Resolute Forest Products Inc. announced that after a 39-year distinguished career with Resolute, Yves Laflamme will be stepping down, and retiring, as of March 1, 2021. The board of directors has unanimously selected and appointed Remi G. Lalonde as the company's next president and chief executive officer, effective on the same date. Mr. Lalonde, 44, currently serves as senior vice president and chief financial officer. Upon becoming president and CEO, Mr. Lalonde will be appointed to Resolute's board of directors. The announcement today coincides with Resolute's third quarter 2020 results. "The Resolute board of directors enthusiastically supports Remi Lalonde's selection as the company's next president and CEO. He has an outstanding track record of success as well as strength of character and exemplary personal integrity. Remi's superior leadership skills demonstrated on a range of strategic initiatives have consistently impressed the board," stated Bradley P. Martin, chairman of the board of directors. "Remi has very good relationships with our stakeholders, sharp analytical skills, impressive credentials, and a strong business drive. We are confident he will guide the company through its ongoing strategic transformation, delivering improved shareholder value. Remi is the right person at the right time for Resolute."

*Q3 GAAP net income of $57 million / $0.66 per diluted share *Adjusted EBITDA of $140 million *Net debt down to $541 million / liquidity strengthened to $477 million at quarter-end *$38 million YTD EBITDA contribution from our recently acquired U.S. sawmills *Remi G. Lalonde to succeed Yves Laflamme as president and CEO as of March 1

KPLP Q3 2020 Business and Financial Highlights • Revenue was $369.1 million in Q3 2020 compared to $344.0 million in Q3 2019 excluding the divested Mexico business in 2019, an increase of $25.1 million or 7.3%. • Adjusted EBITDA was $46.2 million in Q3 2020 compared to $44.0 million in Q3 2019, an increase of 5.1%. • TAD Sherbrooke site near completion and remains on time and on budget.

Third Quarter 2020 Highlights: *Third quarter income from continuing operations was $29 million, $43 million better than comparable quarter in 2019 *Third quarter Adjusted EBITDA of $55 million, up $19 million from comparable quarter in 2019 primarily driven by higher lumber prices, improved reliability in High Purity Cellulose operations and lower costs *Generated $34 million of Free Cash Flow through the third quarter driven by reduced capital expenditures and improved working capital *Improved liquidity of $196 million, excluding a $33 million cash tax refund expected in fourth quarter plus an additional $22 million expected over the next twelve months

Financial summary for the quarter and full year • EBITDA excluding special items o For the quarter US$82 million (Q4 FY19 US$185 million) o For the year US$378 million (FY19 US$687 million) • Loss for the period *For the quarter US$88 million (Q4 FY19 profit of US$50 million) *For the year US$135 million (FY19 profit of US$211 million) • Cash generation for the quarter of US$88 million (Q4 FY19 US$173 million) • Net debt US$1,957 million (FY19 US$1,501 million)

Notable items in the fourth quarter of fiscal 2020 include: *Net sales of $4.5 billion increased sequentially by 5.6% and decreased by 3.9% compared to the prior year quarter *Packaging volumes increased sequentially 6.9% and 2.4% compared to the prior year quarter *Consumer Packaging reporting unit recorded a non-cash goodwill impairment of $1.3 billion, or $5.06 per diluted share, driven by expected lower volumes and cash flows related to certain external SBS end markets including commercial print, tobacco and plate and cup stock *Loss of $4.45 per diluted share and adjusted earnings per diluted share of $0.73 compared sequentially to $0.69 of earnings per diluted share and $0.76 of adjusted earnings per diluted share *Generated net cash provided by operating activities of $732 million and Adjusted Free Cash Flow of $631 million

ANDRITZ will supply a new 7-effect evaporation plant on EPC basis with a capacity of 390 t/h that will concentrate kraft black liquor to a final dry solids content of 75%. The plant will be the largest in India and have the capability to improve the quality of condensate from the existing mill so that it can be re-used effectively in the mill and also to reduce water consumption.

For the third quarter of 2020, Clearwater Paper reported net sales of $457 million, a 3% increase compared to net sales of $445 million for the third quarter of 2019. Net income for the third quarter of 2020 was $21 million, or $1.28 per diluted share, compared to net loss for the third quarter of 2019 of $11 million, or $0.66 per diluted share. For the first nine months of 2020, Clearwater Paper reported net sales of $1.4 billion, a 7% increase compared to net sales of $1.3 billion for the first nine months of 2019. Net income for the first nine months of 2020 was $55 million, or $3.27 per diluted share, compared to net loss for the first nine months of 2019 of $8 million, or $0.46 per diluted share.

