Oslo, Norway-based pulp and paper trading exchange Norexeco ASA has signed an agreement with Myles Cohen to have him investigate opportunities for financial pulp and paper futures in North American markets. Norexeco is a regulated commodity exchange that offers trading in cash-settled financial futures, designed to offer those in the pulp and paper sectors with methods to manage risk and capture opportunities. Cohen will help with this work from his office in Georgia.
Cohen currently serves as founder and managing director of Circular Ventures LLC, which provides advisory services to various industries on environmental, social and governance issues. He previously worked as a division president at Conyers, Georgia-based Pratt Industries and at Hartsville, South Carolina-based Sonoco Products Co.
Stein O. Larsen, CEO of Norexeco, says Cohen’s 20 years of leadership experience in the waste management and paper industry as well as the financial industry make him well-suited to investigate if and how the industry can take advantage of the opportunities using futures managing price risk.
“Having served in senior executive roles in two multibillion-dollar North American-based pulp, paper and packaging companies, I’ve experienced firsthand how fluctuating prices can create volatility in costs and profitability,” Cohen says. “Financial futures are a great tool to make sure you stay within your risk limits and tolerance for loss. Norexeco has a great setup and the necessary experience needed for the international markets, and I am looking forward to working with them to explore opportunities in North America and assist companies to mitigate their risk.”