Canfor Corporation (TSX:CFP) announced today it will curtail operations at its Polar Sawmill located in Bear Lake British Columbia, north of Prince George, following an orderly wind-down. The curtailment is the result of a shortage of economically available fibre in the region and is expected to be in place for a period of approximately six months. The Company will continue to evaluate market conditions and fibre availability in the region and adjust operations accordingly.
https://www.canfor.com/investor-relations/investor-news-press-releases/news-detail/2023/11/14/canfor-announces-extended-curtailment-at-polar-sawmill
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Mactac®, a LINTEC Company, is acquiring Label Supply, headquartered in Ontario, Canada. Label Supply has been servicing the Canadian roll label market for more than three decades. The acquisition is expected to close June 1, 2023, and consists of an established, turnkey facility with 11 finishing assets, a comprehensive transportation/shipping fleet, robust laboratory and technical resource group, and an in-house ink partner. With the added support of Mactac, Label Supply benefits from a larger customer base, capital access, information technology, and broad, consistent product supply. The acquisition expands the geographic reach of both companies in the Canadian market, creating a unique service and product offering that provides specialty products, service, and large quantities to more customers throughout Eastern Canada.
*BillerudKorsnäs has entered into an agreement to acquire Verso for a purchase price of approximately USD 825 million in cash, corresponding to USD 27.00 per share. *Verso is a leading producer of coated papers in North America with reported net sales for the last twelve months ended 30 September 2021 of USD 1 264 million and adjusted EBITDA of USD 158 million. *The purchase price corresponds to an enterprise value / adjusted EBITDA multiple of approximately 6x for the last twelve months ended 30 September 2021. The acquisition will immediately be accretive to earnings per share and create significant shareholder value over time with a more profitable product mix. *BillerudKorsnäs will build one of the most cost-efficient and sustainable paperboard platforms in North America by converting some of Verso’s assets into paperboard machines with an estimated capex of up to SEK 9 billion. *The acquisition and transformation will be financed through a combination of a rights issue of up to SEK 3.5 billion, additional debt and operating cash flow. *The acquisition is expected to close in the second quarter of 2022, subject to the approval of Verso’s shareholders as well as the receipt of applicable regulatory approvals and satisfaction of other customary closing conditions.
GP Cellulose is investing about $80 million to add fluff capacity at its GP Cellulose Alabama River mill near Monroeville, Alabama. The project is being implemented in phases and will increase the mill’s ability to produce fluff pulp upon completion. The Alabama River mill operates two lines, one currently producing only paper pulp bales. This investment upgrades production by adding the ability for this line to also produce fluff pulp rolls. The mill’s second line was upgraded to produce both paper pulp bales and fluff pulp rolls in 2011. “This investment will enable GP Cellulose to address the increasing fluff pulp needs of our customers worldwide,” said Munir Abdallah, President – GP Cellulose. “The completion of this project will add capability and flexibility to our system to meet a wider range of needs and position us to grow with our customers.”