PSI seeks member feedback for preamble of ‘Scrap Specifications …

February 15, 2018 Posted by admin

International Paper (IP), Memphis, Tennessee, has decided to convert a paper production line at its Selma, Alabama, mill from uncoated freesheet copying paper to packaging board production.

The paper machine changeover is part of a $552.7 million investment into the Riverdale Mill in Dallas County, Alabama, near Selma.

In September 2017, IP announced plans to invest around $300 million at the Selma plant as part of a plan to grow its industrial packaging business. The additional investment expands on those plans to convert a line making uncoated freesheet, or copy paper, to the production of whitetop and kraft linerboard, as well as containerboard.

A press release from the Alabama Department of Commerce states, “These products are important to the packaging industry, which is experiencing a boom due to surging levels of e-commerce.”

“Our system runs most effectively when there is flexibility, and this conversion will also help us define a more streamlined and balanced system overall,” Tim Nicholls, IP’s senior vice president of industrial packaging for the Americas, said when the original investment was announced in September 2017.

“This is a tremendous investment in our community, and solidifies the presence of IP in Selma and Dallas County,” comments Selma and Dallas County Economic Development Authority Executive Director Wayne Vardaman “IP is Dallas County’s largest employer with over 750 employees and numerous indirect jobs. These employees now know that the Riverdale Mill is here to stay.”

Dallas County officials say IP is making the largest industrial investment in the county in many years. “This latest number floored us all,” Dallas County Probate Judge and Commission Chairman Kim Ballard remarks. “It’s the biggest investment in Dallas County that I remember.”

Vince Perez, a project manager at the Alabama Department of Commerce, said the IP project is tapping into the Alabama Reinvestment Act, a modified abatement act designed to assist companies reinvesting in a facility to prevent it from becoming a “legacy plant,” which ceases to get new investment and sheds jobs.

“This project is another indication of International Paper’s strong commitment to its Riverdale Mill and its workforce there,” says Greg Canfield, secretary of the Alabama Department of Commerce. It’s a great example of a company preserving its investment in a facility, and the jobs there, by pivoting output from one product to another that is in greater demand.”

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Cops: Milford man stole, sold scrap gold from place of business …

February 14, 2018 Posted by admin

MILFORD — A Milford man faces larceny charges after police said he stole and sold scrap gold from his place of business.

Michael Reekie, 53, of Milford, was charged by Milford Police with forth-degree larceny and three counts of third-degree larceny.

On Monday, Milford cops took custody of Reekie for two active arrest warrants. Police said Reekie is accused of stealing and selling scrap gold that was meant to be melted down while he was working at Valentine’s Diamond Center, Inc., at 350 Boston Post Road.

Reekie was held on a $7,500 bond and is scheduled to appear in court on Feb. 13.

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The Olympic Silver Medal Value Reveals A Fascinating Part Of Olympic History

February 13, 2018 Posted by admin

The ultimate goal of Olympic athletes is to go home with the gold. But considering the level of competition at the games, placing at all is more than impressive. Along with the prestige of being a medal recipient, the awards themselves have worth. The Olympic silver medal value, for example, may surprise you. However, just how much you can get for a medal varies depending on how you break it down.

One way to cash in on a medal is to melt it down and sell it for scrap metal. Gold, silver, and bronze medals all weigh roughly a pound and measure at about one-third of an inch thick, according to the PyeongChang Organizing Committee. Silver medals are solid silver, and Forbes values them at about $320. Golds are worth a bit more, although they aren’t made entirely of pure gold. First place medals are about one percent pure gold plating on top of silver, making them worth about $577. Bronze medals aren’t even worth melting down though; they are composed of a copper alloy and would only get you $3.50.

Of course, melted down metals are often worth a lot less than intact. Instead, selling them at auction is the way to go if you really want to cash in. Jonathan Scheier, the consignment director of sports memorabilia at Heritage Auctions, told TIME that silver medals earn between $10,000 and $30,000 at auction — less than the $20,000-$50,000 you would get for a gold, but more than the under $10,000 price tag for bronze.  

Michel Cottin/Agence Zoom/Getty Images Sport/Getty Images

Not all medals are created equally, though. Scheier also told TIME the recipient of the medal also influences its value:

For example, the gold medal awarded to track and field star Jesse Owens at the 1936 Berlin Olympics sold for a whopping $1,466,574 at auction, according to In that case, it was the context of the award that upped its value. Owens, a black man, won four gold medals that year and symbolically debunked Hitler’s claim of “Aryan supremacy” in athletics. Context, more than content, made his medal so valuable. Value also differs depending on which Olympic Games the medal comes from. In general, Summer Olympics medals are worth more, but that can vary as well.

Despite how much work goes into earning them, Olympic medals often pop up on the auction block, and even on eBay. There is ample interest in them, as well. Don Bigsby, president of the Olympin Collectors Club, told USA Today that it is the thrill of the chase that draws many collectors in:

Along with the appeal of vigorous athletic competition, each Olympic medal is also a work of art. This year’s medals were designed by the famous South Korean designer, Lee Suk-woo, according to Forbes. Utilizing the Korean alphabet Hangeul, he spelled out “Olympic Winter Games PyeongChang 2018.” [The designer integrated tree trunk imagery into the design, which organizers told Forbes is meant to symbolize both Korean culture and the work that went into organizing the games in PyeongChang.

The value of an Olympic medal is dependent on a number of factors, and you could be looking at hundreds, or thousands, or even millions of dollars. The pride and sense of accomplishment that comes from earning such a distinction is priceless, but it’s always good to know that there is another way to cash in on your success.

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