Stora Enso has acquired permission from local authorities to move on with the civil engineering of an integrated pulp and paper mill in Beihai city, Guangxi autonomous region, China.

The mill project was approved by the central Chinese government in June 2013, and was granted construction permits on November 5. A 450,000-tonne/yr cartonboard PM and an integrated bleached chemithermomechanical pulp line (BCTMP) with a daily capacity of 650 tonnes will be built at the greenfield mill. Their startups are planned for early 2016.

The PM will produce high-quality liquid packaging board and other folding boxboard grades.

Valmet will supply both the PM and the fiber line, and Andritz will supply a complete wood handling line.

Kawanoe Zoki to Offer GL&V Pulp and Paper’s BTF Headbox Technology in China

GL&V Pulp and Paper is pleased to announce that Kawanoe Zoki, our long term partner in the pulp and paper market in Japan, is taking over responsibility for the BTFTMheadbox technology in China.

Kawanoe Zoki has extensive experience in designing, building and marketing pulp and paper equipment in Asia, and has been a partner of GL&V for more than 20 years. Kawanoe Zoki has sold, designed, manufactured and successfully started up many BTF installations in Japan. They already have extensive experience in the Chinese pulp and paper marketplace with their tissue forming technologies. There are now 190 BTF installations worldwide, including 44 in Asia, of which 25 are located in China. GL&V is pleased that Kawanoe Zoki will be continuing to offer customers in China the benefits of BTF Dilution Profiling headbox technology.

Buckman Enzyme Applications for the Pulp and Paper Industry

Increased demand for the use of recycled materials from paper mills has been greatly increased the recycling frequency of the recycled fiber, resulting in reduced wastepaper quality and increased fiber fines in the process. Coupled with the limitation of fresh water consumption, the papermaking systems of most paper mills have become closed and more complicated. One of the problems encountered is an increase in the accumulation of water soluble colloidal substances in the white water that results in lower sheet drainage, high web moisture in the wire and press section as well as increased steam consumption in the dryer section, which ultimately affects the machine runnability, productivity and paper quality.

Buckman enzyme research has provided a solid base for successful development of enzyme applications for the pulp and paper industry. The new enzymatic technology is specific to packaging grades, and it is applicable for various kinds of wastepaper materials. This new technology is highly effective in improving pulp drainage, increasing machine speeds and paper strength properties.

This enzymatic product is applicable for recycled wastepaper materials, such as OCC, ONP, DIP, that are used to produce containerboard, corrugated medium paper, whiteboard, coreboard, newspapers, etc.

Maximyze® 2598, a new generation enzymatic technology, is effective for improving the drainage efficiency of the wire and the press section by selectively degrading water soluble colloidal substances in the stock system. Due to its high specificity and efficiency, this enzymatic technology only works on water soluble colloidal substances and will not generate any detrimental effect on cellulose fiber and pulp yield. In addition, the use of the drainage enzyme would clean up the papermaking system, reduce the wet end chemical consumption, improve paper strength properties, increase the ratio of lower quality wastepaper, and prolong forming wire and press felt life. Maximyze 2598 is being used successfully and consistently in a number of large-scale production lines and has demonstrated excellent performance. It helps papermakers to increase productivity and to improve quality and profitability.

BASF Reorganizes Paper Chemicals Business

BASF is changing the organizational set-up of its paper chemicals business to strengthen its competitiveness and better meet the needs of the paper industry. BASF is a leading global supplier to the paper industry and offers a comprehensive range of chemical products for paper manufacturing and coating. As of January 1, 2015, the Paper Chemicals division will be dissolved. The current headquarters of the Paper Chemicals division in Basel, Switzerland will be closed by the end of 2014. Overall, there will be a reduction of about 50 positions globally as a result of the implementation of the new set-up.

The business will be continued in other divisions of the Performance Products segment as follows: The wet-end chemicals and kaolin businesses will be integrated into the Performance Chemicals division, supplementing the polyacrylamide value chain. A new global business unit "Paper Chemicals" will be established within the Performance Chemicals division. BASF is evaluating strategic options for its paper hydrous kaolin business. The paper dispersions business and the Center for Sustainable Paper Packaging (CSPP) will be integrated into the division Dispersions & Pigments, supplementing the latex dispersions value chain.

