Metsä Board, part of Metsä Group, announced on 1 December 2020 that it had signed an agreement to sell a 30 percent stake in its Husum pulp mill in Sweden to the Swedish forest owners’ cooperative (ekonomisk förening) Norra Skog.
The transaction was completed on 4 January 2021, and its impacts will be included in Metsä Board’s financial reporting as of the January–March 2021 interim report.
https://www.metsaboard.com/Media/Stock-Exchange-and-Press-Releases/Pages/Release.aspx?EncryptedId=BF18C11159280429&Title=Thesaleofa30percentstakeintheHusumpulpmilltoNorraSkoghasbeencompleted
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Appleton Coated sale 'like a death in the family,' worker says after Thursday ruling Industrial Assets Corp., a used machine dealer and liquidator based in Los Angeles, will be the new owner of the Appleton Coated paper mill as of Friday. The $20 million sale, plus a $1.5 million backstop fund, was approved by Outagamie County Judge Gregory Gill in a hearing on Thursday morning. It included $2.25 million to cover employee health insurance through October and wages for about 100 employees to be recalled for a few weeks to keep the mill at "hot idle" status. That number will then be reduced to 30 employees. The new modified agreement includes the stipulation that Industrial Assets will market the mill for 90 days to see if a new buyer can be found who will restart and operate the mill as a going concern. According to the modified purchase agreement, Industrial Assets met with Appleton Coated management and “determined that the management’s projections for profitable short-term operations were not achievable.” Click Read More below for more of the story.
GreenFirst Forest Products Inc. is pleased to announce plans to restart the second paper machine at its Kapuskasing Paper Mill. GreenFirst has received over $1.2 million from the Skills Development Fund of the Government of Ontario, Ministry of Labour, Training and Skills Development to support the recruiting, hiring, and training of more than 45 new employees. On August 28, 2021, GreenFirst acquired the Kapuskasing Paper Mill from Rayonier Advanced Materials, which was only operating one paper machine at the time. GreenFirst will begin to restart the second paper machine in May, thereby increasing direct employment to almost 300 jobs in Kapuskasing and surrounding areas, these positions welcome youth, women and Indigenous applicants. The restart will occur in multiple phases starting in May, with the goal of full production (7 days – 24 hours operation) by October 2022.
Canfor announced it has reached multi-year $30-million agreements with Peak Renewables involving the sale of the Company’s forest tenure in the Fort Nelson region of British Columbia. The transactions are subject to customary closing conditions, including approval from the BC Minister of Forests. Closing is expected to occur in the first quarter of 2021. The agreements follow Peak Renewables’ purchase of Canfor’s Fort Nelson mill assets in the third quarter of 2020. “I am pleased to have reached an agreement to sell our Fort Nelson tenure to Peak Renewables, a company that is committed to developing a long term plan to rejuvenate the forest industry in the region,” said Don Kayne, President and CEO, Canfor.