GP’s Sale of Nonwovens Business to Glatfelter Finalized

The Company reported an operating loss of $6.3 million for the second quarter of 2020, down $12.4 million from operating income of $6.1 million reported for the first quarter of 2020. Reported results for the second quarter of 2020 included an $8.2 million finished pulp and raw material inventory write-down at period end. After adjusting for this, the Company’s operating income was $1.9 million for the second quarter of 2020, up $6.5 million from a similarly adjusted operating result in the previous quarter. The Company’s operating results for the second quarter of 2020 reflected direct and indirect impacts of the coronavirus outbreak on global markets, and more specifically the pulp and paper business.

Appvion and United Steelworkers Union representatives met Wednesday to begin discussing details of the paper company’s consolidation plan that will eliminate 200 jobs in Appleton. That number represents about one-quarter of Appvion’s local 800-employee workforce, and is part of a larger trend that worries paper industry watchers. Appvion's layoffs were first announced in a Nov. 9 story. It followed the company's filing for Chapter 11 bankruptcy protection in October. “The first layoffs will occur in January and would continue as we transition most of our carbonless coating and converting operations to the Roaring Spring Mill (in Pennsylvania) during 2018," said spokesman Bill Van Den Brandt. "We project that we will complete the transition process in third quarter 2018.” Click Read More below for additional information.

Norske Skog Skogn and Statkraft have entered into a new long-term industrial energy agreement, which together with previous contracts, will secure large parts of the mill's energy supply on competitive terms until 2030. - This agreement will give the Skogn mill stable energy supply at predictable and acceptable prices. The agreement contributes to secure jobs and the long-term competitiveness of Skogn. At the same time, this is important for the forest sector in Central Norway, says Sven Ombudstvedt, CEO of Norske Skog and chairman of Norske Skog Skogn AS.