"Integrating the paper chemicals business along existing value chains will allow BASF to optimally steer plant capacity and leverage the advantages of the BASF Verbund. This will strengthen our businesses and further increase the competitiveness of our Performance Products segment," said Michael Heinz, member of the Board of Executive Directors of BASF SE and responsible for the Performance Products segment.

BASF remains committed to the paper chemicals industry by providing sustainable solutions and technical expertise. There will be no impact on supply security and service for the customers. Sales with paper chemicals were €1.44 billion in 2013. BASF continues to analyze further measures to improve the competitiveness of the Performance Products segment.

EXPANSIONS/ UPGRADES

Iggesund Invests Euro 60 Million to Reduce Bottlenecks

The board of the Holmen Group, which includes Iggesund Paperboard has decided to give the green light for investments totalling EUR 60 million in Iggesund's mills at Iggesund, Sweden and Workington, England. At Iggesund the investments will eliminate bottlenecks in pulp production so it can be increased from the current 370,000 tonnes to 420,000 tonnes. The target for the board mill is to increase the capacity by 10 per cent without investments.

The investment in Workington will increase the mill's paperboard production capacity from the current 200,000 tonnes to 220,000 tonnes. This investment will also make the mill a leader in folding box board technology thanks to a rebuild of the paperboard machine's press section which will increase product quality. The rebuild will be completed by June 2016.

Over a five-year period Iggesund Paperboard has invested strongly in strengthening its competitiveness via lower energy costs, whilst simultaneously minimising its use of fossil fuels. A total of EUR 361 million has been used for this purpose in both Workington and Iggesund. The investments announced now are more focused on increasing production.

Pulp production at Iggesund Mill, Sweden will increase from 370,000 to 420,000 tonnes. Manufacturing capacity for Incada in Workington, England will increase by 20,000 annual tonnes.

Waggeryd Cell Installs Andritz-Supplied System to Boost Capacity

The strategy for Waggeryd Cell is to continuously increase production up to 175,000 tonnes per year by gradual investments in order to remove bottle-necks. The recent investment in additional air to air heat exchangers in the flash dryer has increased the mill's production capacity by about ten per cent. Before the investment the flash dryer had one wet stage and two dryer stages for drying of the BCTMP pulp before baling it. As one part of the total investment package of about 50 MSEK, the flash dryer has been equipped with additional air to air heat exchangers to pre-heat the air from the two dryer stages. The previous wet stage now acts as a dryer stage, making the flash dryer a three stage flash dryer. This has increased the capacity by about ten per cent.

"During week 40 we prolonged our usual 24 hour maintenance stop with one day and the installation of the air to air heat exchangers in the flash dryer was done during 48 hours," says Michael Nylander, Mill Manager at Waggeryd Cell. "Installation as well as the start-up have been very successful. In addition to the production increase, the propane consumption has been reduced, which is very positive." "The aim with the investment has been achieved and we have increased our already very high efficiency even further. This strengthens our competitiveness on a tough market," Michael Nylander ends. Andritz is the supplier of the new air to air heat exchangers and was responsible for the rebuild.

Pöyry to Provide Engineering for Eldorado Line 2 Expansion Project

Eldorado Brasil Celulose S/A has awarded Pöyry with the basic engineering services assignment for the Eldorado Line 2 expansion project. From 2009 to 2012, Pöyry was responsible for the conceptual study, basic engineering, Balance of Plant (BOP) detailed engineering and supporting the construction management for Line 1. For Line 2, Pöyry is already responsible for the conceptual and environmental studies and detailed engineering for the site infrastructure.

The new assignment includes engineering services, enquiry specifications of main process equipment, auxiliary systems, water and effluent treatment and investment cost estimate.

The new production line will increase the capacity of the Eldorado mill in Tres Lagoas, Mato Grosso do Sul state to 4.0 million Air Dry tons (ADt) per year of baled bleached kraft pulp. Raw material will be eucalyptus wood from plantations established by Eldorado in the area surrounding the mill site.

Pöyry Awarded Engineering Contract for Metsä Board's Husum Project

Metsä Board has awarded Pöyry with the assignment for engineering consultancy, laser scanning, 3D modelling, detail engineering and site services for the new folding boxboard machine project at their Husum Mill in Sweden. The assignment is a continuation of the pre-feasibility and the pre-engineering services performed by Pöyry and it covers the majority of the required engineering services related to the implementation of the project.

