| PAPER INDUSTRY NEWS - FEB. 2000 |
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This page contains pulp and paper industry news for Feb. 2000
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NEWS FEBRUARY 2000
Lafarge Forms Joint Venture with Rock-Tenn To Produce Gypsum Paperboard Liner
February 29, 2000 RESTON, VA --Lafarge Corporation (NYSE:LAF), North America's largest diversified supplier of construction materials, and Rock-Tenn Company (NYSE:RKT), one of the largest recycled paperboard producers in the U.S., announced today the formation of a joint venture to produce gypsum paperboard liner for Lafarge's U.S. drywall manufacturing plants.
For complete news Go to http://www.lafargecorp.com/
Bowater's Gatineau, Quebec, Mill Resumes Operations
GREENVILLE, S.C.--(BUSINESS WIRE)--Feb. 28, 2000--Bowater Incorporated (NYSE: BOW - news) announced today that its newsprint mill in Gatineau, Quebec, has resumed operations after a production shutdown of six days. The shutdown was caused by a blockade of highways in the region by independent truckers who were protesting rising fuel prices and prevented the delivery of raw materials to the mill. At the company's request, a Quebec court issued an injunction that has allowed deliveries to the mill to be resumed. The plant's 527 employees have been called back to their jobs.
For complete news Go to http://www.bowater.com/main.html
Valmet to Supply a Pulp Drying Line Modernisation to Metsä-Botnia's Joutseno Pulp Mill
28.02.2000 Oy Metsä-Botnia Ab Joutseno Pulp has started a project to build up a new fiber line which will enable the mill to raise its capacity in stages up to 600 000 t/a of softwood reinforcement pulp.
The pulp drying line for the project was ordered from Valmet and includes modification of the existing line to increase capacity from 1350 t/d up to 2200 t/d. This is the highest design level for a single drying line in the world. The existing pulp drying line, with a trim width of 6700 mm, was also delivered by Valmet and started up in 1991.
For complete news Go to http://www.valmet.com/
NCR Systemedia and Asia Pulp and Paper Ink $12 Million Distributor Agreement to Expand Business in China and Hong Kong
DAYTON, Ohio, Feb. 28 /PRNewswire/ -- NCR Corporation (NYSE: NCR - news) and Asia Pulp and Paper (APP) (NYSE: PAP - news) today announced that the two companies have signed a comprehensive, multi-year multi-million dollar distribution agreement. The agreement, expected to generate revenue of $12 million for NCR in 2000, greatly expands NCR Systemedia's business in China and Hong Kong and includes a full range of consumable products.
For complete news Go to http://biz.yahoo.com/
SNC-Lavalin Subsidiary Involved in Construction of Cedar Board Plant
Montreal, February 25, 2000 — SNC-Lavalin Services Ltd., a subsidiary of SNC-Lavalin Inc., has entered into a lump sum contract with Ced-Or Forest Products Inc., a subsidiary of Ced-Or Corporation., for the engineering, procurement, construction, start-up and performance guarantee of the proposed new cedar oriented strand board plant in Bearn, Quebec. The contract is valued at $86 million. The oriented strand board (OSB) mill will be designed for cedar specialty and value-added OSB products for the global market. Construction will commence upon receipt of the Quebec government’s authorization, expected in the third quarter of 2000, and the financial closing. The project should be completed by the end of 2001.
For complete news Go to http://www.snc-lavalin.com/
Caraustar Industries, Inc. Announces Acquisition Of Milpak, Inc.
ATLANTA, Feb. 25 /PRNewswire/ -- Caraustar Industries, Inc. (Nasdaq: CSAR) today announced that it has completed the acquisition of MilPak, Inc. MilPak's facility, located in Pine Brook, New Jersey, provides blister packaging, cartoning and labeling, and other contract packaging services for a variety of consumer products. MilPak had revenues for the year ended December 31, 1999 of $5.4 million dollars.
