Canfor Corporation announced the completion of the subdivision and sale of its Forest License in the Mackenzie Timber Supply Area (TSA) equally to the McLeod Lake Indian Band and the Tsay Keh Dene Nation. “Building on our long-standing relationships, Canfor is pleased to have reached this arrangement that will expand the Nations’ participation in the forest economy and stewardship of forest resources in the region,” said Stephen Mackie, Executive Vice President North American Operations. “We believe this agreement will support improved fibre access in the TSA and generate significant economic benefits for local and regional communities.” Total proceeds from this tenure sale and the previously announced disposition of associated Mackenzie sawmill assets are $69 million.

Our Kingsport Mill was named the 2024 Business Recycler of the Year by the Tennessee Recycling Coalition (TRC) during the organization’s annual Tennessee Sustainability Conference. The award is given annually to businesses that practice outstanding leadership in recycling and waste prevention. The Kingsport Mill award recognizes Project Smoky — the conversion of the facility’s uncoated freesheet paper machine into the company’s first 100-percent recycled containerboard facility. The mill, which resumed operations in January 2023, is home to the second-largest recycled containerboard machine in North America and is the largest recycled manufacturer in the state of Tennessee. Kingsport Mill now produces approximately 600,000 tons of high-quality recycled linerboard and corrugated medium every year.

Lecta is pleased to announce the launch of its new ​Termax range of high substance thermal papers, designed specifically for ticketing applications. This new product offering is designed to meet the growing demands for quality and durability for a wide range of applications in admission and access control ticketing for events, transportation tickets, boarding passes, parking lot tickets, data carrier tags for product identification and tracking in the supply chain and logistics and supermarket shelf labels, among others. The new Termax products include Termax TFX (phenol-free) and Termax TFS (BPA-free) papers, available from 105 to 130 g/m2, and the top coated Termax TC30X (phenol-free) paper, available from 115 to 135 g/m2. These papers are characterized by their excellent pre-printing on both sides, and their high thermal image stability and durability.

Phoenix Tag™ is engineered to deliver exceptional durability and strength, making it ideal for a wide range of applications, including tags, labels, and specialty packaging. This robust paper product is designed to withstand the rigors of industrial use while maintaining excellent print quality and performance. Whether for retail tags, industrial labeling, or high-end packaging, Phoenix Tag™ offers the reliability and versatility that businesses demand. Phoenix Ledger™ is crafted with precision for applications that require superior surface smoothness and consistent performance. This premium product is perfect for financial records, certificates, and high-end printing tasks where quality cannot be compromised. Phoenix Ledger™ offers excellent opacity and smoothness, ensuring crisp and clear prints for professional-grade documents.

In its third sustainability report, which was published at the end of August, the family-owned company provides an insight into further details of its sustainability strategy, how it is being implemented and what progress has already been made. What’s more, the Koehler Group has set 38 ambitious goals in different areas of action and is revealing them for the first time in the report. As a family-owned company, the Koehler Group firmly believes that it too has a responsibility to contribute to the UN Sustainable Development Goals through its business activities. With the publication of the 2030 Sustainability Strategy in 2022, the Koehler Group set out the company’s roadmap to sustainable growth.

Containerboard production at Norske Skog Golbey in France is expected to start during the first quarter of 2025, previously the second half of 2024. Commissioning of roll warehouse, containerboard winder, and the effluent station is ongoing. In addition, pre-commissioning (I/O check) has started for the OCC drum pulper and will start in early October for the paper machine (PM1). The BCTMP main study at Norske Skog Saugbrugs has commenced with support from engineerng consultants and vendor dialogues. Final investment decision is still expected during the first half of 2025.

UPM Raflatac, a global supplier of innovative and sustainable self-adhesive paper and film products, has recently earned APR Design® for Recyclability Recognition for its clear and white polypropylene (PP) labels with hotmelt, UPM Raflatac SmartCircleTM wash-off adhesive, and general-purpose acrylic adhesives. This recognition from the Association of Plastic Recyclers (APR) validates that these labels meet or exceed the recycling criteria for polyethylene terephthalate (PET) and high-density polyethylene (HDPE) bottles in the North American recycling system. Notably, this accolade marks the first pressure-sensitive label (PSL) material certified by APR for natural HDPE.

