Madison Paper Industries concluded the sale of its hydro power facilities in North America to Eagle Creek Renewable Energy

Mativ Holdings, Inc. announced that it has received a binding offer from Evergreen Hill Enterprise, Pte. Ltd., to acquire Mativ’s Engineered Papers business, part of Mativ’s Fiber Based Solutions reporting segment, for $620 million. Subject to customary closing date adjustments, Mativ expects to receive net proceeds (net of taxes and other items) of approximately $575 million in the proposed transaction, which would be primarily used for debt paydown. Julie Schertell, CEO of Mativ, commented, “The proposed sale of Engineered Papers is a key milestone in the transformation of Mativ and aligns with our strategy to focus our efforts, accelerate growth, and drive value for our shareholders. This pivotal action positions our portfolio for faster growth and focuses our resources on categories with the most promising revenue and margin expansion opportunities. While a solid business, EP’s concentration in the tobacco industry is not aligned with Mativ’s long-term ambition and presents a more attractive value proposition under new strategic ownership. Our talented and dedicated employees will continue to deliver outstanding products and service to EP’s long-standing customer base, and we are confident in a smooth transition.”

Georgia-Pacific announced significant investments, which total more than $500 million, at its Green Bay, Wisconsin, Broadway mill. The investments will greatly enhance the company's retail consumer tissue and towel business. Investments to the Green Bay mill include building a new paper machine using through-air-dried (TAD) technology, as well as adding associated converting equipment and infrastructure. Engineering and related work is beginning immediately, with startup of the new machine scheduled for the first half of 2024. Approximately 150 jobs will be created to operate the new papermaking complex, in addition to the mill's 850 current employees. The project will have as many as 500 construction and contract-related workers onsite at the mill, fluctuating with project timeline.

Along with members of the community, provincial and federal elected representatives, staff at Meadow Lake Mechanical Pulp mill (MLMP) and Paper Excellence Canada today celebrated 30 years of the pulp mill being in operation. The mill is located just east of Meadow Lake and has been operational since 1992. MLMP was the first mill Paper Excellence Canada acquired in 2007. The mill employs over 200 full-time employees, creates approximately 1,300 direct and indirect jobs, and creates approximately $470 million in economic activity annually. MLMP produces approximately 400,000 tonnes of bleached chemi-thermal mechanical pulp (BCTMP) annually. BCTMP is used to make a variety of products from tissue and paper towel to food and board packaging.