| PAPER INDUSTRY NEWS - MAR. 2000 |
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This page contains pulp and paper industry news for Mar. 2000
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NEWS MARCH 2000
Sonoco Announces Price Increase for Paper-Based Engineered Carriers
HARTSVILLE, S.C., March 31 /PRNewswire/ -- Sonoco (NYSE: SON) will increase prices for its paper-based engineered carriers (tubes and cores) by 6% to 9% in the United States, effective May 1, it was announced today by Harris E. DeLoach, Jr., senior executive vice president and chief operating officer.
For complete news Go to http://www.prnewswire.com/
Minerals Technologies Inc. to Build a Satellite PCC Plant for Bahia Sul in Brazil
NEW YORK, March 30 Minerals Technologies Inc., announced today that its wholly owned subsidiary Specialty Minerals do Brasil-Comercio e Industria Ltda. has signed an agreement to build a precipitated calcium carbonate (PCC) satellite plant at a paper mill owned by Bahia Sul Celulose S.A. The satellite plant, which will be in Mucuri on the eastern coast of the central part of Brazil, will supply PCC as a filler material for printing and writing papers. The satellite PCC plant, scheduled to begin operation in the third quarter of 2000, is expected to be the equivalent of two satellite units. A satellite unit produces between 25,000 and 35,000 tons of PCC a year.
For complete news Go to http://www.shareholder.com/
Willamette Industries to Purchase Additional Mexican Operations
PORTLAND, Oregon, March 30 /PRNewswire/ -- Willamette Industries, Inc. (NYSE: WLL - news) has signed an agreement with Fomento Economico Mexicano SA de C.V., known as Femsa, for the purchase of Femsa's integrated box operations in Mexico for $71 million in cash. Femsa, Mexico's largest beverage producer, wishes to divest itself of non-core assets so that it can focus on its strategic business. The transaction is subject to a no-action decision by the Mexican Federal Competition Commission.
For complete news Go to http://www.wii.com/newsexp.
Andritz AG buys Finnish Ahlstrom Machinery Group
March 28, 2000, At the end of 1999 the take-over of Austrian-based Andritz AG, a supplier of machinery and industrial plants, by The Carlyle Group (47.5 %), Unternehmens Invest AG (25 %), Custos Privatstiftung and Members of Andritz AG’s Executive Board (jointly holding 27.5 %) became effective. The goal of the new owners is to further expand Andritz‘ core activities. With the purchase of the Finnish Ahlstrom Machinery Group Andritz AG has now made its largest acquisiton so far.
For complete news Go to http://www.andritz.com/
Newsprint Industry Production, Consumption & Shipment Up, Inventory Down
Montreal, March 23, 2000 The Pulp and Paper Products Council announced today that the North American newsprint industry operated at 96% of its capacity in February compared to 97% for the same month in 1999. Total shipments are up 4.9% in comparison to the same period last year. Deliveries to the US and Canada expanded 3.5% and 14.5% respectively, and overseas sales grew 6.3%. At the end of February, North American newsprint producers held 488 000 tonnes in inventory, down 80 000 tonnes from the same month in 1999.
In the US, daily newspapers increased their consumption by 3.7% in comparison to the same month in 1999, and total US consumption expanded 2.6% to reach 940 000 tonnes. At the end of February, US dailies held 963 000 tonnes in inventory, down 22 000 tonnes from the previous month. This inventory level was equivalent to 36 days of supply.
For complete statistics Go to http://www.open.doors.cppa.ca/
AF Chief Consultant in Forestry Industry Project
STOCKHOLM, Sweden--(BUSINESS WIRE)--March 27, 2000--AF has been awarded the contract by MODO PAPER AB as chief consultant for the company's new BM 1 off-line paper-coating plant at Husum, in the north of Sweden. AF has also been asked to assume responsibility for all the project planning work, project administration and electrical engineering and instrumentation planning services relating to the conversion of the PM 8 papermaking machine. The PM 8 is being converted from the production of uncoated fine paper to the production of base paper for coating. The total capacity of the coating machine will be 300,000 tonnes per year and the estimated investment will amount to SEK 2 billion. For AF's part, the contract represents approximately 50,000 hours of consultancy services in the areas of process techniques, project management, electrical engineering planning, instrumentation planning and IT services.
