| PAPER INDUSTRY NEWS - JUNE 2000 |
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This page contains pulp and paper industry news for June 2000
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NEWS JUNE 2000
Uniforêt Inc. Closing Tripap Mill
SAINT-LEONARD, Quebec, June 30 /CNW/ - Uniforêt Inc. announced the permanent closure of the Trois- Rivières uncoated paper mill effective July 29, 2000. This difficult decision was taken following repeated major financial losses by Tripap resulting from, amongst other things, a weak demand for its products and the obsolescence of its equipment.
On June 9, 2000, Uniforêt announced an important financial restructuring as a first step of a process aimed at ensuring the long term viability of Uniforêt. Despite the closure of the Tripap mill, Uniforêt will maintain 520 direct jobs and 608 indirect jobs through its Port-Cartier and Péribonka mills.
For complete news Go to http://www.newswire.ca/
Bemis to Acquire Flexible Packaging Assets of Arrow Industries
MINNEAPOLIS--(BUSINESS WIRE)--June 30, 2000--Bemis Company, Inc. (NYSE-BMS) today announced that it has agreed to purchase the assets of the flexible packaging business of Arrow Industries in Dallas, Texas. This business had net sales of approximately $33 million during the last twelve months. Terms of the agreement were not disclosed.
Commenting on the acquisition, Jeffrey Curler, President and CEO of Bemis, said ``The Arrow flexible packaging business will be an excellent add-on to our polyethylene packaging business and is expected to be immediately accretive to Bemis' EPS.''
Bemis Company is a major supplier of flexible packaging and pressure sensitive materials used by leading food, consumer products, manufacturing, and other companies worldwide.
AssiDomän Aborts Sale of Cartonboard
2000-06-28 AssiDomän's Board of Directors has decided to abort the sale of AssiDomän Cartonboard that was initiated in December last year. Negotiations with several different parties have shown that it is not possible at the present time to create a better structure for the cartonboard business at a price acceptable to AssiDomän. The general decline in the valuation of forest industry shares that has taken place during the past six months, has contributed to a lower valuation of Cartonboard by potential buyers.
For complete news Go to http://www.asdo.se
Valmet Delivers New Innovative Flotation Technology to Keräyskuitu in Finland
28.06.2000 Valmet and Keräyskuitu Oy have signed a delivery contract covering a new flotation system for the Keräyskuitu deinking plant in Kotka, Finland. The start-up of the new system is scheduled for year-end 2000.
The new system is designed to use old newspapers (ONP) and magazines (OMG) as main raw materials for producing pulp for newsprint and magazine paper producers. The capacity of the line is 340 ADMT/D.
For complete news Go to http://www.valmet.com/
Valmet Introduces the Innovative GapWasherTM Technology for Efficient Ash Washing
27.06.2000 Valmet has delivered the first mill-scale GapWasherTM for ash washing for the deinking plant in the MetsäTissue Mänttä Mill in Finland. New GapWasher has met performance expectations since the start-up in September 1999 and the process cleanliness and pulp quality has been clearly improved.
For complete news Go to http://www.valmet.com
Stora Enso and Vapo Oy Energia Agree to Increase Large-scale use of Forest Chips in Finland
[Jun. 26, 2000] Stora Enso Forest and Vapo Oy Energia have made an agreement concerning the collection of logging residue. The agreement extends the service Stora Enso provides to forest owners as at the forest owner's request tree branches and tops in regeneration areas can be harvested from areas suitable for collecting logging residue.
For complete news Go to http://www.storaenso.com/
Smurfit-Stone Announces Plan to Discontinue Operations at Torrington Corrugated Plant
(June 21, 2000) Smurfit -Stone Corp will close operations at its Torrington, CN, corrugated container plant in October, laying off 152 employees. Some workers may be able to work in another facility
For complete news Go to http://www.jefferson-smurfit.com
e-cycled.com Acquires Ideal Paper
(PORTLAND, OREGON) – June 21st, 2000 -- e-Cycled.com, the worldwide B2B industry leader in multi-material e-commerce recycling that operates an Internet based value-added network for the materials recycling market, has closed the acquisition of Pacwest Fibers Inc., dba Ideal Paper. Ideal was purchased for an undisclosed amount.