Supremex Inc., a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions, announced today the release of its inaugural Environmental, Social and Governance (“ESG”) report. The ESG report, which covers activities for the fiscal year ended December 31, 2023, underlines the Company’s commitment to understand the full scope of its impact on the environment and society before establishing sciencebased targets. “As stewards of the environment, responsible corporate citizens, and advocates for positive change, we recognize the critical role ESG plays in shaping our future,” said Stewart Emerson, President and Chief Executive Officer of Supremex. “A more thorough understanding of our impact in such areas will provide Supremex with the ability to carry out targeted sustainability practices and initiatives that will have a significant positive effect on the environment, our employees and local communities. We are dedicated to being a transparent and accountable organization, and look forward to sharing our progress as we continue along our ESG journey.”

The Supervisory Board of Heinzel Holding GmbH is pleased to announce the appointment of Karl Achleitner (MEng, MBA) as Chief Operating Officer (COO) of Heinzel Holding, effective September 2, 2024. Achleitner will join the top management team of HEINZEL GROUP, alongside CEO Sebastian Heinzel. Karl Achleitner (born 1977) brings extensive industry experience to his new role. He began his career at the Laakirchen paper mill in Austria, training as a paper technician in the 1990s. He later served, amongst other roles, as assistant to the production manager on Laakirchen’s PM10 from 2002 to 2007. Achleitner's career then took him to the United Kingdom (Aylesford Newsprint Ltd. 2007-2011) and Australia (Orora Paper 2011-2018). Most recently (2018-2024), Achleitner held the position of Senior Vice President Operations Paper at Progroup Paper in Germany, being responsible for the company’s containerboard machines as a member of Progroup AG’s executive management team.

EcoVadis has awarded UPM a platinum score based on the company’s sustainability performance in four categories: Environment, Labour and Human Rights, Ethics and Sustainable Procurement. Only one percent of the 130,000 global companies assessed received a platinum rating. UPM scored 81/100 in the Manufacture of Pulp, Paper, and Paperboard industry. “The feedback from Ecovadis, both on strengths and areas of improvement, is extremely valuable and helps us to continuously improve our sustainability performance,” says Sami Lundgren, Vice President, Responsibility, UPM.

Sappi has awarded GAW technologies with an order to increase the efficiency of production processes - in detail to expand the storage of starch as well as a retrofitting / boosting of efficiency for pigment tanks at its Ehingen mill in Germany. The order also includes several safety technical audits of existing silos. The equipment deliveries are scheduled for the end of this year and beginning of 2025. Health, Safety and Environment are very important factors in the strategies and within the success of Sappi. Just recently, Sappi has again achieved Platinum, the highest rating in EcoVadis' sustainability assessment across all three of its manufacturing regions - Europe, North America, and South Africa.

Drytac, the leading international manufacturer of self-adhesive materials for the large-format print and signage markets, is delighted to announce the launch of Interlam Eco Anti-Graffiti pressure sensitive overlaminate film in North America. A 1.0 mil (25μ) clear PET laminating film, Interlam Eco Anti-Graffiti is designed to safeguard graphics from vandalism such as graffiti. Coated with a pressure-sensitive acrylic adhesive and shielded by a siliconized PE coated paper release liner, the film ensures exceptional durability and performance in all applications. The film’s robust anti-graffiti features ensure the easy removal of unwanted markings without damaging the substrate or printed graphics, while its strong resistance to dirt and pollutants also maintains pristine graphics over time.

*Operating profit for January-June 2024 amounted to SEK 1 927 million (January-June 2023: 2 875). The decrease in operating profit is due to lower paper prices and the positive impact of income from the sale of surplus electricity the previous year. *Compared with the first quarter, operating profit for the second quarter increased by SEK 39 million to SEK 983 million. The operating margin was 17 per cent (17). *Profit after tax for January-June amounted to SEK 1 487 million (2 261), which corresponds to earnings per share of SEK 9.3 (14.0).

Drytac will carry out live demonstrations of its leading products at Booth SL6089, while its materials will also feature across the stands of partner companies throughout the event. Drytac, the leading international manufacturer of self-adhesive materials for the large-format print and signage markets, is delighted to announce details of its upcoming appearance at PRINTING United Expo 2024. Running from September 10-12 at the Las Vegas Convention Center in Nevada, PRINTING United Expo 2024 will welcome thousands of visitors from both the North American market and further afield across the wider print industry.

