This page contains pulp and paper industry news for March 2001

Web www.paperonweb.com

NEWS MARCH 2001

Georgia-Pacific To Permanently Close Pulp Mill At Bellingham, Wash. 

ATLANTA, Georgia. March 30, 2001 -- Georgia-Pacific Corp. today announced it will permanently close its already-idled pulp mill and associated chemical plant at Bellingham, Wash., following a review of their long-term viability. Those operations have been temporarily closed since December due to high electric power costs. 

The adjoining tissue paper and converting facilities at Bellingham will continue operating with temporary electric generators while Georgia-Pacific searches for other sources of affordable electric power. The tissue operations will be included in the continuing integration analysis of Georgia-Pacific and former Fort James operations as the company seeks to maximize synergies across its consumer products manufacturing system. The tissue paper and converting operations have been powered by temporary generators since January.

 "This decision was driven primarily by the high cost of the pulp operations at Bellingham compared with the lower-cost pulp available within the Georgia-Pacific system, including additional pulp supplies now available from mills acquired in the Fort James deal," said Lee M. Thomas, executive vice president - consumer products. "The current, unanticipated West Coast energy crisis has significantly raised the cost of energy for the mill and, beginning in December, caused the shutdown of the pulp mill and other operations within the facility. The decision has been made to permanently close the pulp mill and chemical facilities now versus sometime in the future."

For complete news Go to http://www.gp.com/

Pope & Talbot Announces Intention to Acquire Mackenzie Pulp Mill From Norske Skog Canada

PORTLAND, Ore., March 29 /CNW/ -- Pope & Talbot, Inc. announced today the signing of a definitive agreement to acquire the Mackenzie pulp mill from Norske Skog Canada for an estimated Canadian $163 million or approximately US $104 million. The purchase price will be paid with Canadian $123 million or approximately US $78 million in cash and 1,750,000 shares of Pope & Talbot common stock. The transaction is expected to close on May 31, 2001 and is subject to normal course regulatory filings and other customary conditions.

The Mackenzie pulp mill, located in Northern British Columbia, has an annual capacity of 230,000 metric tons of Northern Bleached Softwood Kraft (NBSK) chip and sawdust pulp. The Mackenzie pulp mill was built in 1972 and was significantly modernized in 1996 with the addition of sawdust digesting production capabilities. In 2000, revenues were Canadian $170 million or approximately US $108 million.

For complete news Go to http://www.corporate-ir.net

International Paper Expects Lower First Quarter Earnings 

PURCHASE, N.Y., March 29 /PRNewswire/ -- International Paper announced today that first-quarter earnings will be lower than current estimates as a result of the economic downturn, high energy costs and continued strong U.S. dollar, which is curtailing exports and fostering imports. Earnings for the first quarter 2001 are expected to be in the area of $.05 per share.

 John Faraci, executive vice president and chief financial officer, will discuss first-quarter conditions in a webcast at 2 p.m. EST today. It can be accessed at http://investor.internationalpaper.com, under the heading "1Q 2001 Market Update." Persons who wish to listen to the live webcast must pre-register, beginning at noon.

 To manage International Paper's inventories, the company continued to aggressively match its supply to customers' demands and took significant downtime in the first quarter. This market-related downtime amounted to about 500,000 tons in the first quarter for a cost of about $60 million.

For complete news Go to http://www.internationalpaper.com/

Good Housekeeping Institute Rates Kimberly-Clark's Paper Towels as Tops 

Kleenex Viva Towels Rated Best Overall; Scott Towels Rated Best Buy 

DALLAS, March 27 /PRNewswire/ -- Kleenex Viva paper towels and Scott paper towels this month received the Best Overall and Best Buy ratings respectively, by textile experts from the Good Housekeeping Institute. Kimberly-Clark Corporation (NYSE: KMB) manufactures and markets both towels.

 "We're pleased that our paper towel brands rated so highly in the Institute's tests," said David Deising, marketing director for the Scott and Viva brands. "We've always said that Viva paper towels perform better than other paper towels, and Scott paper towels with ridges have a great combination of performance and value. Kimberly-Clark strives to produce superior-performing products at a fair price, and this test confirms we are meeting that commitment to consumers.