The assignment will be executed during the autumn of 2015 and the new board machine scheduled to start up in the first quarter of 2016. The capacity of the new board machine is approximately 400 000 tonnes per year of folding boxboard.

The value of the order is not disclosed. The order will be recognised within the Industry Business Line order stock in Q4 2014.

Ox Industries Selects Siemens to Supply AC Sectional Drive System

OX Industries has selected Siemens USA to supply their latest technology AC sectional drive system to be implemented at OX's Constantine, Michigan paper mill. The Siemens project is part of a $2 million capital improvement initiative that includes automation and press section upgrades. The Siemens USA drive upgrade will allow for increased efficiency, flexibility, consistency and cost savings. The project is expected to be completed in July and will allow OX to produce an additional 15,000 tons of URB at the Constantine facility.

Domtar Invests $160 Million to Convert UFS Paper Machine to Fluff Pulp Line

Domtar Corporation has announced that its Board of Directors has approved a $160 million capital project to convert a paper machine at the Ashdown, Arkansas mill to a high quality fluff pulp line used in absorbent applications such as baby diapers, feminine hygiene and adult incontinence products. The planned conversion is expected to come online by the third quarter 2016 and will allow for the production of up to 516,000 metric tons of fluff pulp per year once the machine is in full operation. The project will also result in the permanent reduction of 364,000 short tons of annual uncoated freesheet production capacity in the second quarter of 2016.

The conversion work is expected to commence during the second quarter of 2016 and the fluff pulp line is scheduled to startup by the third quarter 2016. The cost of conversion will be approximately $160 million of which $40 million is expected to be invested in 2015 and $120 million in 2016. The Company will also invest in a pulp bale line that will provide flexibility to manufacture papergrade softwood pulp, contingent on market conditions.

The aggregate pre-tax earnings charge in connection with this conversion is estimated to be $117 million which includes an estimated $114 million in non-cash charges relating to accelerated depreciation of the carrying amounts of the manufacturing equipment as well as the write-off of related spare parts. Of the estimated pre-tax charge of $117 million, $3 million relates to estimated cash severance, employee benefits and training. Of the estimated total pre-tax charge of $117 million, $9 million is expected to be recognized in the fourth quarter of 2014 and $108 million is expected to be incurred during 2015 and 2016.

As a result of the fourth quarter decision to convert the nature and use of line A64 of the Ashdown Pulp and Paper mill, the carrying amount of the assets of the Ashdown mill is being tested for impairment and may result in a write-down during the fourth quarter of 2014. The carrying amount of such assets was approximately $813 million at November 30, 2014.

Domtar selects Valmet to Upgrade Evaporator Train

Valmet will supply equipment and technical services required to upgrade an evaporator train at the Domtar Pulp & Paper Mill located in Ashdown, Arkansas. The key objectives of the upgrade are to significantly reduce energy consumption and fresh water usage in the mill as well as to improve reliability and performance of the evaporator train.

The upgraded evaporator train is scheduled to start operation in the fourth quarter of 2015. This order is included in Valmet's 3rd quarter orders received. The value of the order is not disclosed.

The scope of the Valmet's delivery includes the supply of new evaporator vessels, the component needed to upgrade the existing concentrators as well as several other smaller vessels and other miscellaneous equipment.

Domtar Corporation designs, manufactures, markets, and distributes a wide variety of fiber-based products including communication papers, specialty and packaging papers, and absorbent hygiene products. In 2013, Domtar had sales of US$5.4 billion from some 50 countries. The Company employs approximately 10,000 people.

Domtar's Ashdown mill has 3 pulp lines and 3 paper machines. The mill's annual paper production capacity is 680,000 tons and pulp production capacity 700,000 tons.

Glatfelter Receives $8M from State to Convert Boilers from Coal to Natural Gas

Glatfelter is receiving $8 million in state grants to convert its paper mill boilers in Spring Grove, PA from coal to natural gas, with $5 million from the Economic Growth Initiative and $3 million from Alternative and Clean Energy grants.

Glatfelter is also investing $55 million of its own money into the project, company President and CEO Dante C. Parrini said in a news release.

The conversion will reduce boiler air emissions significantly and eliminate more than 5,000 heavy truck trips annually through the Spring Grove area, according to a press release.

