Michigan State legislatures have approved legislation to grant Billerud investment support

Norske Skog’s EBITDA in the second quarter of 2023 was NOK 380 million, a decrease from NOK 675 million in the first quarter of 2023. The main driver for the lower second quarter EBITDA was lower publication paper sales prices. The cash flow from operations in the quarter was NOK 353 million. During the second quarter Norske Skog entered the packaging paper market with a successful production start-up of Bruck PM3, and the first rolls of packaging paper delivered to customers. The rockslide at Norske Skog Saugbrugs will likely keep the paper machine PM6 out of the publication paper market through the first half of 2024. An insurance compensation for business interruption is therefore recognized in the second quarter results. The start-up of the Golbey conversion project is postponed to the second quarter of 2024. Despite the rockslide at Norske Skog Saugbrugs and weakened demand in all segments in the quarter, we have managed to maintain high sales volumes, healthy profitability and a strong financial position.

Appleton Coated today said that it has filed a voluntary state Chapter 128 petition for receivership to allow the company’s operations to continue under the supervision of a court-appointed receiver named by the Outagamie County Circuit Court. Company officials said the petition and appointment of a receiver will allow the company to continue operations under the direction of the receiver, who will lead a process aimed at selling the company’s assets to a buyer who will continue operations. “Despite the best efforts of our employees and ownership group and the introduction of new products, this step is the best option at this point,” said Doug Osterberg, Appleton Coated’s president and chief executive officer. “While the company has made significant progress in diversifying its product offerings and entering new markets, the overall business climate is very challenging, and operating under a state court-appointed receiver is the best route to transition the business to sustained profitability.” He said the company’s bank has agreed to fund operations during the receivership and that the business will continue to operate during the transition. He added the company will be able to pay salary and wages and fund benefits for current employees. Click Read More below for additional detail.

Lecta expands its line of Termax thermal products and launches its two new high-quality grades of Termax top-coated thermal paper on the market, Termax TC20X and Termax TC20XB, for a wide variety of self-adhesive labels. The two new grades of paper in this product line are made to be used as adhesive facestock for food and industrial label applications in which there may be adverse conditions such as moisture, grease or solvents. Both products are highly resistant to grease, water, solvents, scratching and plasticizers, and are therefore an excellent solution to these problems. In addition to excellent chemical and environmental resistance, Termax TC20X and TC20XB papers provide high image resolution, good temperature resistance, high sensitivity, and both are phenol-free. The TC20XB also has a protective layer on the back to protect the label when used with more demanding adhesives.