|
|
The recent financing, which includes new capital investment and amendments to the Company's credit facilities, was completed in collaboration with the Company's existing lenders and has substantially bolstered the Company's cash liquidity position.
Under the terms of the agreement, Suzano will acquire a 15 percent stake in Lenzing from B&C and the two shareholders will form a long-term syndicate which will hold the majority stake (52.25 percent) in the company. Subject to the closing of the transaction, B&C will hold a 37.25 percent stake in Lenzing and keep the role as controlling member of the new syndicate, with Suzano holding the minority stake of 15 percent. The price per share will be EUR 39.70, with a total acquisition purchase price of EUR 230 million to be fully paid at closing.
Smurfit Kappa, Europe's largest paper packaging producer has invested over €30 million across two projects in Spain to further reduce CO2 emissions.
Starkraft, a business unit of Heinzel Pöls, part of the Heinzel Group, announces the successful launch of its PM6 at the Steyrermühl paper mill in Austria, marking a significant milestone in its journey towards enhanced productivity and global expansion. With this strategic investment, Starkraft elevates its production capacity to a total of 350,000 tons of kraft paper per year.
Sappi say the company's most recent three-year contract offer included wage increases, retirement plan improvements and a signing bonus but said a majority of the 150 union workers represented by the National Conference of Firemen and Oilers Union turned down the company's offer and have voted to authorize a potential strike.
Analysts from Jefferies are predicting a potential cash offer for IP in the range of $54-57 per share, a figure that aligns with previous investor expectations. However, IP's board may value the company significantly higher.
Sustana, an innovator of clean materials and the industry-leading producer of sustainable, recycled fiber-based products and services, announced the appointment of Nathan Jeppson as Chief Executive Officer, succeeding Fabian de Armas. Mr. Jeppson brings more than 20 years of leadership experience driving growth and innovation at premier manufacturing, industrials, and materials businesses, including global roles at Shell Chemical LP and Dow.
SMC Packaging Group operates across multiple locations in Missouri, Arkansas, and Oklahoma.
PaperWorks Industries Inc., formerly Boehmer Box, is thrilled to announce the celebration of its 150th Anniversary on Saturday, June 22, from 10 AM to 2 PM at 120 Trillium Drive. This milestone event will honour the company's rich history and significant impact on the Kitchener-Waterloo region.
Ahlstrom, in its ongoing dedication to addressing the global need for clean air and water, has successfully completed a EUR 2 million investment for a new laminator at its Louveira plant in Brazil.
Norske Skog will initiate a main study aiming to enter the bleached chemi-thermomechanical pulp (BCTMP) market by starting production at Norske Skog Saugbrugs in Halden, Norway.
Smurfit Kappa, one of the world's leading providers of sustainable packaging solutions, has announced it has signed an agreement to acquire Artemis Ltd., a Bag-in-Box packaging plant located in Shumen, Bulgaria.
After a three-year battle in court, lawyers for New-Indy Catawba LLC; parent company New-Indy Containerboard LLC and roughly 6,000 plaintiffs have reached settlement agreements of about $103 million.
Texas-based solar project propels WestRock's pursuit of its science-based targets to reduce greenhouse gas emissions.
International Paper Co.'s top boss traveled to London to reaffirm his company's commitment to merger partner DS Smith Plc, downplaying a takeover offer from Suzano SA that threatens to derail their pending $7.4 billion deal, according to people with knowledge of the matter.
The Company has activated its contingency plan including leveraging its 9 other plants in its network to ensure the ongoing supply of tissue products to its customers.
Crews were on the scene of a fire May 30 at Sonoco in Hartsville, according to Hartsville Fire Chief Jeff Burr.
On May 30, 2024, Twin Rivers Paper Company Inc. was fined $250,000 in New Brunswick Provincial Court after pleading guilty to one charge of contravening subsection 36(3) of the Fisheries Act by permitting the deposit of a deleterious substance, namely pulp and paper process water called groundwood white water, into the Madawaska River. The fine will be directed to the Government of Canada's Environmental Damages Fund.
Huhtamaki has decided to consolidate its three Flexible Packaging manufacturing sites in the United Arab Emirates, keeping one factory in Jebel Ali and expanding the one in Ras Al Khaimah. The transition will gradually take place during the second half of 2024.
After 14 years as president and chief executive officer (CEO) of Tolko, and over 40 years with the company founded by his grandfather Harold, Brad Thorlakson has transitioned to the role of executive chair of the board. Further to Brad's transition, Pino Pucci has assumed the role of president and CEO.
Irving Pulp & Paper, Limited has submitted a preliminary application to undertake a major upgrade to Saint John's westside pulp mill, representing a new long-term capital improvement plan and a potential $1.1-billion investment.
UPM Communication Papers plans to permanently close its Hürth newsprint mill and to shut down one fine paper machine at Nordland Papier (PM 3) in Dörpen, both assets located in Germany.
Progroup takes over site of Sappi Stockstadt GMBH in Germany. The current plan is for a state-of-the-art plant for sustainable production of containerboard to be operating by the end of the decade, creating roughly 200 jobs.
Gov. Brian Kemp announced a company that makes baby diapers and other items will be investing $418 million to expand its footprint in Bibb County and create 600 new jobs.
The company received the $12 million in exchange for job creation in late 2014. To receive the funds, the company was required to employ a minimum of 800 full-time employees for the duration of the 10-year contract.
|
|
|
|