For complete news Go to http://www.prnewswire.com/ 

Production Curtailment in Asia by Norske Skog

Pan Asia Paper Company, where Norske Skog has a 1/3 ownership stake, announced yesterday that newsprint production will be curtailed by some 35,000 tonnes. The release from Pan Asia follows below.

New Release from Pan Asia:

Pan Asia Paper will curtail Newsprint Production

Singapore, 26 March 2001 -- After a year of spectacular growth in 2000 newsprint demand in Asia was somewhat weaker in Q1 2001 due to a slowdown in economic growth. Anticipated growth in real consumption and limited capacity increases continue to indicate an overall positive picture for Newsprint in year 2001 and onwards in Asia. However, current inventory adjustments at customers have led to a temporary imbalance in our orderbook at our Korean mills. In order to restore this balance Pan Asia will curtail its newsprint production volume in Korea by some 35,000 tons over the coming months.

Norske Skog: Restructuring in Canada - Buy Pacafica

March 26, 2001 Norske Skog Canada Ltd., where Norske Skog has a 50.8 % shareholding, has entered an agreement to acquire Pacifica Papers. The combined company will be the third largest producer of newsprint and other wood-containing papers in North America, with annual pulp and paper capacity of 2.7 million tonnes and pro forma revenue of CAD 2.5 billion (NOK 15 billion) in 2000. The acquisition is recommended by the board in Norske Skog and the boards of Norske Skog Canada (NSCL) and Pacifica. It is subject to final approval by shareholder meetings in NSCL and in Pacifica. The board of NSCL has also proposed to pay a special contribution of CAD 12 per common share. Norske Skog’s share of this contribution, approx. NOK 4.5 billion (CAD 750 million), will be used for down payment of debt.

Through this deal, we do an important restructuring of the paper industry in British Columbia, just a few months after we acquired the majority shareholding in NSCL, said Jan Reinås, CEO of Norske Skog.- There has been a significant profit improvement in NSCL over the last quarters, and the combination of NSCL and Pacifica will further increase this potential. The acquisition of Pacifica will add value to our shareholders, Jan Reinås said.

A combination of NSCL’s and Pacifica’s activities offers significant synergies of approx.CAD 60 million, said Russell J. Horner, president of Norske Skog Canada.

The combined company, which shall retain the name Norske Skog Canada, will be the leading producer of publication paper on the west coast of North America. Norske Skog will be the biggest shareholder in NSCL, and NSCL’s strong affiliation with Norske Skog will continue, among other things with exchange of best practice. The bid from NSCL indicates a value of around USD 700 per tonne for Pacifica’s assets, which is an attractive price. The transaction is expected to be earnings accretive in the first 12 months following the combination.

The shareholders of Pacifica will be offered 2.1 shares in NSCL for each Pacifica share, alternatively 1 share in NSCL plus CAD 7.50 in cash. Norske Skog will have around 36 % of the shares in the combined company. The deal is expected to close in June 2001, and NSCL will be treated as an affiliated company in Norske Skog’s consolidated accounts as from 3rd quarter of 2001.

For complete news Go to http://www.norskeskog.no/

Norske Skog Sells Tasman Pulp

March 26, 2001 Norske Skog has today reached an agreement to sell the Tasman Pulp mill at Kawerau, New Zealand, to Carter Holt Harvey. The agreed price is USD 130 million (NOK 1,170 million), which is in line with the book value of Tasman Pulp. The completion of the transaction is scheduled for 30 April, 2001. An additional payment of up to USD 10 million (NOK 90 million) due to a profit split agreement will become payable depending on the development of global pulp prices over the next two years.

The deal has been approved by both the Carter Holt Harvey and the Norske Skog boards and the New Zealand Commerce Commission.

