Pixelle Specialty Solutions LLC (“Pixelle”), a leading manufacturer of specialty papers in North America, has signed a definitive agreement to acquire the carbonless rolls and security papers business of Appvion Operations, Inc.
The transaction is expected to close in April 2021 and will not include any Appvion production assets. Carbonless rolls formerly manufactured by Appvion will be manufactured by the Pixelle specialty papers mill in Chillicothe, OH, and security papers formerly manufactured by Appvion will be manufactured by Pixelle or Pixelle supply partners.
Commenting on the acquisition, Pixelle’s Chief Executive Officer Timothy Hess said, “As a leader in specialty solutions, Pixelle is well-positioned to incorporate this product portfolio into our business. Pixelle welcomes the opportunity to serve these customers, who we believe will benefit from our experience in providing these technically demanding grades.”
The acquisition expands the Pixelle product portfolio by building on Pixelle’s established brands of carbonless papers (ExcelOne® and Trans/Rite®) and adding DocuCheck® and DocuMark® security papers to Pixelle’s existing brand (Defensa®).
Pixelle was formed in 2018 by Lindsay Goldberg, a private investment firm that partners with business founders, families, and management teams to actively build their businesses. In its two-year history, Pixelle has built an industry-leading four-mill specialty paper platform with mills in Chillicothe, OH, Jay, ME, Spring Grove, PA and Stevens Point, WI. Lindsay Goldberg Affiliate Partner Steven Klinger, Executive Chairman of Pixelle, and his management team have more than 150 years combined experience in building high-performance paper businesses.
Commenting on the acquisition, Klinger said, “A key component of Pixelle’s strategy is to take actions that result in customers viewing Pixelle as an active, valued partner in growing customers’ businesses. Doing that well has developed Pixelle into the market leader it is today and enabled Pixelle to make acquisitions like this one. Pixelle is a great example of how we invest in, partner with, and actively build businesses.”
Mika Kekki has been appointed to act as interim Executive Vice President of UPM Communication Papers business area as of 1 August 2024. He assumes this role on top of his current duties and continues in his current role as Executive Vice President of UPM Plywood business area. Mika Kekki’s biographical details are available at the company’s website. The recruitment process for the Executive Vice President of UPM Communication Papers business area is ongoing. As communicated on 13 March 2024, Antti Jääskeläinen, the current interim Executive Vice President of UPM Communication Papers business area and Executive Vice President, UPM Raflatac business area, will leave UPM to take the role of President and CEO in the Finnish logistics and distribution company Posti Group Oyj. He will continue with his duties at UPM until the end of July 2024.
Second Quarter 2021 Financial Highlights: *Record revenue of $927 million increased 4 percent sequentially, driven primarily by 5 percent higher TiO2 average selling prices and 5 percent higher zircon average selling prices *Income from operations of $150 million; Net income of $77 million *TiO2 sales volumes increased 1 percent sequentially, driven by continued recovery led by North America and Europe *Zircon sales volumes continue to be very strong, but declined 5 percent sequentially from record first quarter levels as expected. Tronox achieved another record quarter of TiO2 volumes and key financial metrics including revenue, EPS, Adjusted EBITDA, and free cash flow. Second quarter revenue increased 4 percent sequentially, primarily driven by higher TiO2 and zircon average selling prices. TiO2 sales volume grew 1 percent sequentially led by growth in North America and Europe.
Since the beginning of June 2020, Dr. Kurt Maier (CEO of Heinzel Group) has been the new President of Austropapier, the Association of the Austrian Paper Industry. He succeeds Christian Skilich, who has represented the Austrian paper industry both nationally and internationally since 2018. With Kurt Maier, CEO of the Heinzel Group, a further high-profile board member and industry expert is now taking the lead in representing the interests of the paper industry. Born in Graz in 1961, he received his doctorate from Graz University of Technology in 1991. From 2005 to 2016 he was board member of Zellstoff Pöls AG, first as Chief Financial Officer, later as Chairman of the Board. He then moved to the Heinzel Group headquarter in Vienna, where he has been CEO since 2016.