Sylvamo to Invest $145 Million in South Carolina Facilities
The company plans to invest approximately
-
Sylvamo will invest approximately
to speed up one of its paper machines by the end of 2026, modernizing it to the same world class level as the mill’s other machine. The investment will enable the machine to produce approximately 60,000 additional short tons of uncoated freesheet annually.$100 million -
The company will also invest roughly
for a new replacement sheeter at its$45 million Sumter, South Carolina , sheeting plant. The state-of-the-art cutsize sheeter, which converts large rolls of paper from the mill into sheets, will lower costs and add flexibility to service customers when it’s online by late 2026.
“We believe investing in our low-cost assets will strengthen our competitive advantage.
Sylvamo is also entering a 20-year partnership to outsource its
The company will host an event at the mill with team members, community partners and elected officials in the coming months to celebrate the investments.
About the Eastover Mill and Sumter Sheeting Plant
Sylvamo’s fully integrated
The mill produces over
Eastover’s sheeting operation is located approximately 30 miles from the mill in
The facilities produce Hammermill®, HP Home & Office and
About Sylvamo
Sylvamo (NYSE: SLVM) is the world’s paper company with mills in
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including the information concerning Sylvamo’s planned investments and woodyard operations outsourcing and their impact. Any or all forward-looking statements may turn out to be incorrect, and our actual actions and results could differ materially from what they express or imply, because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control. These risks, uncertainties, and other factors include those disclosed in the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended Dec. 31, 2023, filed with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20250213993951/en/
Adam Ghassemi
901-519-8115
adam.ghassemi@sylvamo.com
Source: Sylvamo