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Latest Greenpac Mill News
Dec 15, 2020
Cascades refinances debt at Greenpac mill The Greenpac mill produces lightweight linerboard with 100 percent recycled fibers. Cascades Inc., Kingsey Falls, Quebec, has announced that its 86.3 percent owned subsidiary , Greenpac Mill LLC, has entered into an agreement to amend and restate its existing term loan and revolving credit facility that were scheduled to mature in May 2021. The amended credit facilities will mature in December 2023. The amended credit facilities consist of a $75 million term loan and a $50 million revolver. The principal amount outstanding under the term loan was reduced from $121 million to $75 million in connection with the amendment to the credit facilities. According to a news release from Cascades, co-lead arrangers and joint bookrunners on the amended credit facilities include Wells Fargo Bank, National Association, Manufacturers and Traders Trust Co. and Merrill Lynch, Pierce, Fenner & Smith Inc. Cascades’ Greenpac operates a lightweight containerboard mill in Niagara Falls, New York, which manufactures lightweight linerboard made with 100 percent recycled fibers. The mill has an annual production capacity of 540,000 short tons and employs 168 people. WestRock WestRock, Atlanta, has added Brandi Colander to its executive leadership team as chief sustainability officer. The company says Colander will strengthen its commitment to sustainability, both within the company and in the packaging solutions it provides. “WestRock is committed to a world in which fiber-based packaging plays a central role in advancing the circular economy,” says Steve Voorhees, chief executive officer of WestRock. “As we work in partnership with our customers, I am confident that Brandi’s extensive experience will help us advance our work to imagine and deliver a more sustainable future. I am very pleased that she is joining us on our sustainability journey.” Colander offers a cross-section of experience that spans the private, government and nonprofit sectors, WestRock states in a news release on her appointment. Prior to joining WestRock, Colander was most recently a principal at The Raben Group leading teams to advance client public policy goals. She has also worked as head of external relations with Charter Communications, where she created diverse partnerships and oversaw philanthropic investments. Colander also served as a deputy assistant secretary for Land and Minerals Management at the U.S. Department of the Interior and deputy general counsel for the White House Council on Environmental Quality, advising on environmental laws and policies across federal agencies with diverse stakeholders. Before joining the executive office of the president, she was an attorney with the Natural Resources Defense Council. “I am very pleased to be joining the WestRock team, a company that recognizes the important role it has to play in realizing a sustainable future,” she says. “As we continue to meet the needs of evolving consumption trends and behaviors, we are listening to the customers, consumers and other critical stakeholders who expect us to operate with future generations in mind. Aligning our environmental, social and governance priorities with the products we produce inherently drives efficiency and market value. That is the circular economy at work. I am thrilled to join WestRock as we continue our leadership in operational excellence, sustainably.” A graduate of the University of Virginia, Colander earned her master’s degree at Yale University and her Juris Doctor at Vermont Law School. She currently serves as the chair of the board of directors for the District of Columbia’s Green Finance Authority, on the Yale School of the Environment Leadership Council and the Yale Center for Environmental Law and Policy Advisory Board. In the week ending Dec. 12, U.S. raw steel production totaled 1.567 million net tons, while the capability utilization rate was 70.9 percent, according to the American Iron and Steel Institute (AISI), Washington. In the comparable week in 2019, production was 1.815 million net tons, while the capability utilization was 78.5 percent. Production for the recently completed week represents a 13.7 percent decrease from the same period in the previous year. While production largely has been increasing since the industry began to recover in May from shutdowns related to the pandemic after reaching a trough of 1.14 million tons (a 51.1 percent capacity rate) the week ended May 2, it has not done so on a steadily upward trajectory. Production for the week ending Dec. 12 is down 0.8 percent from the previous week ending Dec. 5. During that week, 1.579 million net tons of steel were produced, and the rate of capability utilization was 71.4 percent, according to AISI . Week-to-week production also dipped at times in early June, late August and late November. The association reports that adjusted year-to-date production through Dec. 12 was 75.332 million net tons at a capability utilization rate of 67.3 percent, which is 18.2 percent less than the 92.079 million net tons produced during the same period last year when the capability utilization rate was 79.8 percent. The southern region continues to lead in terms of production, having made 628,000 tons the week ended Dec. 12. The Great Lakes region was the next-largest producer at 558,00 tons. The western region produced the least steel for the week ended Dec. 12 at 72,000 tons. Equipment Inc. , West Jackson, Mississippi, has expanded with three new dealer locations, giving its customers more access to Doosan machines, parts and service. The new Equipment Inc. dealerships add to the company’s existing locations that serve customers across Alabama, Louisiana, Mississippi and Texas. Equipment Inc. began its partnership with Suwanee, Georgia-based Doosan in 2015 at its location in Shreveport, Louisiana. In 2017, the company expanded to Jackson and has continued to grow since then. The company has added dealerships in Hattiesburg, Mississippi; Theodore, Alabama; and Texarkana, Texas. In Mississippi, the Hattiesburg location will serve as a satellite location focused on parts and service. According to Scot Akins, owner of Equipment Inc., this addition was a perfect fit, since it sits about halfway between the company's Jackson and Mobile, Alabama, dealerships. The addition means the company will be able to service both markets to supplement its full-service dealerships. The location in Texarkana, which is also a parts and service location, serves a similar purpose. The Theodore dealership will function as a full-service location in the Mobile area. Customers will have access to Doosan machines, including articulated dump trucks; crawler, wheel and mini excavators; material handlers; log loaders; and wheel loaders. “We’re excited to continue to grow with Doosan,” Akins says. “We feel like it’s going to be a very good partnership and we want to continue to look in other markets as they become available. And we’re excited to have a full offering for our customers across our existing footprint.” “We’re pleased with Equipment Incorporated and how the company has prospered in the South,” David Morice, Doosan regional director, says. “Whether it’s a full-service Doosan location or a parts and service satellite store, we’re growing the Doosan dealer network to provide unmatched service to our customers.”
Greenpac Mill Frequently Asked Questions (FAQ)
Where is Greenpac Mill's headquarters?
Greenpac Mill's headquarters is located at 4400 Royal Ave, Niagara Falls.
What is Greenpac Mill's latest funding round?
Greenpac Mill's latest funding round is Corporate Majority.
Who are the investors of Greenpac Mill?
Investors of Greenpac Mill include Cascades.
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