Parallel with this, AF has also been awarded the contract by the sub-contractor ABB to program the control system for the bark boiler, an assignment which represents a further few thousand hours of consultancy work. MODO PAPER AB is one of Europe's leading manufacturers of fine paper, supplying a broad spectrum of customers including independent distributors and paper converters over the entire European continent, as well as the company's own paper wholesalers in around 20 countries. The product program includes a complete range of coated and uncoated papers for office use, printing and packaging.
International Paper, Georgia-Pacific and Weyerhaeuser Announce Plan To Create Comprehensive On-Line Marketplace
PURCHASE, N.Y., ATLANTA and FEDERAL WAY, Wash., March 23 /PRNewswire/ -- International Paper (NYSE: IP), Georgia-Pacific Corp. (NYSE: GP) and Weyerhaeuser Co. (NYSE: WY) today jointly announced that they intend to develop a global business-to-business marketplace to enable buying and selling of paper and forest products on-line.
For complete news Go to http://currentnews.internationalpaper.com/
Valmet Converting Unveils Innovations at Drupa 2000
23.03.2000 Valmet Converting provides one of the largest and most comprehensive ranges of equipment and solutions for the converting industry world-wide. This includes the world-leading brands of Valmet, Rotomec, Atlas, Titan, General and Midi.
For complete news Go to http://www.valmet.com/
Nashua Corporation to Acquire Rittenhouse Paper Company
Broadens Customer Base And Expands Core Label And Paper Businesses
NASHUA, N.H.--(BUSINESS WIRE)--March 22, 2000-- Acquisition Expected To Be Accretive Beginning In 2000 Nashua Corporation (NYSE: NSH - news), a leading manufacturer of specialty coated products, labels, toners and developers, with approximately $170 million in annual sales, today announced it has agreed to acquire all of the stock of Rittenhouse Paper Company, a privately held company which manufactures and markets a wide range of specialty paper, pressure-sensitive labels and imaging supplies.
For complete news Go to http://www.nashua.com/
Caraustar Expects Lower 1Q Earnings & Significant Improvements in Quarterly Results for the 2,3 & 4Q of 2000
ATLANTA, March 20 /PRNewswire/ -- Caraustar Industries, Inc. (Nasdaq: CSAR) today announced that it expects first quarter 2000 results to be approximately $0.10 to $0.12 per share below the $0.36 per share reported in the fourth quarter of 1999, excluding restructuring charges. The company has continued to experience lower unit sales volume that began in December of 1999. Seasonal and weather related slowdowns in gypsum facing paper shipments will result in about a 9,000-ton reduction in unit volume for the first quarter compared to the fourth quarter of 1999. Increases in recovered fiber costs in February and March have temporarily squeezed operating margins by approximately $10 per ton compared to the fourth quarter of 1999. The loss at the company's Sprague, Connecticut paperboard mill is also expected to widen by approximately $1.0 million in the first quarter compared to the fourth quarter of 1999 as a result of a week long shut down for boiler repairs and continued margin pressures.
For complete news Go to http://www.corporate-ir.net/ireye/
Republic Announces Sucessful Startup of its New Lawton, Oklahoma Paperboard Mill
Hutchinson, Kan., March 17, 2000¾ Republic Group Incorporated (NYSE:RGC) and its wholly-owned subsidiary, Republic Paperboard Company, announced today that commercial production has commenced at its Lawton, Oklahoma recycled paperboard mill. The mill will ultimately have an annual production capacity of 220,000 tons. In May 1998, the Company announced plans to construct this greenfield mill for the production of lightweight recycled paperboard to be used primarily as facing paper by gypsum wallboard manufacturers. The addition of the Lawton mill will essentially double the Company’s paperboard production capacity.