Forest Products Association of Canada (FPAC) appeared before the House of Commons Standing Committee on Natural Resources to speak with Members of Parliament about how government can work with forest sector workers and communities to advance economic recovery and help grow a lower carbon economy for tomorrow. FPAC’s remarks outlined several potential solutions to stimulate the economy, including advancing over 140 shovel ready projects worth over $1.5 billion that can lower Canada’s carbon footprint, increase competitiveness on the global stage, and sustain and grow forestry jobs here at home. FPAC also shared several ideas to secure a sustainable working forest for workers, contractors, and communities, and to improve market access opportunities for Canadian wood-based products and bio-products with customers in Canada and around the world.

WestRock Company announced that Jim Porter, president, Business Development & Latin America, has decided to retire, effective December 31, 2020. Following his retirement, Jim will continue to contribute to WestRock by serving as one of its representatives on the board of managers of Gondi, S. de R.L. de C.V., the Company’s Grupo Gondi joint venture, and an advisor to the Company. Jim has had a remarkable 46-year career. After earning his degree in forest management from the University of Missouri, he started his career with Menasha. In 1993, Jim joined Southern Container and was president and chief operating officer when WestRock acquired Southern Container in 2008. He has played an instrumental leadership role in the development of the company’s corrugated packaging business and its growth in Latin America, including the company’s operations in Brazil and joint venture with Grupo Gondi in Mexico. Jim received the RISI Lifetime Achievement Award in 2018.

Third Quarter Highlights *Net sales of $190.7 million increased 18 percent versus the second quarter with strong rebounds in each segment. *Filtration revenues increased 9 percent versus the prior year and contributed to a $3 million year-on-year increase in Technical Products operating income. *Consolidated operating income of $13.9 million compared with $19.0 million in the prior year. Excluding adjusting items of $2.0 million in 2020 and $2.5 million in 2019, operating income increased $15.4 million versus the second quarter, but declined from $21.5 million in 2019 to $15.9 million in 2020. *Cash generated from operations of $36.8 million increased from $33.4 million in the prior year as a result of actions in 2020 to carefully manage working capital and reduce spending. *Liquidity of $182 million as of September 30, 2020 increased from $159 million as of June 30, 2020.

Sappi Dissolving Pulp has partnered with Birla Cellulose, one of the leading viscose manufacturers in the textile value chain, to provide a forest-to-garment traceability solution for brand owners. Through this collaborative partnership, Sappi Verve - the world market leader in dissolving pulp - continues to strengthen its sustainability credentials within the textile industry. Providing a brand-owner traceability solution has been made possible with the use of Birla’s pioneering ‘Green Track’ blockchain technology, coupled with Sappi’s comprehensive database on wood origin for its dissolving pulp operations in South Africa and the USA. According to Krelyne Andrew, Sustainability General Manager for Sappi Verve, Sappi is “committed to delivering practical innovations, building trust and creating shared value in our supply chain - working closely with our partners to promote and shape the sustainability of the Man-Made Cellulosic Fibre (MMCF) sector towards a net positive vision.”

International technology Group ANDRITZ has received an order from Guangxi Sun Paper to supply two tissue machines for its new mill in Beihai City, Guangxi Province, China. Start-up is planned for 2021. The ANDRITZ tissue machines are of the type PrimeLineTM W 2000, with a design speed of 2,000 m/min and a working width of 5.65 m. They are equipped with a large suction press roll, an 18 ft. PrimeDry Steel Yankee with head insulation, and a re-evaporation system, thus enabling energy savings. The scope of supply also includes FibreSolve FSV pulpers, the paper machine approach flow systems, broke handling and fiber recovery, and automation systems (QCS, DCS).

The decrease in consumption caused by the Covid-19 pandemic has triggered strong pressure on prices. In combination with cost increases in paper production and transport this has led to unsustainable profitability levels, especially felt in our overseas markets. Sappi has therefore been forced to review its pricing per market and product segment, adjusting them accordingly. The increases will be applied as of shipments from January 2021 at the latest and will vary between 5 and 8%.

