Region Archives: US East

BETHESDA, Md.–Enviva, LLC, a leading producer of industrial wood pellets, today announced its successful emergence from Chapter 11 bankruptcy protection, marking a significant milestone in the Company’s strategic transformation. Enviva is well-positioned for long-term growth and consistent operating performance, allowing the Company to serve its customers as a market leader and critical partner in meeting their demand for renewable fuel. Enviva’s Plan of Reorganization was confirmed by the U.S. Bankruptcy Court for the Eastern District of Virginia, with overwhelming support from the Company’s key stakeholders and business partners. As part of its financial restructuring, Enviva has equitized more than $1 billion of indebtedness and American Industrial Partners Capital Fund VIII has become the largest shareholder of the Company. …on emergence, Glenn Nunziata … has been appointed Chief Executive Officer, and James Geraghty … has been named Chief Financial Officer.

GREEN BAY — Green Bay Packaging on Wednesday announced a multi-year investment to modernize its 59-year-old pulp and containerboard mill about 40 miles northwest of Little Rock, Arkansas. The company in a media release said the “substantial investment” will enhance infrastructure at the Kraft mill in Morrilton, Arkansas and improve the sustainability of Green Bay Packaging’s operations in the state. “To uphold our commitment to innovation and excellence, we recognize the importance of investing in future technology,” said Matt Szymanski, vice president of mill operations. “These investments only happen because of our hard-working and loyal workforce and a supportive community in Morrilton, Arkansas.” …The company, as part of the modernization, plans to purchase another 300 acres of land near the mill to accommodate future expansions.

MICHIGAN — Billerud’s Board of Directors has decided on a strategic investment program of approximately SEK 1.2 billion in the Escanaba mill and SEK 0.2 billion in the Quinnesec mill. These investments will enable the transition towards paperboard production. “We have an exciting plan in North America going forward, benefitting on sizable market opportunities, coupled with our attractive Midwest location, competitive assets and excellent paperboard capabilities in Billerud. …The upgrade of the woodyard in Escanaba is set to begin immediately, with the bulk of the work scheduled for the second half of 2025,” says Ivar Vatne, CEO of Billerud. …Billerud’s total investments in 2024 will amount to around SEK 2.5 billion. In 2025, the total investments are estimated to amount to around SEK 3.4 billion.

MICHIGAN — The former owner of a West Michigan timber harvesting business has been sentenced to 41 months in federal prison for cheating investors of more than $2 million. Authorities said Trent Witteveen of Montague ran a Ponzi scheme involving phony documents and misusing some investors’ money to repay others. U.S. Judge Robert Jonker also ordered Witteveen, who pleaded guilty to wire fraud, to pay $844,282 in restitution. The grand jury’s indictment laid out the background this way, saying Witteveen “earned his living in the timber harvesting business, initially as a subcontractor or independent contractor to sawmills: He registered a company called Tall Timber and ran the fraud scheme from June 2018 to January 2021, the indictment charged. It described how Witteveen approached landowners whose property had hardwood and softwood trees for purchase by the lumber industry and sawmills, mostly around Pentwater and elsewhere in Northwest Michigan.