional basis, domestic deliveries expanded 0.5%, and sales to the US and overseas grew 14.7% and 18.1% respectively. At the end of November, Canadian newsprint producers held 418 000 tonnes in inventory, down 13 000 tonnes from the previous month.
For complete statistics Go to http://www.newswire.ca/releases
Valmet to deliver World's Fastest Linerboard Machine to Propapier
(21 December, 1999 Valmet Corporation has received an order from Propapier GmbH of Burg, Germany to deliver a complete liner/fluting machine, valued at appr. EUR 55 million. The start-up of the machine is scheduled for early 2001.
The 6,300 mm wire width machine will have a mechanical design speed of 1500 m/min and a production speed of up to 1300 m/min, making it the world's fastest linerboard machine. Production capacity will be 275,000 tpy. The machine is unique, being the first liner/fluting machine with two gap formers. The headbox on one of the formers will be equipped with dilution control for precise basis weight profile control.
For complete news Go to http://www.valmet.com/fpt/webnews
Fort James to Exit Groundwood Business
Operations at Wauna Mill to Cease by mid-February 2000
DEERFIELD, Ill., Dec. 16 /PRNewswire/ -- Fort James Corporation (NYSE: FJ - news) announced today that it will exit the groundwood business based at the Wauna mill near Clatskanie, Oregon. This decision was made in part due to the company's ongoing strategy to focus on its core consumer products businesses.
"As a relatively small producer in a large, global marketplace, Fort James is unable to compete effectively in groundwood,'' said Joe Neil, President, Fort James Communications Papers Business. "Given current and projected market conditions, it's unlikely that we'll be able to grow this part of our business in the future.''
For complete news Go to http://biz.yahoo.com/prnews/
Canadian Pulp and Paper Association
MONTHLY MARKET PULP STATISTICS
MONTREAL, Dec. 16 /CNW/ - The Canadian chemical market pulp industry produced 687 000 tonnes in November, up 19 000 tonnes, or 3 percent, over November 1998. The industry shipped 641 000 tonnes, which was 3 percent lower than the same period last year. Producer stocks ended the month at 570 000 tonnes, up 46 000 tonnes from October. This can be attributed to a rise in bleached softwood sulfate inventories at British Columbia mills, due to labor disruptions at west coast ports. For the month, domestic shipments totaled 55 000 tonnes, 13 percent lower than November of 1998; deliveries to the United States, at 253 000 tonnes, were up 8 percent over the same period last year; shipments to the Asia/Africa region were 97 000 tonnes, a decrease of 8% between November 1999 and November 1998. At current shipping rates, it is estimated that Canadian producers held 23 days of supply at the end of November, two days more than at the end of October.
For complete statistics Go to http://www.newswire.ca/releases
TEMBEC / KRUGER Announce Purchase of MARATHON Pulp Mill
Temiscaming, December 15, 1999 : Tembec Inc. and Kruger Inc. announced today that they have entered into a joint venture agreement to acquire all of the shares of Fort James-Marathon Ltd. from Fort James Corporation for Cdn. $100 Million. The transaction is expected to be closed early in the first quarter of 2000, and is subject to customary conditions and receipt of all regulatory approvals in connection with the acquisition.
For complete news Go to http://www.tembec.ca/indexe.htm
NORAMPAC Announces a New Project for a 40 Million Mega Box Plant in Ontario
MONTREAL, Dec. 15 /CNW/ - Norampac is pleased to announce its decision to relocate its box plant located in Leaside, Ontario to a new plant to be located in the Toronto area. The decision to relocate to a new plant was taken because the present site offers no room for additional expansion. The Leaside plant has a highly qualified, efficient and flexible workforce that has demonstrated its ability to produce results by returning this plant to profitability and increasing output to the limits of its capacity. For these reasons Norampac has decided to create a new high performance converting plant that will be a model of efficiency and flexibility based on quality and service designed to meet the needs of our diverse customer base including national accounts, speciality products and sheet plants.
For complete news Go to http://www.newswire.ca/
Metso Strengthens its Automation and Control Technology Product Portfolio
HELSINKI, Finland, Dec. 14 /PRNewswire/ -- Neles Automation, Metso Corporation's automation and control technology business area, has signed an agreement with Parsytec AG in Germany to begin sales, servicing and product development activities for Parsytec's web inspection system for the paper industry. With this cooperation agreement, Neles Automation will expand its product portfolio in the area of paper web quality inspection system and strengthen its position as the leading automation supplier to the paper industry.