• Pulp sales of 2,527 thousand tons (stable vs. 3Q19). • Paper sales of 319 thousand tons (+2% vs. 3Q19). • Adjusted EBITDA1 and Operating cash generation² of: R$3.8 billion and R$2.9 billion, respectively. • Adjusted EBITDA1 /ton3 from pulp of R$1,339/ton (+56% vs. 3Q19). • Adjusted EBITDA1 /ton4 of paper of R$1,236/ton (+1% vs. 3Q19). • Average net pulp price – export market: US$458/t (-13% vs. 3Q19). • Average net paper price5 of R$4,081/ton (+1% vs. 3Q19). • Pulp cash cost ex-downtime of R$600/ton (-8% vs. 3Q19). • Capture of operating synergies in line with planning. • Recovery of ICMS credits in Espírito Santo in the gross amount of R$146 million.

To ensure a viable, profitable future for the Rumford Division, ND Paper will be transforming the mill to increase its product flexibility and shift further into packaging grades. Notable changes include: • Commissioning of an unbleached recycled pulp line to provide fiber flexibility to the R12 and R15 paper machines • Conversion of its R15 paper machine from P&W papers into lightweight, high strength kraft linerboard products • Expansion of R12 paper machine capability to include unbleached recycled bag and converting papers, in addition to its current offering of bleached and unbleached papers • Continued operation of the R9 pulp dryer, including expansion into unbleached softwood kraft market pulp • Permanent curtailment of mechanical pulping operations and R15 coating and supercalender assets

In the third quarter of 2020, net income was $7.5 million (or $0.11 per share) compared to $1.2 million (or $0.02 per share) in the third quarter of 2019 and a net loss of $8.4 million (or $0.13 per share) in the second quarter of 2020. In the first nine months of 2020, Operating EBITDA decreased by 41% to $143.1 million from $244.6 million in the same period of 2019. In the first nine months of 2020, net loss was $4.3 million compared to net income of $63.1 million in the same period of 2019.

Monadnock Paper Mills, Inc. is pleased to announce the appointment of Dr. Rajan Iyer as its new Vice President of Research & Development and Technical Services. Dr. Iyer will oversee the company’s new product development efforts, guiding Monadnock’s portfolio development of award-winning and sustainably-advantaged fine printing, packaging, and technical papers. He replaces Paul Ciccone who has announced his retirement. Paul (Mr. Ciccone), a 41-year Monadnock veteran, will remain with the company for an undetermined period of time to ensure a smooth transition.

*Third quarter net earnings attributable to International Paper of $204 million, compared with $266 million in the second quarter of 2020 and $344 million in the third quarter of 2019. *Third quarter adjusted operating earnings* (non-GAAP) of $280 million compared with $305 million in the second quarter of 2020 and $431 million in the third quarter of 2019. *Third quarter cash provided by operations of $735 million and year-to-date of $2.3 billion compared with $2.7 billion year-to-date in the same period of 2019. *Third quarter debt reduction of $760 million, bringing year-to-date 2020 to $1.1 billion.

The fourth sheeting line at the UPM Kymi paper mill started full production at the end of October, strengthening UPM’s position on the market for graphic fine paper sheets. The new sheeting line, comprised of a folio sheeter, conveyors and a packaging line further expands the paper production area of the UPM Kymi integrated mill site. The new line was built in a space previously used as a warehouse, specifically converted for this purpose. The project was safely and successfully completed despite restrictions of Covid-19. Start-up took place on 24 September and performance tests have been conducted throughout October. The new line will produce coated and uncoated graphic fine paper sheets.

JANUARY–SEPTEMBER 2020 (1–9/2019) *Sales were EUR 3,698 million (4,183). *Operating result was EUR 279 million (342). Comparable operating result was EUR 274 million (418). *Result before taxes was EUR 242 million (298). The comparable result before taxes was EUR 236 million (374). *Comparable return on capital employed was 7.0% (11.0). *Cash flow from operations was EUR 419 million (421). JULY–SEPTEMBER 2020 (7–9/2019) *Sales were EUR 1,245 million (1,374). *Operating result was EUR 116 million (110). Comparable operating result was EUR 115 million (110). *Result before taxes was EUR 103 million (96). The comparable result before taxes was EUR 102 million (96). *Comparable return on capital employed was 8.8% (8.7). *Cash flow from operations was EUR 179 million (239).