For complete news Go to http://www.e-cycled.com/
Korsnäs Acquires Walki Sack from UPM-Kymmene
June 21, 2000 UPM-Kymmene and Korsnäs AB have signed a Letter of Intent for the sale of UPM-Kymmene's paper sack production, Walki Sack, to Korsnäs.
The deal covers all seven Walki Sack factories in five countries, with 440 employees and net sales of approx. 51 million Euro in 1999. For Korsnäs AB, the deal strengthens the paper sack business within Korsnäs Packaging. Walki Sack has a very good geographical fit with present Korsnäs Packaging sack production facilities in Denmark, England, Germany, Italy, Poland, the Ukraine, Croatia and Yugoslavia. The combined capacity will reach about 1 billion sacks per year. This will make Korsnäs Packaging the second largest producer on the European market.
For complete news Go to http://www.korsnas.se/
Smurfit-Stone Announces Closure of York Containerboard Mill
CHICAGO, June 20, 2000 - Smurfit-Stone Container Corporation (Nasdaq: SSCC) today announced its intention to discontinue operations at its York, PA, containerboard mill.
The mill has a capacity to produce about 130,000 tons of corrugated medium, but has been idle since February 15, 2000, due to market conditions. Smurfit-Stone made the determination to discontinue operations at York following its recent review of future needs.
For complete news Go to http://www.jefferson-smurfit.com
Perkins Papers Ltd. - End of Strike at the Folding Carton Div
CANDIAC (Quebec) June 19 /CNW/ - The mill employees of the Folding Carton Division of Perkins Papers Ltd. located in Lachute, Québec returned to work today June 19, 2000 after a five day strike. An agreement in principle was reached last Saturday June 17 and 99% of the employees voted in favour of this agreement. These employees are represented by the Graphic Communications International Union, Local 555, Montreal (GCIU).
For complete news go to http://www.newswire.ca/
Chesapeake Revises Earnings Outlook
June 19, 2000 Richmond, Va.– Chesapeake Corporation (NYSE:CSK) today announced revised expectations for earnings for the second fiscal quarter ending June 30, 2000. For the quarter, the company expects to report earnings per share in the range of $.10 to $.15, comparable to the first fiscal quarter, which ended April 2, 2000.
For complete news Go to http://www.shareholder.com/
International Paper Completes Exchange Offer for Champion International
PURCHASE, N.Y., June 19 /PRNewswire/ -- International Paper (NYSE: IP) announced today it has completed its exchange offer for Champion International (NYSE: CHA).
When the offer expired at midnight on Friday, June 16, approximately 92 million Champion shares had been tendered, including approximately 6.2 million tendered pursuant to notice of guaranteed delivery, representing over 94 percent of the total outstanding shares. International Paper is paying $50 in cash and .7073 shares of IP common stock for each Champion share tendered. The merger is expected to be completed tomorrow.
For complete news Go to http://www.corporate-ir.net/
Mercer International Holds Official Ribbon Cutting Ceremony for Its Rosenthal Pulp Mill
June 16, 2000 Zurich, Switzerland Mercer International Inc. (Nasdaq: MERCS, Easdaq: MERC GR) today held the official ribbon cutting ceremony for its newly-converted Rosenthal pulp production facility in Blankenstein, Germany. In attendance were several high-ranking local officials, including Dr. Bernhard Vogel, Minister-President for the state of Thuringia.
The Rosenthal facility was recently converted from producing sulfite pulp to the production of sulphate (kraft) pulp, a higher quality product. The Rosenthal pulp mill restarted operations on December 13, 1999. As a result of this conversion process, the mill's capacity was increased by 75% to 280,000 tonnes, and operating and environmental costs were significantly reduced due to the adoption of the more efficient kraft pulp process.
For complete news Go to http://www.mercerinternational.com/
Stora Enso investing in Kotka Mill
[Jun. 16, 2000] Stora Enso's subsidiary, Laminating Papers Oy, is investing in its Kotka Mill. The saturating base kraft capacity of PM1 and the pulp mill will both be increased from 135,000 t/a to 160,000 t/a at a cost of EUR 27 million. The project will be completed by October 2001. This investment will enhance Laminating Papers' competitiveness.
