SCA closes paper machine

Canfor Pulp Products Inc.is announcing a minimum six-week extension of the curtailment of BCTMP production at Taylor Pulp due to the ongoing transportation shortages that have resulted in continued high finished product inventories at the pulp mill. “Unfortunately, the ongoing rail transportation situation has not improved, and we have no choice but to extend the current production curtailment,” said Kevin Anderson, VP Operations, Canfor Pulp. “We are very disappointed in the ongoing impact this is having on our employees, their families and the community.” The curtailment extension will further reduce the production of BCTMP by at least 25,000 tonnes.

With a second e-boiler, Sappi takes a further step towards sustainability and advancing decarbonisation. For paper manufacturer Sappi, sustainability and climate protection are of paramount importance and are at the root of a long-term global commitment. In 2021, Sappi invested in the modernisation of its steam generation boiler at its Maastricht mill in the Netherlands. To reduce CO2 emissions, part of the gas-generated steam was replaced by electric steam via the new e-boiler. The electricity used is generated mainly from renewable energy sources such as solar and wind power. The innovative technology has proven so successful that Sappi will now be investing in a second e-boiler which is expected to further reduce CO2 emissions year after year. Construction of the new e-boiler has already begun, with delivery and commissioning planned for the end of 2025.

Sylvamo now has access to $60 million initially put in escrow for disputed goodwill tax deductions in Brazil which it intends to use to pay down debt. The company’s lenders agreed to eliminate the escrow after a Brazilian court ruled in its favor. The ruling—covering two-thirds of the amount disputed in several proceedings—is subject to appeal. Due to the potential liability of the goodwill tax deductions, lenders limited Sylvamo to $90 million in annual cash returns when it became an independent company in 2021. In September 2023, the company made a $60 million escrow deposit to remove the limit in its credit agreement, allowing it to return more than $90 million annually in cash to shareowners through share repurchases and dividends.