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The PM40 closed Friday, 15 August 2025, at 5430.

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 15 August 2025 down 2.9% from the 16 August 2024 level.

In this issue of Disconnected Comparisons, we evaluate Quad and Smurfit Westrock .

The Trump Administration's executive orders cut across dozens of industries. This searchable tool breaks down the orders and their impact.

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 150 papermaking innovators and legends have been enshrined. This month, we profile Harold Miller who was inducted into the Hall of Fame in 2024.

What is your decision point in driving vs. flying for business trips?

A.Celli Paper is now officially part of the Andritz Group. A.Celli Group and A.Celli Nonwovens remain fully independent, owned by the Celli family.

Greece's leading tissue manufacturer selects ABB technology package for existing and new tissue machines at its Inofyta facility.

Röchling Industrial Oepping GmbH & Co. KG, a specialist in high-quality functional components and a leading partner in the international paper industry, has acquired the industry-leading EZ eco smart fabric cleaning technology effective August 1, 2025.

Lecta Self-Adhesives has expanded its range of film materials with the launch of Adestor Clear on Clear, a new label that incorporates a next-generation adhesive with maximum transparency, ideal for applications with high visual impact and complex technica l requirements.

Four innovative start-ups selected for solutions that provide barriers for compostable substrates.

PotlatchDeltic takes our governance principles seriously to ensure that we run our business in an ethical and transparent manner, and we expect the same from our suppliers and contractors.

Huhtamaki took a significant step toward expanding its growth within the molded fiber industry, specifically for egg cartons and egg flats, on April 23 with the acquisition of Zellwin Farms in Zellwood, Fla. Now, 100 days into the integration, both companies are seeing a successful transition with a focus on safety, efficiency, and collaborative innovation.

Metsä Board, part of Metsä Group, has been recognised by CDP for its work to engage with suppliers to jointly tackle climate change.

Five of the world's 10 busiest airports use Tork technology for cleaning.

Boise Cascade Company reported net income of $62.0 million, or $1.64 per share, on sales of $1.7 billion for the second quarter ended June 30, 2025, compared with net income of $112.3 million, or $2.84 per share, on sales of $1.8 billion for the second quarter ended June 30, 2024.

For the second quarter of 2025, the Company reported an operating loss of $5 million and a net loss of $7 million, equivalent to $0.10 per share.

Operating income of $36 million (compared with $50 million in Q1 2025 and $34 million in Q2 2024)

Interfor recorded net earnings in Q2'25 of $11.1 million, or $0.22 per share, compared to a net loss of $35.1 million, or $0.68 per share in Q1'25 and a net loss of $75.8 million, or $1.47 per share in Q2'24.

The company's bottom line totaled $54 million, or $0.77 per share. This compares with $160 million, or $2.23 per share, last year.

Confirming post-merger adjusted free cash flow and Adjusted EBITDA range.

The Alpharetta, Georgia-based company said it had a loss of 18 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 33 cents per share.

Mercer International Inc. reported Q2 2025 operating EBITDA of negative $20.9 million, a decrease from positive $30.4 million in the same quarter of 2024 and $47.1 million in the Q1 2025.

Suzano, the world's largest pulp producer, announces its results for the second quarter of 2025 (2Q25), reporting sales of 3.7 million tonnes of pulp and paper. Sales increased 28% over the same period in 2024 (2Q24), mainly reflecting the strong operational contribution of the new Ribas do Rio Pardo pulp mill, whose production started in July 2024. Net revenue in the quarter totaled R$13.3 billion, a 16% increase compared to 2Q24.

Loss from Continuing Operations for the second quarter of $366 million, inclusive of a $337 million non-cash Canadian deferred tax asset write-off.

Second quarter net income attributable to Rayonier of $408.7 million ($2.63 per share), pro forma net income of $9.6 million ($0.06 per share), and Adjusted EBITDA of $44.9 million.

Rottneros has decided to write down the value of fixed assets in Rottneros Mill. The reason is that the mill cannot utilize its full capacity in the prevailing weak market for the mechanical pulp CTMP. The impairment charge amounts to SEK 140 million.

Sappi reported a $33 million loss for the third quarter to June 2025, versus a $51m profit at the same time last year, but a better result is anticipated in the fourth quarter, CEO Steve Binnie said Thursday.

Net loss was $17.4 million in the second quarter of 2025, as compared to a net loss of $5.7 million in the second quarter of 2024, and net income of $13.8 million in the first quarter of 2025.

Xampla has announced that Huhtamaki's Taste hot food boxes, featuring the material innovation company's Morro coating, are now available at Bunzl UK & Ireland.

