UPM Raflatac to showcase its new innovations in Graphics Solutions at FESPA Global Print Expo 2024

Sylvamo is announcing it reached an agreement and completed the sale of its Russian operations to Pulp Invest Limited Liability Company for $420 million. After foreign currency exchange rates and transaction fees, Sylvamo received approximately $390 million in cash proceeds. "We made a principle-based decision to exit Russia and believe Pulp Invest is the best option for our Russian colleagues and assets," said Jean-Michel Ribiéras, chairman and chief executive officer. "We intend to use $325 million of the proceeds to repay debt."

A hearing ended Monday after nearly seven hours of discussion, to decide the future of Appleton Coated and its more than 600 workers. It looks like the future could be a little bit brighter for those workers. During Monday's hearing the judge was supposed to either approve of the $21 million purchase agreement or deny the sale. However, some changes were made to those original purchase agreements after a different offer came through from the employee union and a lending firm. "We will work to do our very best to provide an operating budget to each of the steelworkers and the receiver. We will work very hard. That's not a guarantee, but if it's not done by the end of the day tomorrow it will be done the following day," explained Mark Friedlander, Industrial Assets attorney. Now, Industrial Assets says it will pay $20 million , with more money to provide an operating budget to keep the plant open for 45 days. Over those 45 days Appleton Coated will run with only 200 employees to fulfill current orders. The mill typically employs more than 600 people. Click Read More below for more of the story.

Public Utility District No. 1 of Pend Oreille County General Manager Colin Willenbrock issued the following statement regarding the indefinite idling of Ponderay Newsprint Company: “Ponderay Newsprint has long been an outstanding employer and community partner in the Pend Oreille valley. While recent news of the mill being indefinitely idled has long been anticipated, it still hits us hard to know this chapter in our community’s story may be coming to a close. We will be creating a page on our website for customers – including PNC employees who live in Pend Oreille County – to learn about energy assistance programs, financial resources, and other helpful information as we make this transition together.