For complete news Go to http://www.corporate-ir.net/ireye/
Smurfit-Stone To Acquire St. Laurent Paperboard For Cash And Stock
CHICAGO AND MONTREAL, February 23, 2000 — Smurfit-Stone Container Corporation (Smurfit-Stone, Nasdaq: SSCC) and St. Laurent Paperboard, Inc., (St. Laurent, TSE: SPI, NYSE: SLW) jointly announced today that Smurfit-Stone has agreed to acquire St. Laurent for about US$1.4 billion (CAN $2.04 billion) consisting of approximately US$625 million (CAN $913 million) in cash, Smurfit-Stone common stock, and the assumption of St. Laurent's debt.
For complete news Go to http://www.jefferson-smurfit.com/
Sonoco Announces Paperboard Price Increase
HARTSVILLE, S.C., Feb. 23 /PRNewswire/ -- Sonoco (NYSE: SON) will raise prices on uncoated recycled paperboard by $30 per ton effective April 3, it was announced today by Peter C. Browning, president and chief executive officer.
For complete news Go to http://www.prnewswire.com/cnoc/
Stora Enso to Acquire Consolidated Papers for EUR 4.9 Billion
Stora Enso’s strategic rationale for the acquisition includes: the opportunity to expand into the World’s largest paper market by acquiring the premier coated and supercalendered paper producer with leading market positions in Stora Enso’s core paper grades, creating a powerful North American platform for future growth.
Helsinki, Finland and Wisconsin Rapids, Wisconsin (February 22, 2000) – Stora Enso Oyj (Helsinki Stock Exchange: STERV and Stockholm Stock Exchange: STER) today announced that it has reached an agreement to acquire Consolidated Papers, Inc. (NYSE: CDP) in a transaction valued at EUR 4.9 billion (USD 4.8 billion), including assumed net debt of EUR 0.9 billion (USD 0.9 billion). The combined enterprise will be the largest producer of paper and board by capacity world-wide, with total 1999 sales of approximately EUR 12.4 billion (USD 13.2 billion) and total paper capacity of approximately 15 million metric tonnes.
For complete news Go to http://www.bit.se/
Hercules Intends to Sell Resins Division, Enters Discussions with Potential Buyers
WILMINGTON, DE, February 22, 2000 . . . Hercules Incorporated (NYSE: HPC) today announced its intention to sell its Resins Division. The company said it has entered formal discussions with an unidentified major company.
Vincent J. Corbo, Hercules’ Chief Executive Officer, said, "Our long history in resins manufacturing and marketing has been a source of pride for Hercules. This sale will insure new opportunity for growth by the Resins Division within a company where it will be a core business.
For complete news Go to http://www.herc.com/
AVERY DENNISON Announces $40 Million Investment to Expand in China
PASADENA, Calif. - February 22, 2000 - Avery Dennison Corporation (NYSE/PCX:AVY) today announced that it will invest more than $40 million to expand its operations in China. At a news conference in Shanghai, China, Avery Dennison senior managers said the Company will build three new facilities in China over the next two years, expand its existing Kunshan manufacturing plant and open a professional training center for label printers and converters.
For complete news Go to http://www.averydennison.com/
Chesapeake and Georgia-Pacific Finalize Graphic Packaging Joint Venture
ATLANTA/RICHMOND, VA., February 18, 2000- Georgia-Pacific Corp. and Chesapeake Corporation today completed a previously announced agreement to combine Georgia-Pacific's litho-laminated graphic packaging business and Chesapeake's Color-Box litho-laminated graphic packaging business in a new joint venture.
The joint venture, officially known as Color-Box, LLC - A Georgia-Pacific and Chesapeake Joint Venture Company, will include Georgia-Pacific's graphics, corrugated and specialty packaging facilities at Dubuque and Monticello, Iowa, and Madera (Coralure), Calif., and Chesapeake's Color-Box facilities at Richmond, Ind., Visalia, Calif., and Pelahatchie, Miss. The new venture will be based at Atlanta, Ga.
Chesapeake Executive Vice President - Merchandising & Specialty Packaging Octavio Orta said, "This joint venture is one of the steps we have taken to increase asset utilization for our graphic packaging business. Together, these combined entities will deliver a wider range of products and offer attractive additional options to customers."