For complete news Go to http://www.storaenso.com/
Valmet Supplies a Large Coating Line to Asia Pulp and Paper
15.06.2000 Valmet has received a major repeat order from Asia Pulp and Paper Co. Ltd (APP). As a continuation of the successful start-up of the world's largest off-machine coating and finishing line for double-coated fine paper, APP has decided to extend their coated paper capacity and orders a similar off-machine coating line number two to Gold East Paper Jiangsu at the Dagang Mill in China. The new line will come on stream in summer 2001.
For complete news Go to http://www.valmet.com/
PIMA and Forestweb Create Web Alliance
SAN DIEGO--(BUSINESS WIRE)--June 14, 2000--The Paper Industry Management Association (PIMA) and Forestweb, Inc. announced the creation of a strategic Internet alliance and co-branded website to be called PIMAweb. The announcement was made yesterday at PIMA's 81st Annual Management Conference in San Diego, California. PIMAweb will combine high quality content, online searchable databases and member services from PIMA with leading edge Internet technology from Forestweb to provide a unique platform for pulp and paper industry management issues.
PIMAweb will combine high quality content, online searchable databases and member services from PIMA with leading edge Internet technology from Forestweb to provide a unique platform for pulp and paper industry management issues.
The co-branded website (www.pimaweb.com) will be the exclusive Internet distribution channel for PIMA's North American & Asia Pacific Papermaker Magazines. Current issues will be accessible through the PIMAweb site to the more than 45,000 worldwide subscribers to Papermaker Magazines. Visitors can also qualify for a free subscription to Papermaker Magazine at the site.
Forestweb will contribute customized news, statistics, directories, information and trade features to PIMAweb, as well as the technology for on-line surveys, webcasts and virtual trade-shows. The site will provide enhanced services for PIMA members, such as a members directory, an interactive buyer's guide, an electronic forum to discuss management issues, and an on-line training institute.
Rami Ghandour, CEO and Founder of Forestweb said, ``This is a tremendous opportunity for both organizations. We look forward to further expanding awareness of the benefits of Forestweb among PIMA members and Papermaker magazine readers, and of introducing PIMA and Papermaker to Forestweb's Internet community. Our relationship with PIMA and creation of the new PIMAweb site will add value to both organizations' membership offerings.''
According to Rick Larrick, incoming president of PIMA, ``Our goal is to use the Internet to expand our global membership by providing on-line access to paper industry management focused information and creating connectivity for its members to a wide range of online value adding service. The Forestweb development alliance and PIMAweb co-branded site will be the foundation to expanding PIMA's Internet presence.''
The creation of PIMAweb will allow Papermaker Magazine to offer targeted on-line advertising to its current print advertisers. Internet advertising on the site is powered by DoubleClick DART technology.
About PIMA:
PIMA (www.pima-online.org) is the premier association for management professionals in the paper and pulp industry. Its purpose is to contribute to the strength of the international pulp and paper community by providing the means for its members to address relevant industry issues and to develop their management and leadership skills. PIMA has 4,500 members from over 30 countries. PIMA provides conferences, training, Papermaker Magazine and a variety of other member services.
About Forestweb:
Forestweb (www.forestweb.com) is a Los Angeles-based Internet portal for the forest industry. Forestweb is a free and open site targeted to every segment of the global forest industry. The site offers a wide variety of features from news to information to trading. Forestweb takes no sales commissions and its technologies place all control in the hands of users. The company, which on January 31, 2000, announced its Internet presence in the forest products market, has over 3,000 registered members from 100 countries.
Smurfit-Stone Enters E-commerce Marketplace
Packaging Leader Launches E-tailer Solutions Company
CHICAGO--(BUSINESS WIRE)--June 12, 2000--Smurfit-Stone Container Corporation (NASDAQ: SSCC - news), the industry's leading manufacturer of paper and paperboard-based packaging, announced today that it has entered the online arena with the launch of NextPak(SM), a first mover B2B company focused on providing brand-driven supply chain solutions to e-tailers.
NextPak(SM) increases e-tailer profitability by integrating packaging, fulfillment, and shipping activities into one seamless operation. This innovative, end-to-end approach drives customer retention, increases revenues, and reduces supply chain costs.
