Cascades to Permanently Close Its Corrugated Medium Plant in Niagara Falls, New York

BillerudKorsnäs today announces that negotiations with labour unions over a proposal for new organisation will be initiated within short. The proposal contains a full profit and loss responsibility in three divisions. “During my first months with BillerudKorsnäs, it has become clear to me that we have great conditions for profitable growth. In order for us to take maximum advantage out of these conditions, we need to become faster and clarify accountability within the company. This we now want to accomplish through a new organisation in three divisions with full profit and loss responsibility”, says Petra Einarsson, President and CEO of BillerudKorsnäs. Click Read More below for additional information.

Clearwater Paper Corporation announced that it temporarily suspended its pulp and paperboard operation in Cypress Bend, Arkansas. The cold weather has resulted in the curtailment of natural gas deliveries to the mill as natural gas providers prioritize residential needs. “We are focused on the health and safety of our employees, maintaining our assets, and working to meet customer needs during this unexpected outage,” said Arsen Kitch, president and chief executive officer. “We intend to resume operations as soon as we are safely able to do so.” The company will provide an update on the anticipated impacts of the outage during its fourth quarter and full year 2020 earnings announcement, scheduled for Thursday, February 25.

In the 3rd quarter of 2017 the Arctic Paper Group generated sales revenue of nearly PLN 735.9m. EBITDA was PLN 70.8m and operating profit PLN 38.5m. The Group’s net profit on continuing operations in Q3 2017 was PLN 25.6m. The weaker results of Arctic Paper in the 3rd quarter were due primarily to the effect of a further increase in pulp prices which has not been fully offset yet by higher paper prices. The result was also affected by the planned stoppage at the Arctic Paper Kostrzyn plant for 12 days in July of this year, connected with an investment to increase the production efficiency at that plant. Per Skoglund, CEO of Arctic Paper, commented: “The decline in profit is mainly due to continued high pulp prices, which we will not be able to fully compensate for by price increases during 2017. On top of that, a planned investment stoppage in Arctic Paper Kostrzyn affected sales and profit during the period. The investment in increased production efficiency will have a future positive impact and strengthen our ability to serve our customers in a competitive way.” Click Read More below for additional information.