*Q2 2024 net loss from continuing operations was $14.5 million or $0.08 per share (diluted), compared to net loss of $13.4 million or loss of $0.08 per share (diluted) in Q1 2024. Adjusted EBITDA for Q2 2024 was negative $12.1 million compared to negative $3.5 million in Q1 2024. Both the lumber and paper operations had a negative contribution to Q2 2024 as a result of weak market conditions. *Lumber sales volumes in Q2 2024 were lower than Q1 2024 due to the continued drag on lumber demand as housing affordability remains significantly impacted by high mortgage rates. There also remain an oversupply of lumber, which resulted in lower field takeaways. Average realized lumber prices of $637/mfbm for Q2 2024 were also lower than the $644/mfbm pricing realized in Q1 2024. Benchmark prices continued to be under pressure subsequent to Q2 2024. The recent cuts by the Bank of Canada is signalling a reversal in monetary policy. *The valuation provision for lumber and log inventory was increased to $3.2 million from $1.0 million at the end of Q1 2024, generating a $2.2 million charge to lumber cost of sales in Q2 2024. *Our lower duty rate has positively impacted the Company’s earnings and free cash flow since August 1, 2023. The Company’s initial duty deposit rate, totaling 20.23%, remained in effect for almost two years, since the Company’s acquisition of its sawmill and paper mill assets on August 28, 2021. *The Company plans to complete a spin-out transaction of Kap Corporation (“Kap”), the holding company of Kap Paper Inc., which holds all operating assets related to the paper mill operations.

Lecta is set to reinforce its position as a comprehensive supplier of paper solutions by taking a stand for the first time at Fachpack, a leading trade fair for the packaging industry that takes place this year from September 24 to 26 in Nuremberg, Germany. The company will showcase its wide range of innovative products for different sectors like industrial and consumer packaging. Lecta offers an extensive portfolio of papers with multiple applications in the packaging market: *Diva Art: The range of coated and metallized paperboards for rigid packaging, with excellent printability and an exceptional finish, ideal for premium and luxury brands. *EraCup: A functional paperboard whose characteristics make it the ideal choice for hot beverage single-use cups and on-the-go disposable food containers. The product is recyclable in standard paper recycling circuits. *Coral (uncoated), Creaset (one-side coated) and KraFit (brown kraft paper): Three versatile ranges of papers for shopping bags, available in a wide variety of grammages and finishes, offering high resistance and durability. *Adestor: Self-adhesive papers and films to meet the labeling needs of different sectors: beverages, food, logistics and transport, retail, personal care and household.

Financial Highlights – Second Quarter vs. First Quarter *Net income of $83 million ($1.98 per diluted share) vs. $43 million ($1.02 per diluted share) *Cash provided by operating activities of $115 million vs. $27 million. Management Summary from Chairman and Chief Executive Officer Jean-Michel Ribiéras: "In the second quarter, price and mix were favorable and input costs largely remained stable compared to last quarter. Uncoated freesheet conditions improved in the first half of the year, with year-over-year demand up in Europe and North America and down slightly in Latin America. After successfully completing our heaviest planned maintenance outage quarter of 2024, we have more than 70% of our annual planned maintenance outages behind us."

Mativ Second Quarter 2024 Highlights *Sales of $523.8 million increased 4.7% sequentially versus Q1 2024 reflecting volume improvement, and decreased 0.5% versus the prior year *GAAP loss was $1.4 million, GAAP EPS was $(0.03), which included organizational realignment, impairment, divestiture and purchase accounting expenses. Chief Executive Officer Julie Schertell commented, "We are pleased to report that our second quarter results reflect strong adjusted EBITDA and margin growth, both on a year-over-year basis, as well as sequentially. This was driven by strong relative net selling price vs. input cost performance, increased volume and improved operating performance. We are confident in our ability to deliver strong adjusted EBITDA improvement on a year-over-year basis for the remaining quarters of 2024.”

The pulp market registered another favorable performance during the second quarter of 2024, which reflected in another round of price increase implementations and in sales growth, despite a challenging scenario that emerged in China. The quarter was also marked by the appreciation of the average USD against the average BRL during the period, contributing to an increase in net revenue. Additionally, operational performance remained in line with the plan, with cash cost of production (excluding the effect of scheduled maintenance downtimes) marginally higher than in the previous quarter. This combination of factors resulted in a significant increase in adjusted EBITDA from pulp compared to both 1Q24 (+42%) and the same period of the previous year (+74%). At the paper business unit, sales volume increased chiefly due to seasonality, while prices remained practically stable (+1%). As such, consolidated adjusted EBITDA in the quarter totaled R$6.3 billion, while operating cash flow reached R$4.5 billion.

Operating performance for the third quarter was substantially above last year with the group delivering EBITDA(2) excluding special items of US$151 million. Despite the third quarter being seasonally the weakest for our business and a sluggish global economy, the underlying profitability, excluding a US$30 million impact of the scheduled maintenance shuts at Saiccor and Somerset Mills, remained steady quarter-on-quarter. The performance was driven by sustained strong market conditions in the pulp segment, offset somewhat by a muted recovery in paper markets. Included in EBITDA was a positive plantation fair value price adjustment of US$3 million.