- The divestment of Tasman Pulp is in line with our strategy of concentration on the core business publication paper world-wide, said Jan Reinås, CEO of Norske Skog. – During the five month period August – December 2000, Tasman Pulp recorded a gross operating profit of NOK 348 million, which is a margin of 51 %. We have now sold it at book value, meaning a very good return in the short period under Norske Skog’s ownership. It is among the best performing pulp mills in the world, and we believe Carter Holt Harvey has the necessary operational focus to help the mill realise its full potential.

Tasman Pulp has a capacity of 285,000 tonnes of sulphate pulp. The new owner, Carter Holt Harvey, is the second largest company in New Zealand, with large activities within forestry, building materials and pulp and paper in New Zealand and Australia.

For complete news Go to http://www.norskeskog.no

Uniforêt Extends Downtime at its Port-Cartier Pulp Mill Until June 4, 2001

ST-LEONARD, Quebec, March 23 /CNW/ - Uniforêt has announced that the downtime in production at its Port-Cartier pulp mill started on February 16 is extended again until June 4, 2001. This measure is seen as necessary because of the weak conditions that persist on the pulp world market.

The extended suspension of production will further reduce the mill's output by roughly 36,100 metric tons. Altogether, the suspension will cut production by 61,900 metric tons, or 30.9% of the mill's estimated pulp output for 2001. Some 100 jobs are directly affected by the suspension. Port-Cartier sawmill operations will not be affected by the extended suspension of production at the pulp mill.

Uniforêt Inc. is an integrated forest products company that manufactures softwood lumber and bleached chemi-thermomechanical pulp (BCTMP). The company operates in Quebec through its subsidiaries located in Port-Cartier (pulp mill and sawmill) and in the Péribonka region (sawmill). Uniforêt Class A Subordinate Voting shares are listed on the Montreal and Toronto stock exchanges under the symbol UNF.A, along with Series A Debentures under the symbol UNF.DB.

For complete news Go to http://www.newswire.ca/

Norske Skog Canada and Pacifica Papers in Negotiations

VANCOUVER, March 21 /CNW/ - Norske Skog Canada announced today that it is in negotiations with Pacifica Papers Inc. with respect to the possible acquisition of Pacifica by Norske Skog Canada.

Norske Skog Canada's president and chief executive officer, Russell J. Horner, said that neither company would be commenting further unless warranted by new developments. There is no assurance that the negotiations currently underway will result in an agreement between Norske Skog Canada and Pacifica Papers to effect a business combination.

For complete news Go to http://www.newswire.ca/

LP Issues First Quarter 2001 Results Update, Expect Lower Profit

Tuesday, March 20, 2001 Portland, Ore. - Louisiana-Pacific Corp. (NYSE: LPX) announced today that it expects first quarter 2001 financial results to be substantially below First Call estimates.

Operating results for the quarter have been affected negatively by the continued deterioration in pricing, imbalance between supply and demand and continued high energy costs. The normal seasonal improvement in demand and pricing has not yet developed. As a result, significant downtime is being taken at oriented strand board and lumber mills, further hurting costs. Factored into the net loss is a lower than expected tax benefit rate due to anticipated reduced earnings levels, the non-deductibility of goodwill and the potential loss of some of the Canadian investment tax credit carryforwards as discussed in LP's recently filed Annual Report on Form 10K. As a result, LP expects net operating results for the first quarter to be in the range of a $0.80 to $0.90 per share loss compared to current First Call estimates of a loss $0.48 per share.

Accounting standards require that the estimated effective income tax rate (based upon estimated annual amounts of taxable income and expense) for the year be applied to year-to-date income or loss at the end of each quarter. This requires estimates of annual product pricing, volumes and costs. As with all estimates, there is significant risk of error due to actual market dynamics versus those estimates. Based upon current annual estimates, LP would record a tax benefit rate between 15-20% for 2001. This rate compares to a tax benefit rate applied to losses in 2000 of 63% and a tax rate of 39% applied to income in 1999.

For complete news Go to http://www.lpcorp.com/

Stora Enso to dissolve Pulp Division

March 20, 2001 Stora Enso will dissolve its Pulp Division and transfer the pulp mills to other divisions. The non-integrated pulp mills will be reallocated as follows: - Celbi and Skutskär mills will be included in the Fine Paper Division - Norrsundet and Kemijärvi mills, and the 50% interest in the Sunila mill will be included in the Magazine Paper Division - Enocell mill will be included in the Packaging Boards Division.