Chemours, DuPont and Corteva have agreed to pay $875 million over 25 years to the State of New Jersey to settle environmental claims including pollution linked to PFAS, or "forever chemicals", the companies said on Monday.

Rayonier Advanced Materials Inc., a U.S. and global leader of cellulose-based technologies, together with the United Steel Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union AFL-CIO ("USW"), announced the filing with the US Department of Commerce ("USDOC") and the US International Trade Commission ("USITC") of parallel antidumping and countervailing duty petitions on Brazil, and an antidumping petition on Norway, concerning U.S. imports of High Purity Dissolving Pulp ("HPDP").

The largest and most modern consumer packaging board production line in Europe was inaugurated on 18 August in Oulu, Finland. Stora Enso's Oulu unit serves the growing demand for renewable packaging globally and contributes to the transition to a circular bioeconomy. At the same time, the production site supports Finland's competitiveness and increases exports with products of higher added value.

UPM Adhesive Materials, formerly known as UPM Raflatac, is investing in a new, state-of-the-art coating line and other facility and material handling upgrades in its label material factory in Johor Bahru, Malaysia.

Bain Capital is evaluating strategic options for Ahlstrom, the Finnish specialty materials manufacturer, including a potential sale or initial public offering that could value the business at up to €8bn, according to a report by Bloomberg citing sources familiar with the matter.

This transaction, which includes over 173,000 acres of timberlands across the Southeastern United States, follows Greif's previously announced intent to divest the business as part of its strategic portfolio optimization. The deal is expected to close shortly before or after the Company's fiscal year end, subject to customary closing conditions.

The International Society of Automation (ISA) -- the leading professional society for automation -- has announced the program for the 2025 ISA Automation Summit & Expo (ASE) this fall at Disney's Coronado Springs Resort in Lake Buena Vista, FL.

Carmichael joins Kimberly-Clark after three decades at Nestlé, most recently serving as President and CEO of Nestlé Canada, where he oversaw a broad portfolio that included ice cream, coffee, beverages, water, confectionery, nutrition and pet care.

The paper and paper-based packaging industry's national research and promotion program, administered by the Paper and Packaging Board (P+PB), will not continue following the results of the July continuance referendum vote.

Novolex®, a leading manufacturer in the food and beverage packaging industry, announced that James "JT" Jones has been appointed Chief Procurement Officer (CPO), effective August 11, 2025. In this role, Jones will be responsible for leading the company's global procurement team, processes and strategy. He will be based in Lake Forest, IL and will report to Novolex Chairman and CEO, Stan Bikulege.

Sappi Europe has announced the initiation of a consultation process at its Kirkniemi Mill in Finland as part of a proposed asset restructure. This step is being taken in response to a structural decline in demand across Europe and sustained financial challenges. The proposed changes are intended to ensure long term competitiveness in the Graphic Paper Market and align production capacity with changing market dynamics and customer needs.

Smurfit Westrock will close in early October, according to the Iowa WARN site.

Due to prolonged weak profitability and the uncertain market outlook, Metsä Group is to initiate the planning of a significant cost savings and profit improvement programme. The aim of the programme is to achieve annual cost savings of approximately EUR 300 million, which are expected to be implemented gradually from 2026.

Canada is allocating $45.7 million to advance wildfire science, improve risk assessments, and strengthen community resilience through 30 projects nationwide. The investment supports both research initiatives and Indigenous-led fire stewardship, with $41.7 million directed to 20 research and demonstration projects and $3.9 million to 10 Indigenous-led projects, according to Natural Resources Canada.

Tetra Pak has joined the top 1% of companies achieving the highest possible rating in latest EcoVadis assessment.

Tom Erik Foss-Jacobsen assumed his position as Borregaard's new CEO on 1 August.

A fire at the Domtar facility located in Plymouth on Sunday, August 3 was successfully extinguished. The blaze broke out on the wood yard chip conveyor and the structures supporting it, according to a social media post by the Plymouth Volunteer Fire Department. Crews cleared the scene around 3 p.m.

An investigation had determined the fire was accidental. No injuries were reported.

Kruger has temporarily stopped operations at its Corner Brook pulp and paper mill in Newfoundland and Labrador, eastern Canada, due to wildfire emergency measures introduced by provincial authorities in areas facing very high and extreme fire risk.

In this newly created role, Cobb will lead the development and execution of LP's commercial strategy, working in close partnership with the company's Sales, Supply Chain, and Customer Experience teams. She will oversee brand management, product innovation, and commercialization initiatives designed to drive demand and deepen customer engagement.<

Actis-Grande joins Sealed Air following a five-year tenure as Executive Vice President and Chief Financial Officer of MSC Industrial Supply Co. (NYSE: MSM).