"Our proprietary consumer research shows what e-tailers must do to build the strength of their brands and reduce costs,'' said Jay Gurandiano, Smurfit-Stone's chief operating officer. ``Our diagnostic capabilities and design resources enable us to design and implement turnkey supply chain solutions that deliver operating efficiencies, increase profitability, and build brands. We are excited about the prospects in the market, and we are jumpstarting our national sales efforts with a visibility ad campaign starting in today's Wall Street Journal.''
A survey of online consumers conducted by A.T. Kearney shows that improved packaging and other supply chain enhancements can dramatically increase consumer satisfaction and repurchasing intent. According to the study, improved return services can turn ``dissatisfied'' consumers who repurchase at a 49 percent rate into ``satisfied'' consumers who repurchase 77 percent of the time. Improved packaging and confirmed deliveries, in turn, can convert these ``satisfied'' consumers into ``delighted'' consumers who repurchase 93 percent of the time.
``We are constantly looking for new opportunities to leverage our experience and resources in brand building and supply chain management for our customers,'' said Raymond M. Curran, president and chief executive officer of Smurfit-Stone. ``We recognize the significant growth opportunities in the e-commerce marketplace. We are targeting e-tailers - a segment expected to grow from $20 billion in 1999 to $141 billion in 2003. This segment is moving so fast that e-tailers have not captured the benefits of comprehensively managing their brand and supply chain synergies. Meaningful, brand-driven supply chain solutions reinforce a positive consumer experience and result in increased profitability for the e-tailer. ''
To drive its growth, NextPak(SM) will leverage the financial and knowledge resources of Smurfit-Stone, Gurandiano said. ``NextPak(SM) is the only company offering a full suite of revenue-enhancing packaging solutions for e-tailers.''
About Smurfit-Stone Container Corporation
Smurfit-Stone Container Corporation is the premier manufacturer of paper- and paperboard-based packaging. Smurfit-Stone holds industry-leading positions in the production of containerboard (including white-top linerboard and recycled medium), corrugated containers, industrial bags, and clay-coated recycled boxboard; and is the world's largest paper recycler. In addition, Smurfit-Stone is a leading producer of folding cartons, solid bleached sulfate, paper tubes and cores, and labels. The company operates more than 300 facilities worldwide and employs approximately 40,000 people.
Mercer International Closes On Sale of Trebsen Paper Mill
ZURICH, Switzerland--(BUSINESS WIRE)--June 12, 2000--Mercer International Inc. (Nasdaq: MERCS, Easdaq: MERC GR) today announced that it has sold its Trebsen packaging paper facility. The total purchase price was DM 18 million ($8.5 million). As a result of this sale, Mercer International will record a one-time gain of approximately $100,000, or $0.01 per diluted share in the second quarter of 2000.
The Trebsen facility has an annual production capacity of approximately 75,000 tonnes. In 1999, the Trebsen mill contributed $17.8 million in revenue, and reported operating income of approximately $100,000.
Mr. Jimmy S.H. Lee, Chairman and President, commented, ``We are very pleased to have closed on the sale of the Trebsen mill. This is a significant step in executing our corporate strategy to focus our resources on the specialty paper market. Going forward, we will continue to concentrate our paper resources on this niche within the industry.''
Mr. Lee concluded, ``In our pulp operations, the ramp-up at Rosenthal continues as expected, and the mill is running at close to full capacity. Conditions within the pulp market continue to look favorable with pricing for benchmark NBSK pulp expected to reach $710 per tonne in July. On the Stendal project, we are progressing towards meeting all the requirements needed in order to obtain project funding commitments, and still expect the project to be completed in 2003.''
Mercer International Inc. is a European pulp and paper manufacturing company. To obtain further information on the Company, please visit its web site at http://www.mercerinternational.com.
The preceding includes forward looking statements which involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following: market conditions, competition and other risk factors listed from time to time in the Company's SEC reports.
Boise Cascade Expects Lower Second-Quarter Earnings
BOISE, Idaho, June 9 /PRNewswire/ -- Boise Cascade Corp. (NYSE: BCC) announced today that weakness in its building products and office products distribution businesses will result in lower than expected second quarter 2000 earnings. We now expect second-quarter earnings to be well below both first quarter 2000 earnings, which were 60 cents per diluted share, and second quarter 1999 earnings, which were 52 cents per diluted share before nonroutine items.