The restructuring of the Pulp Division will not affect the operation of the pulp mills. The pulp balance will remain intact. Pulp sales, which will report to the Fine Paper Division, will continue its activities as before.

A pulp Competence Centre will be established in the Packaging Boards Division. The Competence Centre will work closely with all Stora Enso pulp mills.

Implementation of the reorganization will be started immediately and completed by 1 September 2001.

Stora Enso will report its financial results by product area according to the new organization effective from the beginning of 2001. Recalculated historical figures (1999 and 2000) will be published on 10 April 2001 with a separate stock exchange release for investors and analysts that follow Stora Enso.

Negotiations with trade unions have started.

For other news Go to http://www.storaenso.com/

Tembec Acquires 50% Interest in Excel Forest Products Limited

TEMISCAMING, March 19 /CNW/ - Tembec Industries Inc. announced today that it has acquired 50% interest in Excel Forest Products Limited, a sawmill located in Opasatika, Ontario (40 km west of Kapuskasing, Ontario).

The sawmill has been in operation since 1976 and was upgraded in 1997 and 1998 to two sawlines, which include a high recovery small diameter line and a large diameter line. It produces approximately 85,000 Mfbm of softwood lumber annually and currently employs 105 employees.

Excel Forest Products also signed an agreement appointing the Forest Products Group of Tembec Industries Inc. as the exclusive Marketing Agent for all lumber products manufactured by Excel Forest Products. With this agreement, Tembec will be bringing 1.5 billion board feet of softwood lumber to market annually.

For complete news Go to http://www.tembec.ca/

Canfor Corporation Reports Completion of Reorganization of Howe Sound Pulp and Paper Limited

VANCOUVER, March 13 /CNW/ - Canfor Corporation (CFP: TSE) reported that the previously announced reorganization by Canfor and Oji Paper Co., Ltd. of Japan of their joint venture, Howe Sound Pulp and Paper Limited, as a limited partnership has been completed. The partnership, to be known as Howe Sound Pulp and Paper Limited Partnership, will be jointly owned by Canfor and Oji, and carry on the existing operations of Howe Sound. The employment of all Howe Sound's present employees will be continued by the Partnership.

The reorganization was undertaken to enhance the economic viability of Howe Sound. Canfor has strengthened its fibre supply commitments and has agreed to make payments and contributions to the Partnership to a maximum of approximately $120 million. These amounts, including an initial payment of $60 million made at closing, will be used to reduce the long-term debt of Howe Sound assumed by the Partnership. As part of the reorganization, Howe Sound Pulp and Paper Limited, with approximately $630 million of tax losses, will be merged with Canadian Forest Products Ltd., Canfor's primary operating subsidiary. These losses will be available to reduce Canadian Forest Products' future taxable income.

For complete news Go to http://www.newswire.ca/

International Paper and Carter Holt Harvey to Invest 50 Percent Stake In Pacific Millennium Paper Group

HONG KONG, March 12 /PRNewswire/ -- International Paper (NYSE: IP) and Carter Holt Harvey (CHH) have joined to invest a 50 percent share in Pacific Millennium Paper Group (PMPG), a privately-held company conducting business in greater China, South East Asia, and San Diego, California. Pacific Millennium focuses on the fiber-based packaging industry, including distribution, packaging manufacturing, and paperboard manufacturing. The terms of the agreement are undisclosed. With 2000 sales of $350 million, the company employs 1,200 people. With International Paper's additional volume, Pacific Millennium's projected sales will increase by approximately 50 percent over the next two years.

For complete news Go to http://www.corporate-ir.net/

Bowater Announces Production Curtailment

GREENVILLE, S.C.\226-(BUSINESS WIRE)--March 9, 2001--Bowater Incorporated (NYSE: BOW - news) today announced that it will curtail approximately 60,000 metric tons of newsprint production through the end of May to correct anticipated domestic orderbook imbalances. The Company is now shipping newsprint production at higher pricing levels pursuant to its March 1 price increase.