"This joint venture helps Georgia-Pacific meet our strategic initiative to grow and enhance our graphics business," said Steve Macadam, senior vice president - containerboard and packaging for Georgia-Pacific. "This venture will be a major player in the litho-laminated packaging business, with a national capability.
" Headquartered at Atlanta, Georgia-Pacific is one of the world's leading manufacturers and distributors of pulp, paper and building products. It consists of two distinct operating groups - The Georgia-Pacific Group (NYSE: GP), which includes the pulp, paper and building products business, and The Timber Company (NYSE: TGP), which manages 4.7 million acres of timberland in North America. The corporation employs more than 50,000 people at more than 500 locations in the United States and Canada.
International Paper Reaches Agreement to Buy Shorewood Packaging
PURCHASE, N.Y., Feb. 17, 2000 International Paper (NYSE: IP) agreed to acquire Shorewood Packaging Corporation (NYSE: SWD) in a move that will create the premiere retail packaging company. The all cash transaction values Shorewood at $21 per share. Shorewood produces premium packaging for entertainment, cosmetic, personal care and other consumer products.
For complete news Go to http://www.internationalpaper.com/
UPM-KYMMENE AND CHAMPION INTERNATIONAL AGREE TO EUR 20 BILLION ($20 BILLION) MERGER CREATING A PREMIER GLOBAL FOREST PRODUCTS COMPANY
Champion Shareholders to Receive 1.99 UPM-Kymmene Shares For Each Champion Share
Helsinki, Finland and Stamford, Connecticut, (February 17, 2000) - UPM-Kymmene Corporation (Helsinki Stock Exchange: UPM1V; NYSE: UPM) and Champion International Corporation (NYSE: CHA) today announced that their boards of directors have approved a definitive merger agreement that would create a premier global paper and forest products company. The combined enterprise value is approximately EUR 20.5 billion ($20.2 billion) [EUR 15.5 billion ($15.3 billion) in equity; EUR 5.0 billion ($4.9 billion) in net debt] and represents the industry's first substantial cross-Atlantic merger.
For complete news Go to http://www.upm-kymmene.com
Canadian Pulp and Paper Association - MONTHLY MARKET PULP STATISTICS
MONTREAL, Feb. 15 /CNW/ - The Canadian chemical market pulp industry produced 830 000 tonnes in January, up 71 000 tonnes, or 9 percent, over January 1999. The industry shipped 803 000 tonnes, which was 16 percent higher than the same period last year. Producer stocks ended the month at 574 000 tonnes, up 27 000 tonnes from December. For the month, domestic shipments totaled 62 000 tonnes, 10 percent lower than January of 1999; deliveries to the United States, at 280 000 tonnes, were up 10 percent over the same period last year; shipments to the Asia/Africa region were 160 000 tonnes, an increase of 31% between January 2000 and January 1999. At current shipping rates, it is estimated that Canadian producers held 23 days of supply at the end of January, one day more than at the end of December.
For complete statistics Go to http://www.newswire.ca/
Alliance Forest Products Inc. - 1999 results
MONTREAL, Feb. 15 /CNW/ - Alliance Forest Products Inc. recorded total net sales of C$1,052.7 million for the year ended December 31, 1999, compared with C$1,085.1 million for 1998. Operating income was C$9.0 million, compared with C$94.2 million for 1998. The Company recorded a net loss of C$16.2 million (C$0.44 per common share) for 1999, compared with net earnings of C$25.9 million (C$0.68 per common share) for the previous year.
For complete results Go to http://www.newswire.ca/
Abitibi-Consolidated to Combine with Donohue in a $7.1 B Transaction
FOLLOWING QUEBECOR'S DECISION TO DIVEST ITS OWNERSHIP POSITION
Feb. 11, 2000
Abitibi-Consolidated to become global low-cost producer
C$250 million in synergy savings identified
400,000 tonnes of newsprint to be rationalized across asset base
Capital spending to be held at 50% of depreciation (C$300M)
John Weaver to be President and Chief Executive Officer
Michel Desbiens to become Chairman of the Board
Ron Oberlander to be Vice-Chairman of the Board
For complete news Go to http://www.abitibiconsolidated.com/
Results of Beloit Sale Hearing Announced
MILWAUKEE, Feb. 10 /PRNewswire/ -- Harnischfeger Industries, Inc. (OTC Bulletin Board: HRZI) today announced results of a sale hearing held before the Bankruptcy Court in Delaware on Tuesday, February 8, 2000. At the hearing, the Bankruptcy Court approved the following three sales transactions involving Beloit Corporation assets:
Paper Aftermarket and Roll Covers Division: Valmet Corporation
Paper Technology: Mitsubishi Heavy Industries, Inc.
