Pactiv Evergreen Inc. Completes Sale of Pine Bluff Paper Mill and Waynesville Extrusion Facility to Suzano S.A.

Pactiv Evergreen Inc. (NASDAQ: PTVE) (“Pactiv Evergreen” or the “Company”) today announced it has completed its previously announced sale of the Pine Bluff, Arkansas, paper mill (“Pine Bluff”) and Waynesville, North Carolina, extrusion facility (“Waynesville”) to Suzano S.A. (“Suzano”).

“The closing of this transaction marks an important milestone as we focus on our core North American converting operations,” said Michael King, President and Chief Executive Officer of Pactiv Evergreen. “I want to thank the employees at Pine Bluff and Waynesville for their years of dedication and commitment to Pactiv Evergreen and to our customers. In addition to facilitating our transition to a capital light business model, we expect the transaction to improve our profitability and cash flows and strengthen our balance sheet.” The sale proceeds are $110 million,1 subject to customary adjustments for closing amounts such as working capital.
https://investors.pactivevergreen.com/news-releases/news-release-details/pactiv-evergreen-inc-completes-sale-pine-bluff-paper-mill-and

Related Posts

UPM Plywood and Industrial Union sign collective labour agreement

UPM Plywood and the Industrial Union have signed a business specific collective labour agreement for UPM Plywood. The new agreement is valid for three years starting from 1.1.2022. The new agreement enables mills to continue production on all weekdays with terms that are satisfactory to both parties. The production output and the employees’ earnings will grow based on the new agreement. In addition, more people will be recruited to the mills. The agreement makes continuous seven-day shift model possible, and this means less working hours compared to the current discontinuous model, and the new agreement allows a shift model that is more employee-friendly. The agreement enables faster reaction to demand peaks thanks to flexible working hours, and it includes mutually agreed terms for production during holidays. Furthermore, a model for temporary work at other UPM Plywood mills was agreed on improving on-the-job learning and development as well as employees’ earnings.

Paper Excellence announces a $13 million upgrade plan for Port Alberni

The owners of a Port Alberni paper mill say a major new investment in the facility reflects confidence in British Columbia’s forestry sector. Paper Excellence says it will spend $13 million to upgrade the mid-Island mill as it prepares to produce food-grade papers used by restaurants and food preparation companies. The company says the investment will remove production bottlenecks and upgrade a pair of paper machines at the facility. "With help from the leadership of B.C.’s government, we are very excited to invest in a winning project like this at Port Alberni," said Patrick Corriveau with Paper Excellence. "With the mill’s best-in-class papermakers and the ability to make even more of these new food grades, we’re confident in the Port Alberni mill’s secure and long-term future."

Avery Dennison Launches New Cut Vinyl Film Portfolio in North America at ISA Sign Expo

Avery Dennison Graphics Solutions announced the launch of its new Cut Vinyl Film Portfolio, re-engineered for industry-leading weeding performance and a longer shelf life. The Portfolio of films is incorporated in the “Color with Character” theme of the Avery Dennison Booth #3623 at ISA Sign Expo, March 22 - 24, 2018 in Orlando, Florida. The Cut Vinyl Film Portfolio features HP750 High Performance and SC950 Supercast Film in the broadest color selection available. The films feature an enhanced shelf life and the fastest and easiest weeding, when compared to competitive products, for best-in-class results. The films in the Cut Vinyl Film Portfolio are ideal for indoor and outdoor signage, fleet graphics and crafting. Additional product details can be found at graphics.averydennison.com/CutVinylFilms. Click Read More below for additional information.
Back To Top
×Close search
Search