For complete news Go to http://biz.yahoo.com/prnews/
Sonoco Outlines Plans for Sustainable Growth at Annual New York Meeting With Financial Community
NEW YORK, Dec. 10 /PRNewswire/ -- Sonoco (NYSE: SON) outlined plans for generating sustainable earnings growth with returns on capital and equity among the highest levels in industry at the Company's annual analysts and money managers meeting held here today.
The Company said it expects to meet current market expectations of $.49 per share for this year's fourth quarter and $1.78 per share for the year 1999, the 38th record year out of the last 41, excluding one-time transactions.
For complete news Go to http://www.prnewswire.com
Hercules Will Phase Out Nitrocellulose Business
WILMINGTON, Del.--(BUSINESS WIRE)--Dec. 10, 1999--Hercules Incorporated (NYSE: HPC - news) announced today that it will phase out production and sale of nitrocellulose. The company will focus its manufacturing operations in Parlin, New Jersey on hydroxyethylcellulose (HEC) as a growth opportunity.
Monika Riese-Martin, General Manager of the Aqualon Division of Hercules, explained that the decision is market driven. She noted, ``Despite a significant internal effort to reduce our production costs, the persistent over-capacity of the global nitrocellulose market has made this a nonviable business for Hercules.''
For complete news Go to http://www.herc.com/abouthercules/news
AF&PA Forecasts ‘Ultra-Slow’ Growth
December 10, 1999 Confirming what many in the industry knew to be near stand-still capacity growth, the American Forest & Paper Association (AF&PA) last week announced that U.S. capacity to produce paper and paperboard will increase by an annual average of 0.7 percent over the next three years.
AF&PA released its findings in its 40th annual Capacity Survey. The industry-wide survey represents 97 percent of all U.S. producers. “This survey confirms the findings of last year’s survey, which pointed to ultra-slow capacity growth,” says Stan Lancey, AF&PA chief economist. “In fact, in 1999 this year’s survey shows a half a percentage point decline in paper and paperboard capacity. That is the first decline on record in the many years that this survey has
For complete analysis Go to http://www.packaging-online.com
STORA ENSO Packaging to Concentrate on Corrugated Board
Dec. 09, 1999 Stora Enso's subsidiary Pakenso is to sell its moulded pulp packaging unit in Varkaus, Finland, to Danish Brødrene Hartmann A/S. The unit produces 75 million egg packages per year for the Finnish and Russian markets. The transaction is in line with Pakenso's (as of 1 January 2000, Stora Enso Packaging) strategy to concentrate on its core business, corrugated board. A letter of intent has been signed by Pakenso and Hartmann, and the deal is scheduled to be concluded on 1 January 2000.
For complete news Go to http://www.bit.se/bitonline/
St. Laurent Paperboard Inc. Purchases the Remaining 51% interest in Eastern Container Corp.
Montreal, Quebec, December 6, 1999 - St. Laurent Paperboard Inc. ("St. Laurent"), Montreal, Quebec (TSE: SPI; NYSE: SLW) announces that it has purchased the remaining 51% interest in voting stock of Eastern Container Corporation ("Eastern") held by an independent Canadian investor (the "Investor").
The acquisition of the 51% majority interest was paid in cash. Under the original terms of its agreement with the Investor, St. Laurent had the ability to pay for such acquisition, at its option, by way of cash or the issuance of common shares of St. Laurent.
For complete news Go to http://www.stlaurent.com/ang/xxnews
TEMBEC Concludes Acquisition of DONOHUE MATANE INC.
Temiscaming, December 3, 1999 : Tembec Inc. has completed the transaction to acquire all of the shares of Donohue Matane Inc. The transaction will become effective upon receipt of approval from the Competition Bureau of Canada.
According to Frank Dottori, President and Chief Executive Officer : "This mill is an excellent fit with our existing assets. Not only will this acquisition allow Tembec to become a major world player in the high yield pulp market, but it will also provide significant synergies with our existing Temcell pulp operations."
For complete news Go to http://www.tembec.ca/indexe.htm
Simpson to Retain Tacoma Kraft Mill
(SEATTLE, Dec. 1, 1999--Simpson Paper Company today announced that its subsidiary, Simpson Tacoma Kraft Company, would retain its pulp and paper mill located in Tacoma, Wash. In September, Simpson announced that it was exploring a number of options for the mill, including possible sale of the operation. The mill employs 510 people in the production of linerboard, natural and bleached papers and unbleached pulp. Simpson Paper Company is a wholly owned subsidiary of Simpson Investment Company of Seattle.