Pulp and Finishing Divisions: Groupe Laperriere & Verreault
Inc.
For complete news Go to http://www.harnischfeger.com
Valmet to supply coated fine paper production line to Modo Paper
10.02.2000. The Swedish Modo Paper AB has placed an order with Valmet for a major production line for double-coated fine paper. The delivery to the Husum mill in Central Sweden will be an extensive one, including a paper coating machine, several other paper finishing units and major modernization of the mill's paper machine No. 8. The value of the entire Husum mill modernization project totals app. SEK 2 billion, of which the Valmet order makes up almost half.
For complete news Go to http://www.valmet.com/
Kimberly-Clark Completes Acquisition of Safeskin Corporation
Acquisition Provides Kimberly-Clark's Health Care Business With an Entry Into The $3 Billion Glove Market
DALLAS, Feb. 8 /PRNewswire/ -- Kimberly-Clark Corporation (NYSE: KMB) today completed the previously announced acquisition of Safeskin Corporation (Nasdaq: SFSK), a leading maker of high-quality, disposable gloves for the health care, high-technology and scientific industries. The transaction, which involves a tax-free exchange of stock, is valued at approximately $800 million. The acquisition took place after Safeskin's shareholders approved the transaction at a meeting in San Diego earlier today. Under the agreement, Safeskin shareholders will receive 0.1956 of a share of Kimberly-Clark common stock for each share of Safeskin common stock.
For complete news Go to http://www.prnewswire.com/
Canadian Pulp & Paper Industry on Track to Meet Expectations of Electronic Age & Shareholders
MONTREAL, Feb. 4 /CNW/ - Canada's paper industry is fundamentally linked to new-technology markets, generating a wide variety of products for today's information age and making strides in the area of forest management and sustained profitability.
For complete news Go to http://www.newswire.ca/
Fibermark Reports Seventh Consecutive Year of Record Earning
Net Earnings Increased 14% for the Fourth quarter and 7% for 1999
BRATTLEBORO, VERMONT—February 3, 2000— FiberMark, Inc. (NYSE:FMK) today reported that net earnings on a recurring basis for the fourth quarter ended December 31, 1999 increased 14% to a record $4.2 million, or $.57 per share, compared with $4.0 million, or $.50 per share, for the comparable 1998 quarter. Excluded from fourth quarter results was a $2.0 million after-tax charge, or $.27 per share, for writing off the remaining net value of the company’s Owensboro, Kentucky, facility and for an adjustment to its Beaver Falls, New York, facility closure expense. All but $0.1 million was a non-cash expense. Results for the fourth quarter and full-year 1999 and 1998 periods exclude other previously reported extraordinary and non-recurring items.
For complete news Go to http://www.fibermark.com/
Best ever Earnings Recorded in "Year of Change" at Nexfor
TORONTO, Feb. 4 /CNW/ - (NF) - In a year described as one of major organizational change, Nexfor Inc. today announced 1999 earnings of $266 million or $1.65 per common share on a fully diluted basis. The earnings were the highest in the Company's 13-year history.
For complete news Go to http://www.newswire.ca/
FORT JAMES Completes Sale of MARATHON Pulp Mill
DEERFIELD, IL. – February 2, 2000 – Fort James Corporation today announced that it has completed the sale of its wholly owned subsidiary, Fort James-Marathon, Ltd. to a joint venture between Tembec Inc. and Kruger Inc., both of Montreal, Canada. Proceeds from the sale totaled Cdn $100 million.
Marathon owns and operates a 180,000 tonne-per-year northern bleached softwood kraft pulp mill in Marathon, Ontario. Approximately 300 people are employed at the mill.
For complete news Go to http://www.fortjames.com/
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