Upon completion, Glatfelter will be one of the largest industrial natural gas users in the area, the release said.

The conversion will also sustain mill operations, protect jobs and families, attain greater energy efficiency and reduce the company's carbon footprint, Parrini said.

Glatfelter, which employs 950 workers in York County, will invest more than $100 million during the next several years to modernize the mill, the release said.

The conversion project will require a natural-gas connector line from a transmission source to the mill. The connector could create new opportunities for other industrial, commercial, nonprofit and government users in the area, according to a news release.

Blue Ridge Paper Products, NC to Convert Two Coal-Fired Boilers to Natural Gas

Blue Ridge Paper Products, a subsidiary of Evergreen Packaging, has been awarded a Job Maintenance and Capital Development Fund (JMAC) Grant to be used to convert two of its coal-fired boilers to natural gas at its Haywood County, NC plant. Funding for the JMAC grant was included in a bill with bi-partisan support signed by Governor Pat McCrory at the Western Residence in September. As a result, not only will 939 jobs be retained, but the plant will also be more energy efficient and operate cleaner.

The remaining funds will be used to retrofit three additional boilers.

The North Carolina Economic Investment Committee (EIC) recently approved the grant. The company will receive up to $12 million over ten years to make the conversion. Evergreen Packaging will invest $51 million. Blue Ridge Paper Products is the largest private employer in Haywood County.

The U.S. Environmental Protection Agency informed the company it has until 2019 to comply with federal boiler maximum achievable control technology (MACT) or be required to shut down.

The JMAC Fund is a discretionary incentive program that provides sustained annual grants to businesses that meet the requirements of a major employer or a large manufacturing employer. The JMAC Fund is intended to encourage retention of significant numbers of high-paying, high quality jobs and large-scale capital investment that will modernize processes and provide more globally competitive projects. Blue Ridge Paper Products qualifies as a large manufacturing employer. Under the statute, a business must invest at least $50 million in capital improvements designed to convert its manufacturing process to change the product it manufactures or designed to enhance pollution controls or transition the manufacturing process from using coal to using natural gas for the purpose of becoming more energy efficient and reducing emissions. In addition, the business must either be in a Tier 1 county with at least 320 full-time employees, or be in a Tier 2 county with a population of less than 60,000 as of July 1, 2013 and employ at least 800 full-time employees.

Evergreen Packaging is a global leader in creating fiber-based packaging solutions customized to deliver product freshness and brand distinction. Evergreen Packaging is a vertically integrated packaging company, delivering total solutions of barrier paperboard, technical expertise, equipment and service.

Kemira Opens Nanjing Production Base

Kemira recently celebrated the completion of the company’s new Nanjing production base. The Nanjing plant is located in the Nanjing Chemical Park, Jiangsu Province. Kemira’s already completed and future investments into the plant will amount to approximately $100 million in an area of 77,000 m2. It will provide a wide range of functional and process chemicals for water-intensive industries such as the paper industry. The estimated annual capacity is 100,000 tons.

Nordic Paper Invests SEK 30 million at Bäckhammar Mill

Nordic Paper has invested SEK 30 million ($4.2 million) in a new water pipeline at its Bäckhammar mill in Sweden. The project aims to secure water to the mill and increase its annual production capacity by 20,000 tonnes to 230,000 tonnes/yr of pulp and by 20,000 tonnes to 160,000 tonnes/yr of kraft paper, RISI repports.

The project, which started up in early September, will not affect production. The investment should be completed in 2017.

Chempolis and Numaligarh Refinery to Study Building a New Biorefinery in India

Chempolis, a Finland-based biorefining technology corporation has signed a Memorandum of Understanding (MoU) with Numaligarh Refinery (NRL, a Government of India enterprise). Parties have agreed to jointly study to build a world class biorefinery in North Eastern India (Assam) for producing biofuel ethanol with co-production of furfural and acetic acid from locally available cellulosic biomass. Bamboo is one of the major non-food biomass resources available abundantly in North East India and it is among the fastest growing plants.

“India is seriously making acts to meet the biofuel mandate to blend 5% and later 20% of bioethanol in gasoline. India can soon be a forefront of biorefining.” says Pasi Rousu, president, Asia-Pacific and Americas, Chempolis.