Domtar Corporation announced it has signed an agreement with Voith to provide equipment and technical services to convert the paper machine at its Kingsport, Tennessee, mill to produce recycled containerboard including high-performance lightweight packaging grades, as well as industry standard grades. In addition to being a full-line supplier to the paper industry, Voith is also recognized as a leader in the containerboard machinery business. The company will play an important part in Domtar's entry into the containerboard market by helping build one of the most modern recycled containerboard machines in the world, able to set industry benchmarks in recycled containerboard strength and convertibility.

Lecta has appointed Alain Gaudré as Lecta CFO. Starting on October 26th, he will be reporting to Eduardo Querol, Lecta CEO. Alain Gaudré will also be appointed as an additional member to the Board of Directors of Lecta Ltd. Alain Gaudré has been working as CFO across different industries, including the automotive and packaging industries, and is experienced within both the international and industrial environments.

Stora Enso has appointed Tobias Bäärnman, Chief Strategy and Innovation Officer, as a member of the Group Leadership Team. He joined Stora Enso in 2017, first as SVP Controlling, Strategy and IT for Consumer Board division. Since December 2019, he has worked as Chief Strategy and Innovation Officer. Before joining Stora Enso, he worked as Finance Director at Iggesund Paperboard and has earlier held various positions at Statoil and Procter and Gamble. He has a master’s degree in finance. Stora Enso has also appointed Teemu Salmi, CIO and Head of IT & Digitalisation, as a member of the Group Leadership Team. He joined Stora Enso in 2017. Previously, he worked at Ericsson in various executive positions, most recently as SVP and Head of business unit IT & Cloud in Middle East & Africa. He has a bachelor’s degree in computer science.

Q3/2020 compared with Q3/2019 • Net sales decreased by 8.0% to EUR 654.5 million (711.3), mainly due an adverse currency effect and lower average selling prices • Comparable EBITDA decreased to EUR 78.9 million (83.6), representing 12.1% (11.7) of net sales, impacted by scheduled maintenance shutdowns • Operating result of EUR 32.9 million (34.3) • Net result EUR 15.5 million (12.0). Q1-Q3/2020 compared with Q1-Q3/2019 • Net sales decreased by 9.9% to EUR 1,994.1 million (2,214.1), mainly due to lower average selling prices and volumes as well as an adverse currency effect • Comparable EBITDA increased to EUR 244.7 million (242.4), representing 12.3% (10.9) of net sales, driven by lower variable costs, which more than offset lower selling prices and sales volumes • Operating result of EUR 132.5 million (87.2), including a capital gain of EUR 32.0 million from the sale of the fine art paper business • Net result EUR 71.2 million (30.9)

Ahlstrom-Munksjö strengthens long-term strategy development and deepens its innovation and sustainability focus by extending the Group Executive Management Team. Mikko Lankinen has been appointed Executive Vice President, Corporate Strategy and Development, and a member of the Group Executive Management Team as of October 28 2020. He reports to Hans Sohlström, President and CEO. Mikko is currently Chief Development Officer, Corporate Development. Robin Guillaud has been appointed Executive Vice President, Innovation, Sustainability and Communication, and a member of the Group Executive Management Team as of October 28 2020. He reports to Hans Sohlström, President and CEO. Robin is currently Vice President, Business Development, Filtration & Performance Solutions business area.

At Domtar, we are proud to be a part of the communities where we work, live and play. In many of these communities, the pulp and paper mill has influenced the development of the town and is often the area’s largest employer. Our Johnsonburg Mill is a great example of how a mill can shape a town. The Johnsonburg pulp and paper mill has been the backdrop and the backbone of this small Pennsylvania town since 1889. Boasting more than a century of partnership, the mill and the town have developed a symbiotic relationship. Click read more below for the rest of the story.