For complete news Go to http://www.republic-group.com/
Geographics Announces Acquisition of Domtar Product Line
BLAINE, Wash.--(BUSINESS WIRE)--March 16, 2000--Geographics, Inc. (OTCBB:GGIT - news) announced today that it has signed a letter of intent with Domtar Inc. (NYSE:DTC - news; TSE:DTC - news) to acquire substantially all of the assets of the Consumer Products Business of the Communication Papers Division of Domtar which largely consists of inventory, customer files and designs.
For complete news Go to http://www.geographics.com/
Valmet supplies major PM rebuild to Great Northern Paper, Maine
14 March 2000 Great Northern Paper Inc. (GNP) has selected Valmet to supply an extensive rebuild of their Millinocket, Maine, mill's paper machine no. 11. The scope of the delivery, valued at more than USD 40 million, covers all key machine sections and systems, making the 30-year-old paper machine essentially a new one. The rebuilt machine is scheduled to start up in late summer 2001.
For complete news Go to http://www.valmet.com/
Chesapeake Completes Acquisition of Green Printing Company
RICHMOND, Va.--(BUSINESS WIRE)--March 14, 2000--Chesapeake Corporation (NYSE: CSK - news) today announced the acquisition of Green Printing Company, Inc., a specialty packaging producer and printer in Lexington, North Carolina. Green Printing offers high-end, lithographic printed folding cartons, specialty packaging, sales and promotional materials, and technical publications to many Fortune 500 companies in the computer, financial and textile market sectors. It also provides its customers with state-of-the-art, pre-press and design operations, leaflet and bindery capabilities as well as fulfillment and assembly services.
For complete news Go to http://www.shareholder.com/csk
Abitibi-Consolidated to Re-file its HART-SCOTT-RODINO Notification for Donohue Purchase
MONTREAL, March 13, 2000 - Abitibi-Consolidated Inc. (TSE:A, NYSE:ABY) today announced that it has withdrawn and intends to re-file its Hart-Scott-Rodino notification with the U.S. Antitrust Division of the Department of Justice in connection with its offers to purchase all of the outstanding Class A Subordinate Voting Shares and Class B Shares of Donohue Inc. (TSE:DHC) dated February 25, 2000.
For complete news Go to http://www.abitibiconsolidated.com/
HERCULES Pulp & Paper Division will Raise Prices Worldwide
WILMINGTON, DE, March 9, 2000 -- The Pulp and Paper Division of Hercules Incorporated (NYSE: HPC) has announced it will initiate overall global price increases of approximately 5%. The increases take effect April 1, 2000 for new customers and for all orders of new products by existing accounts. On June 1, the price increases will become effective across the board for all products and customers.
For complete news Go to http://www.herc.com
Sappi Papier Holding/Leykam-Mürztaler Merger
09 March 2000, Sappi announced today that the shareholders of Leykam Mürztaler present at that company’s extraordinary shareholder’s meeting held in Vienna today unanimously approved the merger of Leykam Mürztaler with Sappi Papier Holding and agreed to accept the Sappi offer of 32 EURO per share. Sappi also committed to pay an additional 3 EURO per share to the minority shareholders of Leykam Mürztaler after the transaction has been completed, providing that there are no procedural or valuation challenges instigated against the Sappi group restructuring.
For complete news Go to http://www.sappi.com/
Chesapeake Announces Acquisition Plans for North American Specialty Packaging Business
RICHMOND, Va.--(BUSINESS WIRE)--March 9, 2000--Chesapeake Corporation (NYSE:CSK - news) today announced plans to acquire Green Printing Company, Inc., a specialty packaging producer and printer in Lexington, North Carolina, founded in 1892 by John Zebulon Green, Sr.
For complete news Go to http://www.shareholder.com/csk
Madison Paper Industries Announces $52 Million Capital Investment Plan
MADISON, Maine--March 8, 2000--Madison Paper Industries (MPI), a leading producer of high quality supercalendered paper, announced a major capital investment program for the rebuild and upgrade of its No. 3 paper machine. Commenting on the announcement, Leroy J. (Roy) Barry, President and C.E.O., stated, ``This major investment in technology is in response to increasing demand for Madison's high-quality, Symmetry® brand supercalendered paper and Madison's commitment to satisfy its customers' increasing requirements for the highest quality supercalendered paper.''
