Power Paperboard Limited - PPL and the Directors of Whakatāne Mill Limited - WML are pleased to confirm that the mill has just completed its first full financial year under its new ownership.

Newly appointed Chief Executive of WML, Ron Hooper, says the mill has performed extremely well over the past year, earning a record output of Folding Box Board - FBB and Carrier Board, after a total withdrawal from the Liquid Packaging Board - LPB - market.

'With a total tonnage of 143,000 tonnes per year, we've achieved record productions of Ground Wood Pulp amounting to 50,000 tonnes. We've also successfully transformed some 90,000 tonnes of LPB to other packaging grades more suited to the Mill's production capability.

'Another huge development for WML was the Board signing a new capital investment programme, dubbed by the team as ‘Operation Big Bang,' which led to a multimillion NZD investment to increase the Mill's capacity from 150,000 tonnes to 210,000 tonnes per annum,” says Ron.

WML also formed a number of partnerships and collaborations which have had a transformative effect on the company. From signing agreements with local Oceania customers heading towards 100,000 tonnes per annum, to a new supply agreement with Pulp and Power which will foster better collaboration with WML.

The collaboration with the Mill's exclusive banker, BNZ for example, has led to successful financing of the Mill's day-to-day operations and expansion programme. As a result, both WML and BNZ were confirmed as winners of the ‘Deal of the Year' accolade in New Zealand's premier financial awards dinner, the 2022 INFINZ Awards.

WML also embarked on a program to become more involved with the local community and was welcomed in a ceremony with local Ngati Awa Iwi in a Mihi Whakatua – management is proud to declare themselves as Whanau to the local Iwi.

Executive Chairman of WML, Ian Halliday says that it has been a tremendous year of growth at WML.

'Over the past year, we've seen the Mill transform under its new ownership. Thanks to the improvements we've made to WML, including expanding its production capability, and with the help of our partners and employees, it's now stronger than ever," says Ian.

WML's performance over the last year under its new ownership, coupled with a new management team consisting of CEO Ron Hooper, CFO Mickael Gohier, Sales Director Emma Webb, Operations Director Jarod McGregor and HR Director Lynsey Standen, has secured the future of the Mill and its employees for many years to come.

For more information, visit: www.wml.biz/