For complete news Go to http://www.prnewswire.com
Imerys to Acquire Quimbarra, the Leading Latin American Producer of Calcium Carbonates
ATLANTA--(BUSINESS WIRE)--June 9, 2000--On May 26, 2000 Imerys signed an agreement with the US group Praxair for the acquisition of 100% of Quimbarra, the leading Latin American producer of ground (GCC) and precipitated (PCC) calcium carbonate.
Quimbarra operates 15 plants in Latin America (7 in Brazil, 5 in Argentina, 3 in Mexico) and owns high-quality minerals reserves. Quimbarra sales amount to 220,000 tonnes of PCC and 150,000 tonnes of GCC, representing global sales of approximately 55 million.
For complete news Go to http://www.imerys-paper.com/
Stora Enso to Own 60% of Indonesian Plantation Project
[Jun. 09, 2000] The Stora Enso subsidiary Nordic Forest Development Holdings Pte Ltd (NFDH), Singapore, has purchased a further 30% of the shares of PT Finnantara Intiga, a joint venture developing a pulpwood plantation in West Kalimantan, Indonesia. The seller was PT Gudang Garam, a major Indonesian cigarette manufacturing company, wishing to concentrate on its core business.
For complete news Go to http://www.storaenso.com
Kimberly-Clark Sees Strong Business Results Continuing
DALLAS, June 8 /CNW/ -- Kimberly-Clark Corporation (NYSE: KMB) today reiterated its objectives for top-line growth of 6 to 8 percent and double-digit growth in earnings per share from operations in 2000 and beyond. The company said it is comfortable with external expectations for both the second quarter and the year 2000.
For complete news Go to http://cfs.stockpoint.com
Madison Paper Company Acquires the Assets of FSC Paper Company in Chicago
CHICAGO--(BUSINESS WIRE)--June 8, 2000--Madison Paper Company, a newly formed company which is a wholly-owned affiliate of Myllykoski Corporation of Finland, has acquired the assets of the FSC Paper Company located in Alsip, Illinois, 15 miles southwest of Chicago.
The Alsip mill annually produces 120,000 tons of newsprint from 100% recycled fiber collected from the greater Chicago metropolitan area. Leroy J. Barry, who is Chairman of the new Company's board of directors and who is also president and CEO of Madison Paper Industries in Madison, Maine, stated, ``Alsip is a great location - it is surrounded by a vast urban forest ensuring a continuous source of recycled fiber. It is one of the nation's optimal shipping locations, and it is in the heart of North America's largest printing center.''
For complete news Go to http://www.madisonpaper.com/
Valmet Upgrades Weyerhaeuser, Dryden PM 2 in Canada
6 June 2000 Valmet has received an order from Weyerhaeuser Co. to upgrade the PM 2 fine paper machine in Dryden, Ontario. The machine primarily makes xerographic paper. The project will improve product quality and speed. The Valmet deliveries will take place in April and start-up is scheduled for May 2001.
For complete news Go to http://www.valmet.com/
Boise Cascade to Acquire AllJoist
BOISE, Idaho, June 5 /PRNewswire/ -- Boise Cascade Corp. (NYSE: BCC) and Alliance Forest Products Inc. (NYSE: PFA) jointly announced today that Boise Cascade will acquire all the fixed assets and trademarks of Alliance Forest Products-Joists, Inc. (AllJoist) for a total consideration of C$17 million in cash. The transaction is expected to close at the end of June, subject to approval by U.S. and Canadian regulators.
For complete news Go to http://www.prnewswire.com
Forest Products Value in 1999 Sets a New Record
EDMONTON, June 1, /CNW/ - In terms of overall shipment value, 1999 was a banner year for Alberta's forest products industry. Statistics released today show that 1999 shipments of lumber, panelboard and pulp and paper by Alberta Forest Products Association (AFPA) member companies were valued at more than $3.7 billion. This is a 12 per cent increase over 1998 shipments of $3.3 billion and sets a new record for AFPA production.
For complete news Go to http://www.newswire.ca
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