Conciliator interrupts the conciliation between UPM Communication Papers and Paperworkers’ Union, conciliation continues in other UPM businesses

The Navigator Company announced today that it will be increasing prices our Uncoated Woodfree Papers by 7 to 8 % in Europe, in all products and markets. This increase will be effective from 1st July dispatches and this decision was taken following the continuous increase in our key production costs.

Neenah, Inc. announced that the Company has entered into a Term Loan Credit Agreement, providing a Term Loan B Facility of seven years in the amount of $200 million. The Facility is rated BBB-by S&P Global Ratings and Ba3 by Moody's Investors Service. Neenah also announced today that it is calling its outstanding 2021 notes for redemption in full on July 16, 2020. Proceeds under the new Facility will be used to redeem the $175 million of outstanding 5.25% 2021 notes, repay borrowings under the Company’s senior secured revolving credit facility, and for general corporate purposes. The Company also has amended its Global Asset Based Lending Agreement to reduce the revolving credit facility from $225 million to $175 million and make certain other changes related to the refinancing and resizing. The interest rate under the new Facility will be determined based on LIBOR or other published rates, with an expected initial rate of approximately 5.00%. The Term Loan Credit Agreement contains no financial maintenance covenants and includes other customary covenants for agreements of this nature. The Facility may be prepaid with a one percent call premium for the first 12 months, after which it may be prepaid, in whole or in part, without premium or penalty.

Artigo, an international rubber flooring company, will produce their next-generation flooring collections from 2025 with UPM BioMotion™ Renewable Functional Fillers (RFF). By incorporating UPM Biochemicals’ RFF, Artigo has achieved CO2 footprint savings of up to 0.5 kg CO2e/sq. meter1 and managed to reduce the weight by up to 5% per square meter flooring. UPM BioMotion™ RFF are a CO2-negative2 solution for diverse rubber and plastic applications, containing 100% renewable carbon, certified by DIN CERTCO, which is sourced from sustainably managed forests. They support carbon footprint improvements by enabling flooring manufacturers to increase their share of renewable materials in products and reduce the use of traditional highly CO2-intensive fillers, such as precipitated silica, and other fossil-carbon based raw materials. RFF deliver the same technical performance as precipitated silica in aiding flooring durability and elasticity, with the added benefit of being up to one third lighter.