Chief Executive Officer John D. Romano commented, “Tronox’s second quarter performance was consistent with our previous guidance and demonstrated the continued recovery across both TiO2 and zircon. Our TiO2 volumes increased 8% compared to the first quarter, or 16% compared to the prior year quarter, as we continued to see demand increase across all regions, consistent with seasonal trends. Zircon demand remained relatively stable compared to the first quarter. Pricing for both TiO2 and zircon increased from the first quarter into the second, as expected, partially offset by unfavorable mix. We generated $84 million in free cash flow in the quarter and returned $41 million to shareholders in the form of dividends. “On the operations side, our average pigment plant utilization rate in the second quarter was lower than targeted, driven by short-term challenges relating to ramping up our assets. As a result, we incurred higher costs in the second quarter than anticipated and delivered Adjusted EBITDA at the lower end of our guided range. While this will impact the margins of pigment sold in the third quarter, the operating challenges we experienced during the ramp up in the second quarter are resolved, and our average pigment plant utilization rate for July was in the range of 80%.”

Canfor Corporation is pleased to announce the completion of the acquisition from Arkansas Resolute El Dorado Inc., of its lumber manufacturing facility in Union County, Arkansas. The transaction, previously announced on May 1, 2024, is a strategic complement to the Company's existing regional operations, including its adjacent El Dorado Laminating Plant and its nearby Urbana sawmill. Renamed as the Iron Mountain sawmill, this acquisition will create operational synergies with Canfor's existing facilities, provide vertical integration opportunities with its two glulam plants and build further capacity near customers and markets in the US South.

April–June 2024 (4–6/2023): *Sales were EUR 1,480 million (1,481). *Operating result was EUR -12 million (127). Comparable operating result was EUR -13 million (104). *Result before taxes was EUR -26 million (119). Comparable result before taxes was EUR -27 million (98). *Comparable return on capital employed was -0.3% (5.9). *Net cash flow from operations was EUR -114 million (-19).

Metsä Group, which Metsä Board is part of, has today published an updated Green Finance Framework. Metsä Group’s previous Green Finance Framework is from 2019. The Framework enables the continued issuance of green debt instruments in line with the latest market practices and further integrates Metsä Group's 2030 strategic sustainability targets into financing. Metsä Board's financing can be arranged under the Green Finance Framework. The Framework supports financing or refinancing of environmentally sustainable investments that contribute to Metsä Board's key environmental targets in minimizing impact on climate and nature. Metsä Group’s Green Finance Framework has received an updated independent second party opinion from Sustainalytics, verifying the alignment with Green Loan Principles 2023 and Green Bond Principles 2023 and considering the eligible green assets and expenditures as credible and impactful.

Helen Mets, President and CEO, comments on second quarter 2024: Ahlstrom delivered another strong performance in Q2. Our profitability improved once again, while cash flow remains solid. Obsessed with our customers and the markets we serve; we launched several innovative new products − including fluorochemical-free filtration and paper-based pet food materials − to meet the growing need for safe and sustainable solutions. We also refined our strategy and streamlined our organization to accelerate our growth transformation. In addition, our Q2 pulse survey showed an increase in employee engagement. The latest engagement score places Ahlstrom close to the level of the top 10% of companies in the manufacturing industry. I am proud of the progress that we continue to deliver. During the second quarter, market activity continued to strengthen. Adjusted for Stenay divestiture deliveries increased compared to both the previous quarter and the previous year. Comparable EBITDA also grew, supported by an increasingly strong margin on variable cost per ton. This improvement can be attributed largely to our transformation initiatives, including disciplined price management and cost efficiency measures. Overall, cash flow remained solid, supported by the higher profitability, efficient working capital management, and sustainable lower capital expenditure.

The Company reported an operating loss of $5.6 million for the second quarter of 2024, compared to an operating loss of $15.7 million for the first quarter of 2024. These results largely reflected an uplift in global pulp pricing, primarily in response to global pulp supply disruptions, and the correlated improvement in the Company’s average Northern Bleached Softwood Kraft (“NBSK”) pulp sales unit realizations. These factors were offset in part, however, by a decline in the Company’s pulp production and shipments quarter-over-quarter, driven by extended downtime at its Intercontinental NBSK pulp mill (“Intercon”) to address unforeseen recovery boiler repairs identified during the scheduled maintenance in May. In May 2024, the Company announced the decision to indefinitely curtail one production line at its Northwood NBSK pulp mill (“Northwood”) as a result of the continual decline in the availability of economic fibre in the northern British Columbia (“BC”) region.