Kruger Inc. is announcing today a $377.6-M transaction to diversify operations at its Brompton and Wayagamack Mills into specialty niches, such as flexible food packaging, labelling and digital printing. This major project, undertaken in partnership with the Government of Québec, will help to maintain more than 500 jobs in the Mauricie and Estrie regions. The announcement was made today in the presence of Philippe Couillard, Premier of Québec; Dominique Anglade, Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy; and Joseph Kruger II, Chairman and Chief Executive Officer of Kruger, as well as Ministers Luc Blanchette, Julie Boulet, and Luc Fortin. Kruger and the Government of Québec have formed a partnership by which Investissement Québec, acting as the government's agent, will grant loans and a loan guarantee totalling $59.8 million and acquire an equity participation of 37.5%, or $44.6 million, in the new entity Kruger Specialty Papers Holding L.P. The new entity comprises the assets of the Brompton and Wayagamack Mills, as well as the Biomass Cogeneration Plant adjacent to the Brompton Mill. Click Read More below for additional detail.

Due to continuing input cost increases and unsustainable profit levels, Sappi is forced to continue passing on this cost inflation by increasing its Woodfree grades prices by 6-8% effective on deliveries from January 1st 2018 for all European markets. This follows previous announcements made for its LWC and MWC grades. Despite strong order books margins continue to be depressed by this severe input cost inflation. Sappi’s sales representatives will be in touch with their customers to agree on the specifics over the following weeks.

Greif, Inc.  a global leader in industrial packaging products and services, announced today that it has completed the previously announced sale of its timberlands business to Molpus Woodlands Group, on behalf of clients, for approximately $462 million after adjustments. “The closing of this sale reinforces the commitment of Greif to pursue the highest return on invested capital across our portfolio.” said Ole Rosgaard, President and CEO of Greif. “Combined with the recently completed sale of our containerboard business, these cash proceeds are expected to put our leverage ratio below 1.2x, strengthening our balance sheet and providing significant interest savings heading into fiscal 2026.”