Neenah Completes Purchase of Coldenhove

Resolute Forest Products plans to put up a new distribution center at its Calhoun, Tenn., production site as the company grows its tissue business. The 300,000-square-foot distribution center under construction will provide storage for tissue products made at the mill, said Debbie Johnston, the company's director of U.S. public affairs. The goods later will be shipped to Resolute's retail customers, she said. Johnston said the center, slated for completion in August, will employ more than 30 people. She said construction of the center is the latest phase of $400 million Resolute is spending when it announced it was entering the tissue market in 2015. Click Read More below for additional information.

HEINZEL GROUP recorded a respectable result in the challenging environ-ment of 2020 and created a good basis for further growth after completely freeing itself from debt. Sebastian Heinzel joins the management as Chief Strategy Officer with immediate effect. HEINZEL GROUP increased production in both the paper and pulp segments in the 2020 financial year, with total production rising to 1,607,030 metric tons in 2020. The growth in paper volume is at-tributable to the first full year of operation of the PM3 in Pöls, which specializes in low-grammage kraft paper, and the very good performance of the PM10 in Laakirchen, which produced more con-tainerboard than in the previous year. Total sales volume amounted to 3.7 million metric tons and was slightly lower than in 2019 due to the corona pandemic. Coupled with lower market prices, HEINZEL GROUP’s net sales consequently declined to EUR 1,611.7 million. Although lower wood prices and large-scale savings measures had a positive effect, HEINZEL GROUP’s EBITDA, at EUR 126.0 million, fell to the level of 2017. The group’s EBIT decreased to EUR 57.7 million and net profit for the year to EUR 39.9 million. Against this backdrop it is all the more remarkable that HEINZEL GROUP was able to completely free itself from debt and increase the equity ratio to 59.2%.

As part of a settlement entered into by Verso with two Canadian producers of supercalendered papers, Verso today requested that the U.S. Department of Commerce revoke its order imposing duties on supercalendered papers made by those Canadian producers and imported into the U.S. The SC paper tariffs were intended to offset the impact of Canadian subsidies paid to Canadian producers of SC paper in order to help U.S. producers who were injured by the subsidized imports. However, injurious Canadian SC imports continue to enter the United States even with the tariffs, and imports from other non-U.S. SC producers which are not subject to the tariffs have increased. These factors offset the benefits of the tariffs to Verso. If the Department of Commerce grants Verso’s request to revoke the tariffs, it could provide Verso with a meaningful amount of cash over time, which we will evaluate how to use to best benefit our company and make us an even healthier supplier. However, there is no assurance that the Department of Commerce will grant our request to revoke the tariffs or that such funds will be provided to Verso. Be assured that we continue to make supercalendered paper at the Duluth Mill. Verso’s decision to settle the trade case is unrelated to any decisions about potential changes to Verso’s production assets at the Duluth Mill or to the types of products we make there.