Verso Corporation (NYSE: VRS) (“Verso”) today announced it has received necessary approvals from the Nuclear Regulatory Commission and the Public Service Commission of Wisconsin to complete its previously announced merger with BillerudKorsnäs AB (“BillerudKorsnäs”). Verso has now received all regulatory approvals necessary to complete the merger.
The transaction is expected to close on March 31, 2022.
https://investor.versoco.com/2022-03-29-Verso-Receives-All-Regulatory-Approvals-Necessary-to-Proceed-with-Closing-of-Merger-with-BillerudKorsnas-AB
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Koehler Group publishes figures for 2020 financial year: Despite the worldwide impact of the Covid-19 pandemic and the fall of total sales for German paper industry, the Koehler Group managed to perform relatively well in its market and maintained its competitive edge and invested more than 91 Million Euros during 2020. In the 2020 financial year, Koehler Group’s revenue fell by 11.7% to 769 million euros. The operating result of 66 million euros is significantly lower than the previous year’s figure and therefore significantly below target. Koehler Paper saw its sales volume fall by 1.5%, with the decrease essentially due to the decline caused by the Covid-19 pandemic. Koehler Group’s equity grew by 29 million to 590 million euros during the previous financial year. The equity ratio therefore equals 57.2%, with a decrease in the balance sheet total, and has clearly exceeded the long-term objective of more than 40%.
International Paper (NYSE: IP) today announced plans to invest approximately $300 million to convert its No. 15 paper machine at the Riverdale Mill in Selma, Ala. from uncoated freesheet to high quality whitetop linerboard and containerboard. The conversion is targeted to be completed by mid-year 2019. The investment will add 450,000 tons of annual capacity, with flexibility to shift between containerboard products.
Converting Riverdale No. 15 will position International Paper to grow its Industrial Packaging business, continue to provide attractive jobs to Riverdale team members and remain a significant supplier of uncoated freesheet in North America.
"Our customers expect us to support their growth and this machine conversion will meet their needs," said Tim Nicholls, IP's senior vice president, Industrial Packaging the Americas. "Our Industrial Packaging business continues to focus on our customers in strategic channels including our box business, domestic and export containerboard and specialty grades."Click Read More below for additional detail.
Together with RISE, IsoTimber and Moelven, Stora Enso has been working on the most recent development of NeoLigno – 100% fossil-free structural boards and building elements. Stora Enso has launched NeoLigno®, a revolutionary lignin-based binder for particleboard and insulation applications. We are committed to doing good for people and the planet, which is why we always look to innovate new, renewable alternatives where fossil-based materials are being used today. In this case, we asked ourselves: What if we could come up with a bio-based binding agent that keeps all the technical qualities of traditional binders while also being safe and renewable? Our answer to this question is NeoLigno® by Stora Enso.