Clearwater Paper completes US$1.06 billion sale of tissue business to Sofidel
Tissue Online North America
Connection and visibility for the tissue paper industry
Welcome to Tissue Weekly North America! Your new weekly newsletter on LinkedIn about the tissue market.
Below, take a look at this week's highlights:
Clearwater Paper Corporation announced today that it has finalized the sale of its tissue business to Sofidel America Corp., a subsidiary of Sofidel S.p.A., for US$1.06 billion in cash, subject to customary purchase price adjustments. The transaction marks a key milestone in Clearwater’s strategic shift towards becoming a leading independent supplier of paperboard packaging solutions for North American converters. Initial details of the sale were disclosed on July 22, 2024. Read more.
Kruger Inc. has announced an investment of $23.75 million to implement a pioneering carbon capture and reuse project at its Wayagamack mill in Trois-Rivières, Canada. The initiative was presented during an event attended by officials such as Fran?ois-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry, and Jean Boulet, Québec’s Minister of Labour and the minister responsible for the Mauricie region. Learn more.
International Paper (IP), one of the world’s leading companies in pulp and packaging production, released its financial results for the third quarter of 2024 on Thursday, the 31st. The company reported a net income of US$150 million, equivalent to US$0.42 per diluted share. Adjusted operating earnings (non-GAAP) stood at US$153 million, or US$0.44 per diluted share. Additionally, operations generated US$521 million in cash, with US$161 million returned to shareholders through dividends. Learn more details.
Georgia-Pacific has announced a transition in its operations leadership, as senior vice president of Operations Jeff Koeppel is set to retire in the first quarter of 2025. Koeppel, who has held the position since 2016, played an essential role in the company’s manufacturing transformation. Hudson Pope, currently Georgia-Pacific’s senior vice president for Manufacturing, will succeed Koeppel in the senior vice president of Operations role, overseeing all manufacturing segments. Click to learn more.
Keep up with everything happening in the tissue paper market daily at: https://tissueonlinenorthamerica.com/