Stora Enso to Rebuild Skoghall Mill Chemical Plant

Stora Enso has filed an application before the Swedish Land and Environment Court to rebuild the chemical plant at its Skoghall mill. The court’s decision is expected by the end of the year.

A feasibility study with several different solutions [from reinvesting to building a new plant is currently being conducted, according to a company spokesperson, adding that the cost of a new plant would amount to Euro 10 million ($13.4 million).

The chemical plant is used to manufacture bisulphite and clorinedioxide chemicals for the mill’s pulp processes. The Skoghall mill operates two PMs with a combined capacity of 725,000 tonnes/yr of cartonboard. It also produces kraft pulp and chemi-thermomechanical pulp (CTMP) for internal consumption.

Brigl & Bergmeister Invests in 5,000 tonne Capacity Increase

At their Niklasdorf mill, Brigl & Bergmeister are investing in a 5,000 ton capacity increase and higher energy efficiency.

B&B have ordered a new film press (SpeedSizer) from VOITH for their paper machine at the Niklasdorf mill, replacing the conventional size press. In addition, a non-contact energy-efficient compact infrared and air-drying combination (qDryPro) will be installed, and the steam and condensate systems as well as the air-handling system will be modified.

These investments will increase annual capacity in Niklasdorf by 5,000 tons, at reduced energy consumption. In addition to improvements in the quality of the existing product range, this will make it possible to develop innovative speciality papers. Installation is scheduled for September 2015, as an addition to the new headbox already installed in April 2014.

At the Vevče mill in Slovenia, too, modernisation and extension measures are being implemented, initiated in 2013 by installation of a film press. Here, development focuses, among other things, on improvement of the barrier properties of flexible packaging papers.

Already today, wet-strength label papers in B&B quality can also be produced in Vevče. By expanding this segment at both mills, B&B seek to further expand their position as global market leaders in label papers for the beverage industry.

B&B is the leading manufacturer of label papers and flexible packaging papers. Annually, some 100 billion labels are printed on B&B papers, and our papers bear the face of innumerable famous brands.

Lenzing Technik to Upgrade Leaching Line at Sappi Mill in Austria

Lenzing Technik GmbH has won a contract for the upgrade of the Sappi paper mill leaching line at the Gratkorn site near Graz, Styria. In the framework of the retrofit program aimed at the long-term strategy for cellulose production at the Gratkorn site, the chemical recovery will be upgraded to be state-of-the-art. By doing so, Sappi also makes a substantial contribution to the reduction of sulfur dioxide (SO2) emissions.

The contract awarded to Lenzing Technik encompasses engineering, equipment, assembling and start-up services. The time frame for the upgrade as well as the overall execution of the order will be defined by the upgrade of the leaching line. In March 2015, the plant will be shut down and only three months later, production will resume.

The cellulose specialists from Lenzing will have the task to reduce SO2 emissions by efficiently recovering the magnesium bisulfite acid required in the cooking process that is part of fiber production, as well as extend maintenance intervals, thereby enhancing productivity. Substantial reduction of SO2 emissions is expected.

RockTenn Upgrading Stevenson Medium Mill Pulp Line

RockTenn (RKT) is spending $46 million on an upgrade of the pulp mill its Stevenson, AL, semi-chemical medium mill, which has current capacity to produce about 892,000 tons/yr on two machines. The project should generate “in excess” of 25% returns from reduced fiber and chemical usage and lower maintenance expenses, offset by slightly higher energy usage, CEO Steve Voorhees noted.

The mill is estimated to currently has two NSSC digesters which supply just under half of its fiber requirements, with the rest supplied by two OCC plants. The mill has two wide and fast corrugating medium machines, one installed in 1974 and the second in 1996 which can produce lightweight grades.

Svetlogorsk Mill, Belarus to Launch 400,000 Tonne/Yr Bleached Pulp Line

The Belarus government controlled Svetlogorsk pulp and cardboard mill is scheduled to launch production on its 400,000 tonne/yr bleached softwood and hardwood kraft pulp line in Svetlogorsk, Belarus, by July 2015.

The $860 million investment is being implemented by China CAMC Engineering (CAMCE). Metso, which has been selected as one of the suppliers, is expected to start deliveries this autumn.

Belarus plans to sell some 170,000 tonnes/yr of pulp from the new mill to the domestic market, while the rest will be exported.

