Rayonier Advanced Materials and Tembec Announce Clearance from Germany’s Federal Cartel Office

Rayonier Advanced Materials Inc. (NYSE: RYAM) (“Rayonier AM”) and Tembec Inc. (TSX: TMB) (“Tembec”) announced today that they have received notification of clearance from Germany’s Federal Cartel Office in connection with the previously announced proposed statutory arrangement under Section 192 of the Canada Business Corporations Act (the “Transaction”) involving the acquisition by Rayonier AM of all of the outstanding shares of Tembec (the “Tembec Shares”).

Subject to obtaining the approvals of the holders of Tembec Shares and the Québec Superior Court and other necessary approvals and clearances, as well as the satisfaction or waiver of the conditions to the Transaction, it is expected that the Transaction will be completed by the end of 2017.
http://tembec.com/en/Media/Press-Releases/rayonier-advanced-materials-and-tembec-announce-clearance-germanys-federal?section=investors

Related Posts

New!! NEUJET®silk 44 lb (65GSM)

We are excited to announce that Mondi has just added a new special paper to its NEUJET family of papers. This is the 65gsm 44# NEUJET® silk. This paper grade was specifically developed for the book publishing industry, with a very high PPI - 847, brightness – 99, Opacity - 90, and Caliper – 2.36 Pt. Mondi’s complete Neujet family includes the Neujet Silk premium, NEUJET Matte, NEUJET® silk & NEUJET® matte premium, with weights ranging from 65gsm (44#) through 7Pt, 9Pt, and 11Pt. 300gsm (111#Cover). The NEUJET® silk premium & NEUJET® matte premium lines also incorporate the HP ColorPRO technology. We are offering midrange fully treated paper lines of DNS CF (coated feel) & DNS® NF (Natural Feel). The DNS® CF (coated feel) line offers calendarized papers with a very smooth finish – thus “coated feel”. Weights offered here range from 70gsm (47#) up to 160gsm (60#Cover).

Kimberly-Clark Announces Executive Leadership Changes

Kimberly-Clark Corporation announced executive leadership changes in support of its global business strategy. Russ Torres, president of Kimberly-Clark Professional (KCP), has been named Group President of Kimberly-Clark North America. In his new role, Torres will lead Kimberly-Clark's North American consumer business, maker of many of the industry's most iconic brands, including Huggies, Kleenex, Cottonelle, and Depend. Torres will succeed Kim Underhill who is departing after 33 years with the company. A successor to Torres at Kimberly-Clark Professional will be named in the near future. Torres will continue to report to Mike Hsu, Kimberly-Clark Chairman and CEO.

Norske Skog: Continued growth in challenging containerboard markets

Norske Skog’s EBITDA in the third quarter of 2023 was NOK 327 million, a decrease from NOK 380 million in the second quarter of 2023. The main driver for the lower third quarter EBITDA was lower publication paper sales prices. The cash flow from operations in the quarter was NOK 173 million. Deliveries of packaging paper increased according to ramp-up plans, and Norske Skog Bruck received favourable quality feedback from customers. The Norwegian government proposed to increase the quota price floor for receiving CO2-compensation. “We are very pleased by the positive feedback from our containerboard customers, and that we are well underway to become one of the leading independent supplier of recycled containerboard in Europe. At the same time, we are maneuvering our mills to be as cost effective as possible. By the end of the fourth quarter 2023, Saugbrugs PM5, in addition to PM4, will produce and deliver quality SC magazine paper to our customers,” says Geir Drangsland, CEO of Norske Skog. Cash flow from operations was NOK 173 million in the quarter compared to NOK 353 million in the previous quarter, mainly due to lower EBITDA, receivable insurance compensation, and increased working capital. Operating earnings in the third quarter of 2023 were NOK 36 million compared to operating earnings in the second quarter of 2023 of NOK 146 million.
Back To Top
×Close search
Search