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The PM40 closed Friday, 13 September 2019, at 3106.

Get the latest PM40 updates by listening to the weekly Nips show and the PM40 Daily Show on Pulp & Paper Radio International.

The PM40 closed 13 September 2019 down 25.6% from the 14 September 2018 level.

In this issue of Disconnected Comparisons, we evaluate Graphic Packaging and Sonoco.

Reported insider trading since the last issue of PaperMoney.

Ladies and gentlemen, the first class of inductees to the Paper Industry International Hall of Fame in Appleton, Wisconsin was inducted more than two decades ago in 1995, and today, more than 139 papermaking innovators and legends have been enshrined. This month, we profile the late Frank Sensenbrenner, who was inducted into the Hall of Fame in 1998.

Kadant Johnson LLC, a subsidiary of Kadant Inc. (NYSE: KAI), has expanded its Services division to enhance its offerings to the paper and corrugated packaging industries.

The start-up is planned for October 2020.

The total value of the order is around Euro 50 million.

Valmet will supply a board machine with an extensive automation and Industrial Internet package for JK Paper Limited's Fort Songadh Mill in India.

Lecta is expanding its Adestor self-adhesive product portfolio with the launch of a new range of rubber-based Adestor Hot-Melt adhesives for excellent performance in these applications.

Verso Corporation introduced a new promotion for its economy coated paper, Anthem Plus®, titled Anthem Plus®. Solid Performer.

A scheduled week-long shutdown for maintenance at Prince George Pulp and Paper will be followed by a two-week closure in response to weak prices for its product, a Canfor Pulp spokesperson confirmed Wednesday.

Interfor Corp. plans to permanently close its Hammond sawmill in Maple Ridge, B.C., affecting more than 100 workers.

If realized, the measures would result in a reduction of 265,000 tonnes of SC capacity and 240,000 tonnes of newsprint capacity in UPM's portfolio.

West Fraser Timber Co. Ltd. says it will introduce variable operating schedules at five of its British Columbia sawmills, resulting in an estimated 15 to 25 per cent decrease in production.

Businessman Gary McGann has lost an appeal against tax treatment on two payments totalling €2.3 million which he claimed were a gift from SmurfitKappa's shareholders during his time as chief executive.

The Town of Fort Frances is trying to seize some heavy equipment belonging to the new owners of the former Resolute Forest Products sawmill in an effort to recover unpaid taxes.

Georgia-Pacific will invest up to $70 million to upgrade its plywood and lumber operations here adding advanced, innovative technology and systems, and helping sustain the more than 700 jobs at the facilities.

AstenJohnson has announced the end of the proposed transaction to merge the Heimbach and AstenJohnson PMC businesses.

Quad/Graphics, Inc. announced that it has sold its heavy-duty industrial wood crating business Transpak to FCA Packaging, a nationwide leader in the custom industrial packaging solutions space.

Demolition work has started at a landmark paper mill in northern New Jersey that was destroyed in a massive fire that also toppled its iconic sign earlier this year.

Interfor Corporation announced that long-time President & CEO Duncan Davies will step down on December 31, 2019 and that Ian Fillinger, currently the Company's Senior Vice President & COO, has been appointed President & CEO effective January 1, 2020.

A preliminary accident report reveals what happened in the moments before a plane carrying employees of a metro Atlanta-based paper and packaging company crashed and burst into flames in California last month.

WestRock Company announced Monday that it is reconfiguring its North Charleston, SC, paper mill to improve the mill's operating efficiency and long-term competitiveness.

Management Resources

As many as 10,000 tree seedlings have been planted on degraded land in Riau province by giant paper producer Asia Pulp & Paper (APP), a subsidiary of Sinar Mas Group.

Pregis LLC, a leading protective packaging materials and automated systems manufacturer, has received a Forest Stewardship Council® (FSC®) Chain of Custody, FSC Recycled certification for its Easypack paper portfolio.

Sofidel has decided to abandon use of disposable plastic items in its workplaces.

The EcoSeal paperboard container joins Sonoco's growing EnviroSense™ family of sustainable packaging.

Sonoco announced the creation of its new EnviroSense™ sustainable packaging initiative. Crossing a range of packaging materials, including cans made from 100-percent recycled paperboard, rigid plastic packaging containing post-consumer recycled content, mono-material flexible pouches that are recyclable, and innovative packaging made from agricultural fibers, EnviroSense products are designed to incorporate a number of elements associated with more sustainable packaging.

Fortress Global Enterprises Inc. announces that its wholly owned subsidiaries, Fortress Specialty Cellulose Inc. and Fortress Bioenergy Ltd. have entered into a financing agreement with their secured lenders or their affiliates, providing for a senior secured credit facility in the amount of up to $15,000,000.

A man is dead after he was doing contract work at Lewiston's Clearwater Paper mill on Monday and had to be taken to the hospital.

Workers are dismantling long-dormant equipment at the McKinley Paper Co. mill to make way for $6.1 million in improvements as the company looks toward reopening the facility by Dec. 31.

Norbord Inc. announced that effective September 5th, Line 1 of its two-line oriented strand board (OSB) mill in Cordele, Georgia will operate on a reduced 10/4 schedule until further notice due to continued poor market conditions.

Smurfit Kappa Group appointed Eduardo Rubio CEO for Smurfit Kappa North America (SKNA) beginning October 1.

A Sonoco employee injured Sunday in an accident at the company's Hartsville Manufacturing Complex is still undergoing treatment for burns he suffered in the incident, the company said.

Union chief Greg Harvey said no news of a potential sale of the former Verso Corp. paper mill has emerged so far this summer.