Madison Paper Industries, a partnership of UPM and Northern SC Paper Corp., a subsidiary of The New York Times Company, concluded the sale of its hydro power facilities to Eagle Creek Renewable Energy, LLC, a hydroelectric power producer, based in Morristown, NJ, USA on 31 July 2017.
The transaction was announced by Madison Paper Industries in April 2017.
http://www.upmpaper.com/whats-new/all-news/Pages/Madison-Paper-Industries-concluded-the-sale-of-its-hydro-power-facilities-in-Nor-001-Tue-01-Aug-2017-08-33.aspx
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Following the rockslide and subsequent production stop at Saugbrugs PM6 (paper machine 6) in April this year, Norske Skog has decided to restart production at the previously idled PM5. The restart of PM5 allows Norske Skog to continue supplying SC magazine paper to its customers and keep its market position. “The decision to restart production at PM5 is important to maintain Saugbrugs as a preferred supplier of SC paper in Europe, while the restoration work is ongoing at the PM6 plant,” says Per Ivar Berg, Managing Director at Norske Skog Saugbrugs. The business interruption at PM6 is covered by insurance. Cash flows relating to the restart and production from PM5 will be netted against the insurance coverage, thus the financial impact for Norske Skog Saugbrugs will be largely neutral. Prior to being idled in late 2020, PM5 had a production capacity of up to 100 000 tonnes of SC magazine paper. Saugbrugs PM6 has a capacity of 260 000 tonnes SC magazine paper. Operations at Saugbrugs PM4 continue with its capacity of 100 000 tonnes of SC paper.
Canfor Corporation is announcing that it has entered into an agreement with Millar Western Forest Products Ltd. to acquire the company’s solid wood operations and associated tenure for $420 million, including $56 million in working capital. The purchase price represents a multiple of 3 times 2020 and 2021 average EBITDA. Canfor expects to generate at least $25 million in annual synergies principally related to alignment with the Company’s marketing programs and operational enhancements. Millar Western’s solid wood operations, located in Alberta, Canada, will add 630 million board feet of production capacity and have access to a globally competitive, high-quality timber supply. The assets consist of three well-capitalized operations including two sawmill complexes in Whitecourt and Fox Creek and the high-value, specialty Spruceland Millworks facility in Acheson that is dedicated to serving strategic markets and generates higher, more stable returns.