BRUSSELS, Sept. 19, 2016 (PPI Magazine) -This comprehensive list of the global pulp and paper industry’s major players has been a favorite resource for PPI readers. This year, WestRock makes its Top 100 debut at No. 4.
MARK RUSHTON, GRAEME RODDEN
Following the merger of RockTenn and MWV to create WestRock, as expected the company takes its place in the “fab five” of the annual Top 100 table, coming in at No. 4 in its initial appearance.
International Paper again leads the rankings and, unless the unexpected happens (and it has been discussed), it has probably cemented its No. 1 place for years to come with its purchase of Weyerhaeuser’s pulp assets. This will only be reflected in next year’s Top 100 as Weyerhaeuser operated as a company throughout 2015. On that note, however, this will be Weyerhaeuser’s final appearance.
Other than WestRock, the top 10 companies remain as last year, with Procter & Gamble, Oji, and UPM rounding out the top five. SCA, Kimberly- Clark, Stora Enso, Smurfit-Kappa, and Marubeni rank No. 6 through 10. Disappearing from this year’s table are, as mentioned, RockTenn and MVW, as well as Wausau, which was taken over by SCA.
Included are several new entries, particularly from Korea: Long Chen, Klean Nara, Hansol, Hankuk, and Jeonju Paper. Hansol, which has appeared in this ranking before, returns at No. 63.
Canadian-based Catalyst Paper makes a big jump up the table to No. 50 from 72, thanks to its purchase of two NewPage mills; however, in late June there were reports that the company is itself the target of a takeover. (At press time, Catalyst stock had dropped following the announcement that the company would not restart PM 9 at its Powell River Mill.) Fedrigoni also made a big jump up the rankings, while Nampak’s sales fell outside the top 100 companies so it did not make the list this year.
General Notes:The Top 100 ranking is based on the net sales of pulp, paper, converting, and merchanting (PPCM) operations. The 2015 numbers are revised financial data received for this year’s report. Unless noted below, the financial year reported is January 1, 2015, to December 31, 2015. Where possible, earnings are net earnings and are calculated after tax and excluding extraordinary items. An “e” is a RISI estimate. An “NA” means “not available” and no estimate was possible. An * after the CEO’s name indicates that the person is new to this position. Tonnes (metric tons) are used throughout. Figures have been converted to US$ according to RISI currency tables at press time.
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International Paper: Production = sales.Procter & Gamble: PPCM sales include Baby, Feminine & Family Care divisions. Fiscal year runs July 1, 2014 to June 30, 2015.Oji Paper: Fiscal year runs April 1 to March 31. Production = capacity.WestRock: RockTenn and MWV completed a strategic combination of their respective businesses. RockTenn was the accounting acquirer; therefore, the historical consolidated financial statements of RockTenn for the time prior to the combination are considered to be the historical financial statements of WestRock and thus WestRock’s consolidated financial statements for fiscal 2015 reflect RockTenn’s consolidated financial statements for periods from October 1, 2014, through June 30, 2015, and WestRock’s thereafter.UPM: PPCM figure includes some sawmill and renewable diesel sales, as pulp is part of UPM’s Biorefining division. UPM sells two thirds of its pulp as Market Pulp. Market Pulp = deliveries.SCAuses approximately 40% of its pulp output internally, sells the rest to external customers. Production = capacity in Personal Care, Tissue and Forest Products divisions. PPCM net sales include some solid-wood sales and renewable energy.Kimberly-Clark: PPCM sales include K-C Professional and Consumer Tissue segments.Marubeni: Fiscal year runs April 1 to March 31. Production = capacity. Company combined Chemicals and Forest Products segments in 2016. Paper & Board Sales = 40% of segment.Nippon Paperfiscal year runs April 1 to March 