Bowater Incorporated, headquartered in Greenville, SC, is a global leader in newsprint. In addition, the company makes coated and uncoated groundwood papers, bleached kraft pulp and lumber products. The company has nine pulp and paper mills in the United States, Canada and South Korea. These operations are supported by more than 1.8 million acres of timberlands owned or leased in the United States and Canada and over 14 million acres of timber cutting rights in Canada. The company is one of the world's largest consumers of recycled newspapers and magazines. Bowater common stock is listed on the New York Stock Exchange, U.S. regional exchanges and the London Stock Exchange. A special class of stock exchangeable into Bowater common stock is listed on the Toronto and Montreal exchanges.

For complete news Go to http://www.bowater.com/

Kruger Inc. Trois-Rivières Mill Takes Newsprint Production Downtime from March to May 2001

MONTREAL, March 7 /CNW/ - Montréal-based Kruger Inc. announces a reduction in the newsprint production at its Trois-Rivières Newsprint and Coated Paper Mill in the March-May time frame.

The downtime is required to realize major production and quality improvements on Paper Machines No. 1, 4, 7 and 10 and corresponds to approximately 12 000 metric tonnes of newsprint. These production and quality improvements will be completed by the end of the 2nd quarter of 2001.

Under continuous expansion to increase productivity and reduce costs, the Trois-Rivières mill produces an average of 1800 metric tonnes of paper per day: 55% newsprint, 25% coated paper and 20% specialty grades for magazines and advertising publications.

For complete news Go to http://www.newswire.ca/

Canadian Forest Industry Remains Profitable in 2000

VANCOUVER, March 7 /CNW/ - PricewaterhouseCoopers reported today that leading public forest and paper companies in both British Columbia and Eastern Canada remained profitable in 2000, despite extremely low lumber prices, and posted improved performance results over 1999. The B.C. companies had net earnings of $577 million in 2000, up from $419 million in 1999; while the Eastern Canadian companies had net earnings of $1.1 billion, up from $646 million (all figures in Cdn$ except where noted).

These results reflect the performance of the largest public forest and paper companies based in each region, and will be released today at PricewaterhouseCoopers' 14th Annual Global Forest Industry Conference. The assessment also includes performance results for the largest companies within the U.S. and on a global basis.

For complete news Go to http://www.newswire.ca

GL&V Ends its Bid to Acquire Operating Assets of Langston Corporation

Mar. 07, 2001 GL&V announces that it decided not to exceed the last bid submitted by another firm during the auction for certain operating assets of Langston Corporation, New Jersey. In September 2000, Langston Corporation filed for protection under Chapter 11 of the U.S. Bankruptcy Code with the Bankruptcy Court for the District of Delaware. Langston Corporation sold its operating assets to the other firm after completion of the auction and approval of the sale by the Bankruptcy Court. GL&V received a break-up fee of US$305,000.

For complete news Go to http://www.glv.com/

Fibermark Announces Agreement to Acquire Decorative Specialities International (DSI) from Rexam plc. and Plan for a $200 M Debt Offering

March 7, 2001 BRATTLEBORO, VERMONT-March 7, 2001- FiberMark, Inc. (NYSE:FMK) today announced the signing of an agreement to acquire Rexam Decorative Specialties International (DSI), the leading worldwide producer of latex-saturated decorative materials for specialty packaging, book production and publishing, printing and office products markets, from Rexam PLC, a global consumer packaging group. The purchase price is approximately $140 million in cash. The company anticipates financing the acquisition with a debt offering of $200 million, which will be used to fund the acquisition and refinance existing debt. The closing of the transaction, which is anticipated to occur within 30-45 days, is subject to certain contingencies, including government approval.

For complete news Go to http://www.fibermark.com

Uniforêt Extends Downtime at its Port-Cartier Pulp Mill: Sawmill to cut Back Also

ST-LEONARD, Quebec, March 6 /CNW/ - Uniforêt has announced that production at its Port-Cartier pulp mill, which was suspended on February 16, will not resume before April 2, 2001. This measure is seen as necessary as the result of a temporary slowing of demand for commercial pulp on the world market.