Mondi Syktyvkar's Euro 30 Million Pulp Dryer Project Nears Completion

The €30 million large-scale pulp dryer project for the production of softwood market pulp at Mondi Group's Syktyvkar mill in Russia is nearing completion. Mondi Syktyvkar celebrated its 45th anniversary this year and the investment demonstrates Mondi's continued commitment to the operation. "We are proud of our mill's heritage, community relations and continued achievements", explains Peter Orisich, CEO of Mondi Uncoated Fine Paper.

"The new pulp dryer will allow us to produce more than 100,000 tonnes of FSC® certified softwood market pulp per year", says Klaus Peller, Mondi Syktyvkar managing director. "The project has been successfully managed by a professional team and we're set to officially mark the opening of the pulp dryer on 19 November 2014 as planned", explains Klaus Peller, Managing Director, Mondi Syktyvkar.

The foundation works for the pulp dryer and auxiliary equipment were finished late May 2014, while the roof and ventilation were completed this summer. In the final phase, the drying section, tanks, pipelines, electrical and automation equipment were installed during September.

The pulp dryer allows Mondi Syktyvkar to produce a new bleached softwood market pulp called KOMICELL, which is FSC® certified and produced without elemental chlorine (ECF). "This FSC® chain of custody certified product is ideally suited to meet the needs of our national and international packaging, tissue, and newsprint industry customers. Together with our proven supply chain capabilities, we are looking forward to fulfilling our customer requests - on time and in full", said Igor Naumov, Mondi Syktyvkar Market Pulp Sales Manager.

Softwood pulp is the most valuable fiber material in paper production. It mainly consists of long fibers that can be used with short-fibered materials (mechanical, hardwood, straw and cane pulp) in paper production and can also be used on its own. First deliveries of KOMICELL are planned for this year.

Mondi Syktyvkar is a part of Mondi Uncoated Fine Paper. The mill is one of the leaders in pulp and paper industry and the biggest paper producer in Russia. The company's core business is the production of office and offset paper. It also produces newsprint and White Top Kraftliner.

ACQUISITIONS/ DIVESTURES

Verso Completes Acquisition of NewPage for $1.4 billion

Verso Corporation, a leading North American producer of printing and specialty papers and pulp, today announced the completion of its acquisition of NewPage Holdings Inc. The transaction, valued at approximately $1.4 billion, originally was announced on January 6, 2014. With the completion of the NewPage acquisition, Verso will have approximately $3.5 billion in annual sales and approximately 5,800 employees in eight mills across six states.

The combination is expected to result in substantial cost synergies over the next 18 months.

Divestiture of Biron and Rumford Mills

In a related transaction, immediately prior to Verso's acquisition of NewPage, NewPage completed the divestiture of its paper mill in Biron, Wisconsin, and its pulp and paper mill in Rumford, Maine, to Catalyst Paper Operations Inc., a subsidiary of Catalyst Paper Corporation for $74 million. The divestiture, originally announced on October 30, 2014, was undertaken pursuant to a settlement with the United States Department of Justice that enabled the NewPage acquisition to proceed.

Promptly after the NewPage acquisition was completed, Verso changed its name from Verso Paper Corp. to Verso Corporation. The name change symbolizes Verso's intention to broaden its business platform and seek alternative revenue streams to augment its core printing papers, specialty papers and pulp segments. Verso's ticker symbol on the New York Stock Exchange (NYSE: VRS) will remain the same. Verso's website address has been changed to www.versoco.com.

As previously announced, Verso's existing senior leadership team will continue to lead the organization, with Paterson continuing as president and CEO. The rest of Verso's senior leadership team consists of the following persons, each of whom currently is an executive of Verso:

Lyle J. Fellows, Senior Vice President of Manufacturing and Energy, is responsible for the mill and converting network, forest resources, manufacturing technology and energy.

Robert P. Mundy, Senior Vice President and Chief Financial Officer, has responsibility for all financial areas, including financial planning and analysis, tax, corporate finance and treasury functions, accounting and audit functions, and investor relations.

Michael A. Weinhold, Senior Vice President of Sales, Marketing and Product Development, is responsible for sales, marketing, e-commerce, new business development, planning, logistics, customer service, field technical sales, product development and pricing management.

Peter H. Kesser, Senior Vice President, General Counsel and Secretary, has responsibility for all legal matters, including governance and compliance.

