Fibria made its debut in the top third of the table, at No. 28, not surprising when one considers the size of the companies that merged to make up Fibria: VCP and Aracruz.
Others making a first appearance in the Top 100 were Hunan Tiger Forest & Paper at 80, Kapstone at 91, Arctic Paper at 93 and Neenah Paper at 94. Kapstone also enjoyed the honor of being ranked fifth inFortunemagazine's list of the 100 fastest growing companies.
However, as could be expected from how the worldwide pulp and paper industry has shaken out over the past few years, the real movers were the Asians. All making a significant climb up the ladder were Cheng Loong (from No. 88 all the way to No. 70), Sun Paper, Hokuetsu, Rengo, Yuen Foong Yu, Lee & Man and Shandong Chenming. At No. 35, Shandong Chenming is still the largest Chinese company listed.
Oji Paper moved up three positions but it was enough to crack the top five as the company came in at No. 3 behind last year's one-two punch of IP and Procter & Gamble. Rounding out the top five were SCA and Stora Enso.
Two Indian-based companies, BILT and ITC, also made a move upwards from No. 98 to 95 and No. 99 to 90 respectively.
Overall, sales of pulp, paper, board and converted materials showed a significant drop in 2009 compared with 2008, from $313.8 billion to $282.6 billion. This is even below the 2007 total of $296.1 billion. Total reported paper and board production fell to 187.5 million tonnes from 199.3 million tonnes in 2008. This marked the second consecutive year of decline. Market pulp production did show a small jump up, to 38.4 million tonnes from 37.3 million tonnes.
Of the six geographic regions, all but Asia showed a decline in sales. However, the industry was not really awash in a sea of red ink compared with 2008 and the recession that hit then. Recovery was underway later on in 2009 and the corporate rationalizations that had to be made did help the bottom line. Also helping the bottom line for many US companies was the Black Liquor Tax Credit. For some, it was the difference between profit and loss in 2009.
After moving all the way to the 14th spot in 2008, due mainly to the effect of the merger between the companies, AbitibiBowater fell eight spots to No. 22. Other newsprint producers also fared poorly. Catalyst dropped 14 positions to No. 63. Weyerhaeuser dropped all the way to No. 47 from its top 20 perch but this can be explained by the significant number of sales of its pulp and paper assets that it has made.
Metsa Botnia came in at No. 57, down from No. 35 in 2008. Unfortunately, a fixture in these tables for many years, Fraser Papers, has disappeared completely after filing for bankruptcy and selling most of its assets. Perhaps the companies such as Twin Rivers and Fortress Paper now trying their luck with the former Fraser properties will make their way onto this table in the future.
The Million Tonners Club (paper and board production) was slightly up from 54 to 55 companies in 2009. IP, Stora Enso and UPM still fill the top three spots. SCA with its strong tissue position moved all the way to No. 4 from No. 9. Kapstone not only made its debut on the "Monster Table", it is already a member of the Million Tonners Club, coming in at No. 53 with 1.03 million tonnes produced.
Another newcomer was Clearwater Paper. Billerud and Weyerhaeuser did not make the mark in 2009.
Those just outside the Top 100 include new comer China National Paper Industry Investment, Lintec Corporation, Shandong Bohui Paper, Copamex and Gascogne.
The million tonners' club
|(Those companies making more than one million tonnes of paper and board in 2009)|
|Company||2009 Top 100 Rank||P&B Output (1,000 tonnnes)|
|Svenska Cellulosa Aktiebolaget (SCA)||4||8,841|
|Nippon Paper Industries||6||6,886|
|Nine Dragons Paper||39||6,520|
|Smurfit Kappa Group||10||6,300e|
|Lee & Man Paper Manufacturing||48||3,550|
|Shandong Chenming Paper Holdings||35||3,040|
|Yuen Foong Yu Group||52||2,275|
|Packaging Corporation of America||34||2,048|
|Graphic Packaging International||21||2,032|
|Hokuetsu Kishu Paper||42||1,447|
|Shandong Huatai Paper||89||1,187|
|Suzano Papel e Celulose||38||1,088|
|KapStone Paper and Packaging||91||1,034|
|Total of 55 companies||171,553|
|See notes accompanying production figures on the Top 100 tables for futher details.|
Geographic portrait of this year's top 100
|No. of companies1||2009Sales2($ million)||2008Sales ($ million)||% change 2009/
|% of total 2009||Mkt pulp3(1,000 tonnes)||% of total 2009||P&B4(1,000 tonnes)||% of total 2009|
|Oceania||2||10,590||11,673||-9.3||3.7 0||0.0 770||0.4|
|1. Due to consolidation moves, some companies have been added and deleted from the Top 100. This will affect the regional breakdown compared to previous years. Companies are listed in a particular region according to the location of their headquarters. 2. Sales from pulp, paper, converting and merchanting only. 3: Only companies making and reporting market pulp are included. 4: Only companies making and reporting paper and board are included.|
Portrait of the top 100 by corporate size
|% of total
|1: Sales from pulp, paper, converting and merchanting only. 2: Only companies making and reporting market pulp are included. 3: Only companies making and reporting paper and board are included.|
PPI Top 100 of 2009 in alphabetical order
|BILT Ballarpur Industries||95|
|Celulose Nipo-Brasileira (CENIBRA)||98|
|Chuetsu Pulp and Paper||67|
|De La Rue||83|
|EUROPAC Papeles y Cartones de Europa||96|
|Graphic Packaging International||21|
|Hengan International Group Company||60|
|Hokuetsu Kishu Paper||42|
|Hunan Tiger Forest & Paper Group||80|
|KapStone Paper and Packaging||91|
|Lee & Man Paper Manufacturing||48|
|LEIPA Georg Leinfelder||75|
|Mitsubishi Paper Mills||36|
|Nine Dragons Paper Group||39|
|Nippon Paper Industries||6|
|Packaging Corporation of America||34|
|Procter & Gamble||2|
|Reno de Medici||92|
|Shandong Chenming Paper Holdings||35|
|Shandong Huatai Paper||89|
|Smurfit Kappa Group||10|
|Suzano Papel e Celulose||38|
|Svenska Cellulosa Aktiebolaget (SCA)||4|
|Tokushu Tokai Paper||77|
|West Fraser Timber||76|
|Yuen Foong Yu Group||52|
Missing in action
|We get questions every year about why some prominent companies are not in the Top 100. The reason is most of these missing companies are privately owned and they do not make their financial results public. Below is a list of firms that would almost certainly make our list if their financials were available: APP; APRIL; Carter Holt Harvey; Georgia Pacific; Ilim Pulp; Irving; Kruger; Grupo Orsa; Saica; Visy and Pratt Industries ; White Birch Paper.
Also, Newark, FiberMark and Caraustar have all been companies in the Top 100 list previously but have not released financial results recently due to Chapter 11 status. Fraser Papers, also a previous contender has now been sold.
See Related Tables (pdf format):