The extended suspension of production will further reduce the mill's output by roughly 11,800 metric tons. Altogether, the suspension will cut production by 25,800 metric tons, or 12.9% of the mill's estimated pulp output for 2001. Some 100 jobs are directly affected by the suspension.

Uniforêt has also announced that one shift at its Port-Cartier sawmill will be laid off for an indefinite period, effective March 5, 2001. The sawmill will continue operations with two shifts, while work in the planing mill will continue with three shifts as usual. Roughly 40 sawmill employees will be directly affected by this cut in production, as will some 75 forest workers in the weeks ahead. The cutback has become necessary because of the weak conditions currently prevailing in the lumber industry.

For complete news Go to http://www.newswire.ca/

Paperboard Industries International Inc. To Acquire Folding Carton Plant In Manitoba From Crown Packaging Ltd

VANCOUVER, KINGSEY FALLS, March 5 /CNW/ - Cascades Inc.'s subsidiary, Paperboard Industries International Inc. ("Paperboard"), has entered into an agreement with Crown Packaging Ltd. ("Crown") and its parent corporation, 428959 B.C. Ltd. (formerly Crown Packaging Holdings Ltd.) to acquire a folding carton plant in Winnipeg, Manitoba. The folding carton plant has an annual converting capacity of approximately 15,000 metric tons of boxboard. The folding cartons are primarily used in the packaging of food and beverage products. The transaction is expected to close on March 9, 2001, subject to certain pre-closing matters.

Crown has experienced a significant positive operational turnaround over the past three years with the Winnipeg Folding Carton Division being a major contributor to the turnaround. Crown is continuing the process of selling its U.S. divisions pursuant to its recent financial reorganization. Deutche Banc Alex. Brown acted as financial advisors to Crown with respect to the sale transaction.

The Winnipeg folding carton plant will be part of the Somerville Packaging Division of Paperboard and will be known as Somerville Packaging, Western Division. Its relationship with Paperboard will provide many synergistic benefits to its existing customers, as well as further develop new market opportunities. Paperboard will gain the additional flexibility to better service its folding carton customers across North America.

For complete news Go to http://www.newswire.ca/

Kruger Acquires Scierie Gallichan in Launay, Abitibi

(Launay, March 5, 2001) – Kruger Inc. met with the press this morning to announce the acquisition of Scierie Gallichan, a softwood sawmill located in Launay, near Amos in Abitibi, from the Coopérative forestière de la rivière Davy. This brings the total of Kruger’s wholly owned sawmills to five, making Kruger the fifth largest lumber producer in Québec.

The directors of Kruger’s Forests and Wood Products Division met with the employees of Scierie Gallichan upon their arrival at work to inform them of the transaction and transition process, which will take place over the coming weeks. “The acquisition of Scierie Gallichan will enable Kruger to develop new markets in Ontario and the United States, better meet growing customer demand for certain products and assure softwood supplies to its various mills” stated Roger Robitaille, Senior Vice-President, Forest and Wood Products Division of Kruger Inc.

Since its inception over forty years ago, Scierie Gallichan has been renowned for the quality of its products. The sawmill produces more than 75 million foot board measure of spruce and jack pine lumber products annually. The Association coopérative de travail de rivière Davy will continue to assure the supply and silvicultural activities of Scierie Gallichan on a contractual basis.

For complete news Go to http://www.kruger.com/

Abitibi-Consolidated's Thorold Newsprint Mill to Produce from 100% Recycled Content

$50 million to be invested in new de-inking plant

MONTREAL, March 5 /CNW/ - Abitibi-Consolidated Inc. announced today that it will invest $50 million over the next eighteen months at its Thorold (Ontario) mill to construct a new de-inking plant. The Thorold mill will then become the second and the largest newsprint mill in Canada to produce from 100% recycled fibre.