For complete news Go to http://www.madisonpaper.com/
Sappi and Unisource Form Strategic Alliance
BOSTON--(BUSINESS WIRE)--March 7, 2000--Sappi Fine Paper North America announced today a national partnership with Unisource, the nation's largest paper merchant. The partnership will provide printers across the United States with increased availability and faster delivery of Sappi's fine papers--the broadest range in the industry--including coated woodfree, uncoated and imported grades. Sappi's complete line of papers will be stocked in all 105 Unisource warehouses across the U.S. Unisource will begin to sell Sappi's full line of papers on April 17.
For complete news Go to http://www.sappi.com/
Kimberly-Clark Comfortable With Range of Analysts' Estimates for First Quarter; Remains Confident in Delivering Double-Digit Growth in Earnings Per Share From Operations for the Full Year
DALLAS, March 7 /PRNewswire/ -- Kimberly-Clark Corporation (NYSE: KMB) today announced that it is comfortable that earnings per share from operations will be within the range of 76 cents to 80 cents per share as estimated by analysts for the first quarter of 2000, representing an increase of up to 11 percent over the prior year. The company also said it remains confident that earnings per share from operations for the full year will increase at least 10 percent to $3.28 per share.
For complete news Go to http://www.prnewswire.com/cg
Pacifica Papers announces it will be implementing changes to the woodroom at its Powell River mill
VANCOUVER, March 6 /CNW/ - Pacifica Papers Inc. announced today that it will be implementing changes to the woodroom at its Powell River mill in order to improve both efficiency and productivity. The project will have an aggregate capital cost of approximately $6.0 million and includes installing and upgrading equipment to permit the mill to maintain production at current volumes with reduced operating shifts. When completed, the technological change resulting from the project is expected to reduce the mill's operating costs by more than $6.0 million annually, and is part of the Company's strategy to focus on low-to-modest capital investments with high returns.
For complete news Go to http://www.newswire.ca/
Harnischfeger Settles APP Disputes
MILWAUKEE, March 3 /PRNewswire/ -- Harnischfeger Industries, Inc. ("HII") (OTC Bulletin Board: HRZI) today announced the signing of a definitive agreement to settle disputes and related pending arbitration and legal proceedings with Asia Pulp & Paper Company Ltd ("APP"). The disputes arose out of the proposed sale by HII's Beloit Corporation ("Beloit") subsidiary of two fine papermaking machines to a subsidiary of APP. Under the settlement, APP will pay $135 million to Beloit and $16 million HII deposited with a bank with respect to related letters of credit will be released to HII. The $135 million is to be paid $25 million in cash and $110 million in a three-year note issued by an APP subsidiary and guaranteed by APP. The note is to be governed by an indenture and bear a fixed interest rate of 15%. The settlement is subject to the satisfaction of certain conditions, including U.S. bankruptcy court approval.
For complete news Go to http://www.harnischfeger.com/
Caraustar Industries, Inc. Announces Closing of Chesapeake Paper Board Mill
ATLANTA, March 1 /PRNewswire/ -- Caraustar Industries, Inc. (Nasdaq: CSAR) today announced that it has closed its Chesapeake Paper Board recycled paperboard mill in Baltimore, MD.
This decision was made after a careful and thorough study of Caraustar's current and future manufacturing needs for uncoated recycled paperboard. The plant closing is part of Caraustar's ongoing efforts to increase manufacturing efficiency and reduce costs.
For complete news Go to http://www.corporate-ir.net/
Weyerhaeuser to Close Four Packaging Plants
FEDERAL WAY, Wash.--(BUSINESS WIRE)--March 1, 2000--Weyerhaeuser Company (NYSE:WY - news) today announced it will close four corrugated packaging plants as part of its previously announced plans to consolidate operations and achieve savings following the acquisition of MacMillan Bloedel Limited.
The plants are located in Cleveland, Ohio; Houston, Texas; Jersey City, New Jersey and Rock Island, Illinois. The Houston, Jersey City and Rock Island plants are former MacMillan Bloedel facilities.
For complete news Go to http://www.weyerhaeuser.com
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