"Over the past few months, we have discussed the mill's future with several interested parties,'' said Ray Tennison, president of Simpson Investment Company. ``After carefully reviewing a number of potential options with our board of directors, we decided our best option going forward was to continue operating the mill ourselves,'' Tennison said.
"Tacoma Kraft is highly competitive, enjoys a strong market position and is having a great year,'' Tennison said. "We are excited about moving forward with additional investments at the mill, working with the mill's outstanding workforce, and continuing to have Simpson Tacoma Kraft Company be part of the Tacoma community.''
Simpson Investment Company owns Simpson Paper Company and Simpson Timber Company. Simpson Timber Company owns approximately 867,000 acres of timberland in Washington, California and Oregon and operates several wood processing facilities in Washington and California. Founded in 1890, Simpson is one of the oldest privately held forest products companies operating in the Pacific Northwest.
Harnischfeger (Beloit's Parent Co.) Announces NYSE Acts to Delist Stock
MILWAUKEE, Dec. 3, 1999 /PRNewswire/ -- Harnischfeger Industries, Inc. (NYSE: HPH - news) today announced that it has been notified by the New York Stock Exchange that the Exchange intends to suspend trading in the common stock of Harnischfeger on the NYSE after the close of the market Wednesday, December 8, 1999 and has begun a process to delist the stock. ``It is likely that our stock will continue to trade over the counter,'' said Kenneth A. Hiltz, Harnischfeger's senior vice president and chief financial officer. ``Investors should contact their brokers.''
For complete news Go to http://www.harnischfeger.com/news/releases_frame.htm
Canadian Newsprint Production & Shipment up in Oct. 1999
Canadian Pulp and Paper Association - Monthly Newsprint Statistics
MONTREAL, Dec. 2 /CNW/ - The Canadian newsprint industry operated at 95% of its capacity in October compared to 81% for the same month in 1998-at which time there was a strike in Eastern Canada. Total Canadian shipments are up 12.6% in comparison to the same period last year. On a regional basis, domestic deliveries expanded 10.4%, and sales to the US and overseas grew 14.1% and 10% respectively. At the end of October, Canadian newsprint producers held 419 000 tonnes in inventory, up 12 000 tonnes from the previous month.
In the US, daily newspapers increased their consumption by 3.3% in comparison to the same month in 1998. Total US consumption expanded 2.4% year-over-year to reach 1.113 million tonnes. For the first ten months of 1999, total US consumption grew 2.1% compared to the same period in 1998. At the end of October, US consumers held 1.301 million tonnes in inventory, down 94 000 tonnes from the previous month. This level of stock was equivalent to 38 days of supply.
For complete statistics Go to http://www.newswire.ca/releases/
Rayonier Eliminated Planned 23-Day Market Shutdown at Fernandina Mill
STAMFORD, CT, December 2, 1999 — Rayonier (NYSE:RYN) announced today that due to generally improving strength in fluff pulp markets, it has eliminated a planned 23-day market-related shutdown at its specialty pulp mill in Fernandina Beach, FL.
The company indicated that a new fluff pulp has been developed by company research scientists and mill personnel. Called New Angel™, it represents an expansion of the mill’s product line and will be marketed primarily into Asia.
For complete news Go to http://www.rayonier.com/ray_news
SAPPI EPS up 80% and Debt Reduced by R3-billion
02 December 1999 Improved industry conditions and internal efficiencies enabled global paper group Sappi to increase earnings before exceptional items (headline) earnings by 80 percent to 456 cents (76 US cents) for the year to 30 September 1999. Adjustments to net income include the sale of the US Timberlands and provisions for restructuring.
For complete news Go to http://www.sappi.com/
Louisiana-Pacific Corporation Acquires Evans Forest Products
PORTLAND, OR, Dec. 1, 1999--Louisiana-Pacific Corporation (NYSE:LPX - news) announced today that it has completed the acquisition of British Columbia-based Evans Forest Products, enhancing the company's position in the rapidly expanding engineered wood products market.
"This acquisition is an excellent fit to our business as it broadens our ability to deliver high quality engineered wood products to customers in fast growing West Coast markets,'' said Mark A. Suwyn, Louisiana-Pacific Chairman and CEO. ``Evans Forest Products has established itself as a quality industry player, and we are very enthusiastic about exploring the growth opportunities with this highly skilled and talented workforce.''
For complete news Go to http://biz.yahoo.com/bw/
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