Sylvamo Corporation announces an Equity Buyback for $150 million worth of its shares.
September 19, 2023 at 04:15 pm EDT
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Sylvamo Corporation (NYSE:SLVM) announces a share repurchase program. Under the program, the company will repurchase up to $150 million worth of its shares. The program has no termination date.
Sylvamo Corporation is an uncoated papers company. The Companyâs segments include Europe, Latin America and North America. Europe segment produces a portfolio of uncoated freesheet papers for various uses and applications, and market pulp. The segment operates two integrated mills in the region, one in Saillat, France and one in Nymolla, Sweden. Latin American segmentâs operations is focused on uncoated freesheet paper, as well as market pulp through the ownership or management of approximately 250,000 acres of forestlands in Brazil and consists of three mills: two integrated mills in the State of Sao Paulo and one non-integrated mill in Mato Grosso do Sul. The North American segmentâs paper business manufactures uncoated freesheet papers at its mills in Eastover, South Carolina and Ticonderoga, New York and has offtake agreements to purchase the uncoated papers produced by International Paperâs Riverdale and Georgetown mills in Selma, Alabama and Georgetown, South Carolina.