31.DS Smith’s financial year runs May 1 to April 30. Company has made various acquisitions recently, including: Lantero on July 31, 2015; Duropack on May 31, 2015; Cartonpack on October 13, 2015; Milas Ambalaj on January 23, 2016; TRM on March 24, 2016. DS Smith sold StePac on May 18, 2015.Sappi: Fiscal year runs October 1 to September 30. P&B production = sales.Domtar: Production = shipments.Metsä Group: Paper & Board production does not include Tissue or Cooking Papers. Market Pulp = deliveries.Daio Paper: P&B production = capacity. Fiscal year runs April 1 to March 31.Sonoco: Production = capacity. PPCM sales include Consumer Packaging and Industrial Converted divisions and includes non-paper/ board products.Sequana: Paper & Board = tonnes sold.Verso: In 2015, Verso acquired the assets of NewPage. In January 2016, Verso filed a voluntary petition to reorganize under Chapter 11 of the US Bankruptcy Code. Production = sales.Cascades: P&B production – shipments.BillerudKorsnäs AB: P&B production = sales.Lee & Man: Fiscal year ran April 1, 2012 to March 31, 2013.Lenzing: PPCM net sales are for the Fiber Segment and include textile fibers, nonwoven fibers and the pulp unit.Siam Cement: rebranded from SCG Paper to SCG Packaging in June 2015. Production = capacity, Paper & Board = capacity.Yuen Foong Yu: Production = capacity.Hokuetsu Kishu: Fiscal year runs April 1 to March 31.Weyerhaeuser: In 2016, Weyerhaeuser sold its liquid packaging board mill in Longview, WA, to Nippon Paper Industries. It also sold its five pulp mills to International Paper.Mitsubishi Paper: Fiscal year runs April 1 to March 31. Production = capacity from RISI stats.Clearwater: Clearwater sold its specialty paper business and mills to a private buyer in December 2014.Glatfelter: Production = tonnes sold.Heinzel Group: Last year’s P&B included pulp.Portucel Soporcel: Paper & Board production includes 33 tonnes tissue. Company changed its name recently to The Navigator Company.Catalyst: Catalyst purchased the Rumford, ME and Biron, WI mills from NewPage.Palm Paperreleases limited financial results.Prinzhorn Holding: Releases limited financial information. Sales exclude Sawn Timber, Wood and Energy, which were included last year. Production from RISI data.Vinda: Production = capacity.Ahlstrom: Production = sales.Fedrigoni: Company acquired the paper mill of Salto in Brazil and the GPA mill in Chicago, IL.VPKreleases limited financial results.BILT - Ballarpur Industries: Fiscal year ran July 1 to June 30, 2016. Production = capacity from RISI stats.Kruger Products: Production = capacity.Chuetsu: Fiscal year runs April 1 to March 31. Production = capacity, from RISI stats.Tembec: Financial year ran October 1, 2014 to September 30, 2015. Market pulp and paper & board figures are shipments.Arctic Paper: P&B Production = sales.LEIPA: Releases limited financial results. Production = capacity. LEIPA acquired UPM’s Schweldt Mill early 2016.Grief: Fiscal year ran November 1, 2014, to October 30, 2015. Production = capacity. Production includes 97,500 tonnes dissolving pulp.ITC: Fiscal year runs April 1 to March 31. Production = capacity from RISI stats.Century Sunshine Group: Production = capacity.De la Rue: Fiscal year ran April 1, 2014 to March 31, 2015.ENCEshut down its Huelva pulp mill late 2014.Hankuk Paper Manufacturing, Ltd: New to list for 2016.Lintec:Fiscal year runs April 1 to March 31.
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MISSING IN ACTION
Each year, without fail, we get questions regarding missing companies—including some big Asian ones, most notably APP and APRIL, but also others, like Georgia Pacific, Kruger, Irving and SAICA. This is because these companies are privately owned and do not make their financial results public—nor are they required to. Despite this, the editorial team that puts together the Top 100 does try to get as many results as possible from private companies, with varying results.
The PPI TOP 100 is available exclusively in print in TAPPI's Paper 360 magazine September/October issue