"This investment will not only simplify Thorold's pulping process, but will also reduce production costs and enhance the quality of the mill's newsprint", said Denis Jean, Senior Vice-President, Northern Newsprint Operations. "With 100% recycled newsprint in their supplier mix, our customers will be better able to meet minimum recycled content requirements in various markets," added Mr. Jean.

The costs of the project are included in the Company's previously announced stringent capital expenditure program. Construction of the new de- inking plant is scheduled to begin this spring and be operational in the summer of 2002. The mill has a production capacity of over 400,000 tonnes of newsprint annually and employs approximately 500 people.

For complete news Go to http://www.newswire.ca

Georgia-Pacific Completes Sale Of Commercial Tissue Assets To Svenska Cellulosa

ATLANTA, Georgia. March 02, 2001 -- Georgia-Pacific Corp. (NYSE: GP) today completed the previously announced sale to Svenska Cellulosa Aktiebolaget SCA (publ) of commercial tissue manufacturing operations that were part of a joint venture with Chesapeake Corporation known as Georgia-Pacific Tissue LLC.

Proceeds from the transaction will be used by Georgia-Pacific to repay debt. The sales price of approximately $852 million will result in after-tax proceeds to Georgia-Pacific of $661 million, following required payments to Chesapeake of $237 million to satisfy its deferred tax obligations and payment of its equity interest in the joint venture.

The sale satisfies an agreement between Georgia-Pacific and the U.S. Department of Justice that resolved the department’s anti-trust concerns associated with the company’s acquisition of Fort James Corp.

The operations sold to SCA include approximately 368,000 tons of tissue manufacturing capacity and associated converting facilities, and sales and marketing functions.

For complete news Go to http://www.gp.com/

Greif Bros. Corporation Announces Completion Of Van Leer Industrial Acquisition

Greif Closes Purchase of Van Leer Industrial for $555 Million

Acquisition Makes Greif the Global Leader In Industrial Packaging Products and Shipping Solutions

DELAWARE, Ohio, March 2 /PRNewswire/ -- Greif Bros. Corporation (Nasdaq: GBCOA/GBCOB) today announced completion of its purchase of the Van Leer Industrial packaging division from Huhtamaki Van Leer Oyj of Espoo, Finland (HEX: HVL1V) for $555 million, which includes the assumption of debt and other obligations. Greif and Huhtamaki announced the signing of a definitive purchase agreement for Van Leer Industrial on October 30, 2000 and an amendment on January 26, 2001.

With the purchase of Van Leer Industrial, Greif nearly doubles its revenue base and becomes the global leader in the industrial packaging products business, with approximately 200 locations, 11,000 employees and 19,000 customers in more than 40 countries.

"Combining Greif and Van Leer Industrial creates a stronger company focused on providing a wide range of packaging solutions for global as well as regional customers,'' said Michael J. Gasser, Greif chairman and chief executive officer. "Our first priority continues to be the acceleration of our historical growth rates by taking advantage of favorable opportunities in international markets.''

For complete news Go to http://www.greif.com/

Norampac Inc. To Acquire A Containerboard Mill and Paper Recovery Plants In British Columbia From Crown Packaging Ltd.

Montreal, Quebec, March 1, 2001 --- Norampac Inc. (“Norampac”) has entered into an agreement with Crown Packaging Ltd. and its parent corporation, 428959 B.C. Ltd. (formely Crown Packaging Holdings Ltd.) to acquire a containerboard mill and eight paper recovery plants from Crown Packaging Ltd. The containerboard mill, located in Burnaby, British Columbia, has an annual capacity of 130,000 metric tons of recycled corrugating medium. In addition to corrugating medium, Norampac plans to produce recycled linerboard and white top linerboard. The paper recovery plants are located in British Columbia, Alberta and Manitoba. They provide all the recycled paper needed by the mill and the excess volume collected over the mill's requirements is sold in the North American and Asian markets. The transaction is expected to close on April 2, 2001, subject to regulatory approvals.

With containerboard mills in France, the United States and Canada, Norampac will increase its presence across North America while improving its ability to supply its own corrugated box plants in Western Canada.

For other news Go to http://www.cascades.com/