Lecta to Increase 2-side CWF and UWF prices by 8%

UPM Raflatac, a global supplier of innovative and sustainable labeling materials, is strengthening its position and service capabilities in the Americas market with a new state-of-the-art two-meter slitter and increased production automation in its Mills River factory over the next two years. “We are excited about the ability to provide better service to our customers through improved capacity, capabilities and productivity. We are continually advancing our production sites to increase our output in the Americas and exceed quality benchmarks,” stated Tim Kirchen, Senior Vice President, UPM Raflatac, Americas.

The board of Directors of Norske Skogindustrier ASA has decided to file for bankruptcy at Oslo skifterett (Oslo bankruptcy court) today, Tuesday 19 December 2017. The board's decision is unanimous and is due to the fact that there is no longer a realistic opportunity to achieve a voluntary recapitalization solution for the Norske Skog group. The group's largest secured creditor, Oceanwood Capital Management Ltd (Oceanwood), has informed the board that it is not willing to support any such solution. The group's operational activities will continue in Norske Skog AS as normal with as little impact as possible from the bankruptcy proceedings of the listed Norske Skogindustrier ASA. The non-listed Norske Skog AS will be the new operating parent company of the Norske Skog group, and will continue the head office function that has been performed by Norske Skogindustrier ASA. The board and management of Norske Skogindustrier ASA have over an extended period worked hard to achieve a consensual recapitalization of the Norske Skog group and thereby avoid bankruptcy proceedings for the parent company. This work was well advanced and had broad support from the capital structure in October and November 2017. The board's decision to file for bankruptcy is therefore made with great disappointment that this goal was not achieved, said Christen Sveaas, Chairman of the board of Norske Skogindustrier ASA. Click Read More below for additional information.

Paper Excellence Canada announced the curtailment of operations at its pulp mill in Mackenzie, British Columbia targeting the final week of June 2020. Paper Excellence has substantially invested to improve mill operations since acquiring the Mackenzie facility in 2010. Despite best efforts by the company and its committed team of employees in Mackenzie, the COVID-19 global pandemic is having negative impacts on pulp markets creating conditions that no longer support the on-going operation of the mill. Furthermore, the deep fibre shortage in BC and the Mackenzie region have affected the mill’s competitiveness. This shortage was exacerbated by recent curtailment of sawmills in the Mackenzie region dramatically reducing economic fibre availability.