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All of Fortress' existing members of the Board of Directors, other than Giovanni Iadeluca, as well as Kurt Loewen, the Company's Chief Financial Officer, intend to resign effective immediately prior to any CCAA order being issued.
New-Indy Containerboard, a manufacturer and supplier of recycled containerboard for the corrugated box industry, plans to invest $240 million to establish operations at a recently-acquired pulp and paper mill facility in Catawba, South Carolina.
Verso is seeking to replace the leadership of its board of directors to ward off the election a competing slate of nominees chosen by a group of investors that Verso says is waging a proxy war for control of the company.
CDPQ owns a 20.2% interest in Greenpac, a state-of-the-art lightweight containerboard mill, located in Niagara Falls, NY. The expected purchase price is approximately US$93 million.
The funds will be used in maintenance, expansion/modernization and logistics projects.
There is also no assurance that the Company or the Lenders will not commence any form of creditor protection or insolvency proceeding imminently or in the near future.
The parties will work to develop a new type of biocomposite that may include furniture, packaging and car interiors.
An explosion at Georgia Pacific's Clarendon plant injured one person Monday afternoon.
A Swedish district court on Monday acquitted Finnish paper firm Stora Enso of responsibility for causing Sweden's largest wildfire in 40 years, instead fining a subcontractor.
The Ministry of Labour is investigating an industrial accident at Resolute Forest Products' Thunder Bay sawmill.
A former professional hockey player from Grand Rapids, Scot Kleinendorst, 59, was badly injured and fighting for his life following a heavy machinery accident at the town's paper mill, UPM Blandin, over the weekend.
Environmental protesters worried about the plight of Canadian caribou and forests dressed up as Santa Claus and reindeer and delivered coal at Procter & Gamble's headquarters on Thursday.
Corner Brook Pulp and Paper announced Friday it is restructuring staff to keep its labour costs in line, and that will mean a loss of permanent status for some workers at Newfoundland and Labrador's only newsprint mill.
Crews responded to a fire at ST Tissue Facility's Fiber Recycling Plant Friday morning.
Bankruptcy Can't Stop Responsibility for Pollution Clean-up
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Valmet will proceed with plans for a phased closure of foundry, machine shop and assembly operations at its production center in Hudson Falls, New York.
The Lenzing Group will drastically reduce its CO2 footprint. A first milestone is set for 2030, when Lenzing plans to cut down on CO2 emissions per ton of product by 50% compared to a 2017 baseline.
Central National Gottesman Inc. (CNG), which owns a range of sales and distribution businesses in the global pulp, paper, tissue, packaging, wood products and metals industries, announced that its Spicers Paper division will add Kilmer, Wagner & Wise (KWW) Paper Company to its packaging portfolio.
A fire was reported at a Graphic Packaging facility in Kenton, Ohio early Dec. 3.
Stora Enso is merging its container board business in the Packaging Solutions division with the Consumer Board division, creating a new Packaging Materials division.
Re-Proposes Declassification of Board of Directors and Elimination of Supermajority Voting Provisions.
A small fire was contained at the Sonoco Paper Mill in Glen Miller north of Trenton Tuesday morning, Dec. 3.
"We believe that Stevens Point, one of the Specialty Mills, is the "crown jewel" of Verso. Consequently, stockholders should expect full value for this asset."
Green Bay Packaging Inc. officials on Monday celebrated a major environmental milestone in the construction of the company's new $500-million paper mill.
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