Q3 2020 highlights • Sales decreased by 19% to EUR 2,028 million (2,493 million in Q3 2019) due to lower deliveries of graphic papers and lower pulp and paper prices • Comparable EBIT was EUR 215 million, 10.6% of sales (342 million, 13.7%), down 37% year-over-year • Operating cash flow was EUR 365 million (500 million) • Closures of UPM Chapelle paper mill and UPM Jyväskylä plywood mill • Announced the closure of UPM Kaipola paper mill, plans for selling UPM Shotton paper mill and streamlining in several businesses and functions. Q1–Q3 2020 highlights • Sales decreased by 18% to EUR 6,392 million (7,791 million in Q1–Q3 2019) due to lower deliveries of graphic papers and lower pulp and paper prices • Comparable EBIT was EUR 697 million, 10.9% of sales (1,061 million, 13.6%), down 34% year-over-year • Operating cash flow was EUR 659 million (1,256 million) • Net debt was EUR 89 million (-2 million)• UPM's transformative pulp project in Uruguay and biochemicals project in Germany are well on track with the planned start-up timeline

Jeff Melucci, currently Senior Vice President, Business Development and General Counsel, has been named as Chief Transformation, Business Development and Legal Officer, adding responsibility for the company's transformation roadmap for further building its global organizational capabilities. This expanded role assumes the responsibilities of Achal Agarwal, who has announced his intent to retire at year end after 12 years with Kimberly-Clark and a nearly 40-year career. Melucci will continue to report to Mike Hsu, Kimberly-Clark Chairman and CEO. In addition, Gonzalo Uribe has been named as President of Kimberly-Clark's Latin American consumer business, and will also report to Hsu, with responsibility for the company's consumer operations across Latin America.

Companies in the pressure-sensitive labeling industry have announced a new global industry-wide consortium, CELAB: Creating the Circular Economy for Labeling. UPM Raflatac is acting as one of the key collaborators in CELAB to boost matrix and liner recycling in the pressure-sensitive labeling industry. The consortium aims to facilitate collaboration between companies from around the world and across the supply chain to drive progress on and promote solutions for matrix and release liner recycling. “Our RafCycle recycling service has been developed over the last 10 years and it gives label release liner waste a new life as release liner, face papers, magazine paper and composite material. By bringing our long experience to CELAB, we aim to drive the industry's shift towards the circular economy together with multiple players in the value chain. Furthermore, we aim to accelerate RafCycle development further by strengthening our service offering,” says Juha Virmavirta, Director, RafCycle solutions, UPM Raflatac.

Effective with all orders shipping on or after November 1, 2020, Verso Corporation is increasing the transaction price of all pulp products by $30.00 per metric tonne. This increase includes but is not limited to, Quinnesec® Hi-Maple BHK Pulp. Should you have any questions, please contact your Verso professional sales representative. Thank you for your continued support.

Accelerated by recent events, e-commerce sales continue to boom as today’s consumers purchase more of the products they use every day online — from the clothes they wear to the meals they eat. Unfortunately, this has increased concerns about unnecessary packaging waste and ever-greater levels of plastic pollution. Enter the paper freezer pack, which may one day replace plastic freezer packs for use in shipping refrigerated products. Domtar’s Catapult team recently revealed its paper freezer pack, an internally-developed potential solution to the issues posed by conventional cold chain offerings. Not only does the pack reduce plastic use, but it also capitalizes on mounting public interest in products made from sustainable wood fiber. The majority of this revolutionary paper freezer pack is made of forest-derived fiber, including paper, tissue and fluff pulp.

Total European shipments of graphic papers in August 2020 were down 24.5% vs. August 2019 and are down 20.6% year-to-date. Total European shipments of newsprint in August 2020 were down 25.0% vs. August 2019 and are down 18.3% year-to-date. Total European shipments of sc-magazine in August 2020 were down 21.3% vs. August 2019 and are down 20.1% year-to-date. Total European shipments of coated mechanical reels in August 2020 were down 32.2% vs. August 2019 and are down 28.1% year-to-date. Total European shipments of uncoated mechanical (improved & others) in August 2020 were down 13.4% vs. August 2019 and are down 9.8% year-to-date. Total European shipments of coated woodfree reels in August 2020 were down 33.1% vs. August 2019 and are down 26.8% year-to-date. Total European shipments of uncoated woodfree reels in August 2020 were down 15.7% vs. August 2019 and are down 15.8% year-to-date.

Kotkamills, a manufacturer of fully recyclable food service board, is currently exploring the possibility of establishing its own sales office in the North America. The launch of production in the still growing North American food packaging market is also being explored. “There is great interest in our products as alternatives to replace plastic also in North America, and by establishing a sales office we are pursuing growth in these huge markets. By operating close to the markets we can improve our customer service and, when needed, growth is supported by production built or acquired close to the markets. Starting our own production in North America is a vision, and the first steps in exploring it have already been taken,” says Kotkamills CEO Markku Hämäläinen.