Kenneth D. Sawyer, Senior Vice President of Human Resources and Communications, is responsible for all human resources and people systems, including talent management and development, labor relations, performance management, compensation and benefits, as well as communications and public affairs.

Benjamin Hinchman, IV, Vice President and Chief Information Officer, has responsibility for the planning, development and operation of all information technology systems.

Joseph C. Duffy, Vice President of Integrated Planning and Control, is responsible for the integration of the two companies and other business coordination and planning activities.

In addition, following the NewPage acquisition, Verso's board of directors increased its size from 9 to 10 directors and elected Robert M. Amen, formerly a director of NewPage, to serve as a director of Verso. Mr. Amen will serve as a Class I director whose term expires at Verso's 2015 annual meeting of stockholders. It is anticipated that Mr. Amen will be nominated for election by Verso's stockholders at such meeting to serve for a term of three years.

Glatfelter Completes Acquisition of German Electrical Papers Producer

Glatfelter (NYSE: GLT) announced it completed the acquisition of Spezialpapierfabrik Oberschmitten GmbH (SPO) from FINSPO Beteiligungs-GmbH for €8.5 million (approximately U.S.$11 million).

SPO’s plant is located near Frankfurt, Germany. Its primary electrical products and applications include highly technical papers for a wide range of capacitors used in consumer and industrial products; insulation papers for cables and transformers; and materials for industrial power inverters, electromagnetic current filters and electric rail traction. SPO also produces glassine products, which are used in cosmetics packaging, food packaging, and pharmaceutical dosage bags. SPO has annual sales of about $33 million.

The acquisition of SPO broadens Glatfelter’s existing product lines for the electrical market. This acquisition also complements Glatfelter’s previously announced partnership with Dreamweaver International to develop and manufacture lithium-ion battery separators, which utilize Glatfelter’s capabilities and expertise in making advanced fiber-based engineered materials.

SPO will operate as part of Glatfelter’s Composite Fibers business unit. The unit makes fiber-based engineered materials, including filter paper for tea and single-serve coffee pots, nonwoven materials for the production of wallpaper, metallized papers, composite laminates and other materials.

Glatfelter financed the acquisition through a combination of cash on hand and borrowings under its existing revolving credit agreement. The addition of SPO is expected to be $0.03 to $0.05 accretive to earnings per share in 2015 excluding one-time acquisition and integration costs. The Company expects to incur approximately $2 million to $3 million of one-time acquisition and integration costs.

Stora Enso to Divest its Uetersen Mill in Germany

Stora Enso has signed an agreement to divest its Uetersen specialty and coated fine paper mill in Germany to a company mainly owned by the private equity fund Perusa Partners Fund 2. The cash consideration for the divestment of the shares is approximately EUR 7 million subject to customary closing day adjustments. The loss on disposal amounts to approximately EUR 30 million and will be recorded as a non-recurring item in Stora Enso's fourth quarter 2014 results. The transaction is in line with Stora Enso's strategic transformation to a customer focused renewable materials company. The transaction is expected to be completed in the first quarter of 2015 and is subject to regulatory approvals.

The transaction will enhance Stora Enso's operational EBIT and cash flow from the second quarter of 2015. Based on 2013 annual figures, the divestment is expected to reduce Stora Enso's annual sales by EUR 155 million. It will also reduce Stora Enso's annual paper production capacity by around 240 000 tonnes. Uetersen Mill employs approximately 400 people.

Stora Enso will continue to produce specialty papers at Imatra Mill and coated fine paper at Oulu Mill in Finland.

Stora Enso's previous attempt to divest the mill to Brigl & Bergmeister, an Austrian specialty paper producer, was unsuccessful due to the German Federal Cartel Office's (FCO) indicated intentions to prohibit the proposed transaction.

The private equity fund Perusa Partners Fund 2, advised by Munich based Perusa GmbH, targets at companies in special situations. Perusa GmbH was set up in 2007. The team invests in medium-sized companies or business units of larger corporations, mostly in the German speaking region and the Nordics, with the goal of actively accompanying them through a phase of transition towards their full entrepreneurial potential.

McIlvaine Company

Northfield, IL 60093-2743

Tel: 847-784-0012 Fax: 847-784-0061

E-mail: editor@mcilvainecompany.com

Web site: www.mcilvainecompany.com