Major Announcements

UPM will suspend purchasing of wood in and from Russia as well as the UPM Chudovo plywood mill operations for the time being. The company is preparing a mitigation plan accordingly. UPM also informed on 3 March 2022 that it will cease deliveries to Russia.

MM has stopped all cartonboard deliveries to Russia.

The ban will affect the countries from 'unfriendly' states list recently released by Russia, including the U.S. and the EU countries. According to the Ministry of industry and trade of Russia, the ban will ensure the needs in the domestic market in affordable raw wood, as well as stimulate a further increase of wood processing within the country.

Cascades Inc., a leader in sustainable recycling, hygiene and packaging solutions, unveiled its 2022-2024 strategic update that commits to leveraging the Company's strong asset base and product portfolio to accelerate value creation and improve profitability. The strategy also introduces new financial targets focusing on free cash flow generation and a plan to improve profitability of its Tissue Group.

Canfor Pulp Products Inc. is announcing a minimum six-week curtailment of BCTMP production at Taylor Pulp in response to significant transportation shortages that have resulted in inventories at the pulp mill reaching capacity.

The majority of operations at Columbia Pulp LLC will shut down for an undetermined length of time starting Friday, Feb. 18, while the young company works on developing a market for its unique product.

Cascades announced an expansion plan in the isothermal distribution market with the commissioning of a new production site in the western United States, in Tacoma (WA), and with the launch of new products under its northbox® brand of insulated boxes for fresh foods.

Stora Enso is starting a feasibility study for the possible conversion of an idle paper machine at its Oulu site in Finland for a high-volume consumer board line. On a successful completion of the feasibility study, an investment decision could be made by the end of 2022 with start-up in 2025.

The conversion is scheduled for completion by the end of 2023.

Today (Feb. 24) the union announced a three weeks' extension to the strike at most UPM's Finnish mills, until 2 April 2022, unless new collective labour agreements are reached before that.

Ewertz replaces current CFO, Toby Lawton, who is leaving his position for personal reasons.

Greif, Inc., a global leader in industrial packaging products and services, announced that Ole Rosgaard assumed the role of President and Chief Executive Officer, consistent with the company's previously announced succession plan. Mr. Rosgaard succeeds Pete Watson who will become Executive Chairman of Greif's Board of Directors. Mr. Rosgaard has also been nominated to serve on Greif's Board of Directors, which will be voted upon at the Annual Stockholders' Meeting on March 1, 2022.

The Finnish Paperworkers' Union has today informed UPM that their strike at UPM's Finnish mills will be extended by three weeks until 12 March 2022, unless new agreements are reached before that. The Paperworkers' Union's strike at UPM Pulp, UPM Biofuels, UPM Communication Papers, UPM Specialty Papers and UPM Raflatac units in Finland started 1 January 2022. Currently, approximately 200 union members are working in tasks critical to society, such as power plants and water treatment facilities.

Canfor Pulp Products Inc. is announcing changes to the senior leadership team. After 14 years with Canfor, Alan Nicholl, Executive Vice President, Bio-Based Solutions & Pulp Operations, has accepted the role of Managing Director with Licella Holdings, Canfor's joint venture partner in Arbios Biotech (Arbios) effective April 2022. Alan will continue to serve as President & CEO of Arbios.

Rayonier Advanced Materials Inc., a global leader in the production of high purity cellulose pulp, announced the introduction of a second generation (2G) bioethanol product for Europe's fast-growing biofuels market.

Appvion, LLC, a portfolio company of Wynnchurch Capital, L.P., announced that it has appointed Laurie D. Andriate as Chief Executive Officer, succeeding George Wurtz upon his retirement.

Green Bay Packaging Inc. has announced it will begin construction of a new 600,000 square foot corrugator plant in Fort Worth, Texas. Construction on the site is set to begin in the first quarter of 2022 and startup operation is scheduled for the second quarter of 2023.

Georgia-Pacific has announced the acquisition of property in Centralia, saying in a news release it intends to expand its corrugated packaging operations in the Pacific Northwest.

Dunn Paper, a leading manufacturer and supplier of high performance, advanced paper and tissue for use in food, medical, and specialty markets announced the appointments of Founder Brent Earnshaw as Chief Executive Officer and promotion of Wade Kemnitz to President of the Company.

Huhtamäki Oyj's President and CEO Charles Héaulmé has been diagnosed with a cancer which has a very good recovery prognosis but requires a treatment period. He will therefore be taking a leave of absence from early January, to undergo treatment. He is expected back in Q2 2022.

Canfor Pulp Products Inc. announced an extended outage on one production line at its Northwood Northern Bleached Softwood Kraft ("NBSK") Pulp mill located in Prince George, British Columbia ("BC"). The outage is to enable the rebuild of the lower furnace of its number one recovery boiler ("RB1"), in order to ensure the safe and reliable operation of the boiler.

Rayonier Advanced Materials Inc. announced that its Board of Directors elected Vito J. Consiglio to succeed Paul G. Boynton as President and Chief Executive Officer and Board member effective January 1, 2022. Mr. Boynton, who has served as President and CEO since the Company's spin-off in 2014, announced his decision to retire from the Company, and, as part of the leadership transition, he will assume the role of Vice Chair of the Board until the May 2022 Annual Meeting.

International Paper will build a state-of-the-art corrugated packaging plant in Atglen, Pennsylvania. The facility will employ approximately 150 team members.

Resolute Forest Products Inc. announced the indefinite idling of pulp and paper operations at its Calhoun (Tennessee) mill. Tissue manufacturing and converting will continue at the site and the adjacent distribution center will remain in full operation.

Georgia-Pacific Corp. announced that will add a new paper machine, converting equipment and 150 new jobs.