Nine Dragons Paper Limited is pleased to announce the audited consolidated annual results of the Company and its subsidiaries for the twelve months ended 30 June 2020. * Record high sales volume; a year-on-year increase of 8.5% to approximately 15.3 million tonnes * Net profit1 was RMB 4.2 billion; a year-on-year increase of 7.5% * Gross profit margin of 17.6%, a year-on-year increase of 2.0 percentage points * Net profit margin of 8.1%; a year-on-year increase of 1.0 percentage point

Overview • Third quarter of 2020 reported operating income of $300 million, adjusted operating income of $347 million • Record-high adjusted lumber earnings of $387 million, driven by unprecedented surge in lumber prices and strong operational performance across all regions despite the impact of the coronavirus pandemic • Total net debt of $526 million at September 30, 2020, improvement of $331 million from prior quarter; available liquidity of $1.1 billion; net debt to capitalization of 18.6% at September 30, 2020 • Vida Group (“Vida”) completed acquisition of Bergs Timber Production AB (“Bergs”) sawmill assets • Cumulative cash deposits of $548 million on countervailing and anti-dumping duties at September 30, 2020

The Company reported an operating loss of $27.6 million for the third quarter of 2020, compared to an operating loss of $6.3 million reported for the second quarter of 2020. After adjusting for a $3.0 million recovery in its inventory write-down provision, the Company’s operating loss was $30.6 million for the third quarter of 2020, $32.5 million unfavourable compared to similarly adjusted results for the second quarter of 2020. The Company’s operating results for the third quarter of 2020 reflected weak global pulp market conditions as well as significant fibre-related and previously deferred scheduled maintenance downtime, stemming from the ongoing impact of the coronavirus (“COVID-19”) outbreak, combined with a 3 cent, or 4%, stronger Canadian dollar.

The American Forest & Paper Association (AF&PA) President and CEO Heidi Brock issued the following statement regarding the Environmental Protection Agency (EPA) New Source Review (NSR) project emissions accounting (PEA) rule, which was finalized today. “The EPA recognizes the need for sensible NSR accounting procedures that will provide a clear and concise approach to air permitting under the Clean Air Act. The PEA rule, by allowing increases and decreases in emissions to be counted together, will exclude minor projects from a burdensome and time-consuming permitting process. This NSR rule is part of a broader EPA effort to modernize an antiquated and complicated system and ensure the global competitiveness of American manufacturing. AF&PA commends the EPA’s efforts to advance regulatory process reforms, such as this, to support our industry’s ability to innovate, invest and create American manufacturing jobs.”

Iggesund Sawmill is being modernised to allow for an increase in production. Holmen is currently investing SEK 70 million in a new drying plant which will increase its drying capacity from 400 000 to 500 000 m3. The new drying plant is what is known as a tunnel dryer. It is much more energy efficient than the old kiln dryers which it will partly replace. The greater drying capacity will primarily be used for dried wood products for the joinery industry. In addition to investing in new dryers, the group had previously agreed to invest in land for timber storage and warehouse space.

Sales of $4.7 billion in the third quarter of 2020 increased 1 percent compared to the year-ago period. Organic sales increased 3 percent, while changes in foreign currency exchange rates reduced sales 2 percent. Volumes rose 2 percent and the combined impact of changes in net selling prices and product mix increased sales 1 percent. In North America, organic sales increased 8 percent in consumer products but fell 15 percent in K-C Professional. Outside North America, organic sales rose 2 percent in developing and emerging markets and 3 percent in developed markets. Third quarter operating profit was $666 million in 2020 and $915 million in 2019. Results in both periods include charges related to the 2018 Global Restructuring Program. Results in 2019 also include a gain on the sale of a manufacturing facility as part of the restructuring.

Norske Skog’s EBITDA in the third quarter of 2020 was NOK 73 million, a slight increase from NOK 52 million in the second quarter of 2020 when excluding the gain of NOK 86 million from the sale of the Tasmanian forest. Although, there are modest signs of demand improvement, the markets have not returned to pre-COVID-19 levels. Norske Skog Saugbrugs (Norway) will permanently cease production at one of their SC-machines (PM5/100 000 tonnes) during the fourth quarter. Operating earnings in the third quarter of 2020 were NOK -31 million compared to operating earnings of NOK -122 million in the second quarter of 2020, mainly driven by a modest sales volume increase. Net loss in the quarter was NOK 89 million compared to a net loss of NOK 59 million in the previous quarter.

Pelican Lake First Nation and Witchekan Lake First Nation and Paper Excellence Canada announced today the signing of a Letter of Intent that sets out the intentions of all parties to build a collaborative relationship with each other in Saskatchewan. “We now have agreements with all the industries around us,” said Chief Peter Bill of the Pelican Lake First Nation. Chief Anne Thomas of the Witchekan Lake First Nation added, “First and foremost in establishing a partnership is standing on common ground with a vision based on positive values. Touring the mill gave me an insight to possible opportunities.”

Third Quarter 2020 Results: Net sales were $1.73 billion, down 1.8%. Sales were down 1.3% ex. currency, and down 3.6% on an organic basis. Reported operating margin increased 100 basis points to 12.3%. Adjusted EBITDA margin increased 190 basis points to 16.1%, while adjusted operating margin increased 140 basis points to 13.1%. Reported net income was $1.79 per share, up 5%, and adjusted net income was $1.91 per share, up 15%, both of which were above the company’s expectations, reflecting a sales decline below the low end of its outlook range in July. Year-to-date free cash flow was $342 million, up 4.4% compared to the same period last year.

UPM Biocomposites and Finnish Mysoda have collaborated to create a range of sparkling water makers made almost entirely out of renewable materials. Traditionally, small kitchen appliances are made out of fossil-based plastics, so this innovation takes the sustainability of this type of product to a completely new level by substantially reducing the carbon footprint of the product. The raw material used for the Mysoda sparkling water makers is UPM Formi EcoAce biocomposite, which is made of wood fibres and renewable based biopolymer (on a mass balance basis), derived from UPM BioVerno naphtha. The materials originate from sustainable forestry and are produced from wood and pulp processing side streams and residues. Therefore, the raw material does not compete with food production and does not increase harvesting. Although composed of natural fibres, the UPM Formi EcoAce has similar material properties as fossil-based plastics and similar moulding technics can be used with it. The look and feel bears some similarities with wood as the wood fibres contained within create a natural finish for the end product.

UPM will establish a new labor markets team which will start its activities in the beginning of December. The background to the decision is the announcement of the Finnish Forest Industries Federation to discontinue the collective bargaining in the Finnish labor markets at the end of the ongoing agreement period. UPM aims to strengthen the company’s own capabilities in labor market matters and company specific bargaining. Jyrki Hollmén, LL.M., has been appointed Vice President, Labor Markets, as of 1 December 2020. He will report to Riitta Savonlahti, Executive Vice President, HR and will be a member of UPM HR Management Team. Jyrki’s current position is Director, Labor Markets in Finnish Forest Industries Federation. Mikko Lehtonen, LL.M., is appointed Legal Counsel, Labor Markets, as of 16 November 2020. He will report to Jyrki Hollmén. Mikko is currently working as a Manager, Collective Bargaining in Finnish Forest Industries Federation.

Highlights: *Operating profit for January-September was SEK 1 884 million (January-September 2019: 1 758). Profit was impacted positively by higher profit from Paperboard and Forest, but negatively by price decreases and production curtailments in Paper. *Compared with the second quarter, operating profit increased by SEK 172 million to SEK 714 million as a result of increased prices for wood products, decreased production curtailments in Paper and seasonally lower costs. *Profit after tax for January-September amounted to SEK 1 467 million (1 363), which corresponds to earnings per share of SEK 9.1 (8.1). *On 1 October Holmen completed the acquisition of Martinsons, one of Sweden's leading players in sawn and processed wood products.

Q3/2020 (compared with Q3/2019): *Sales decreased by 13.5% to EUR 2 079 (2 402) million, due to lower deliveries and prices. *Operational EBIT decreased to EUR 175 (245) million. The impact of lower sales was partly offset by continued cost management. *Operational EBIT margin was 8.4% (10.2%). *Operating profit (IFRS) was EUR 145 (170) million. *Operational ROCE was 6.7% (9.2%), below the strategic target of more than 13%. Q1–Q3/2020 (year-on-year): *Sales were EUR 6 400 (7 644) million, mainly as a result of the impact of the Covid-19 pandemic, and the Finnish union strikes during the first quarter. *Operational EBIT was EUR 532 (879) million.

Stora Enso has decided to start using a valuation method for its forest assets in the Nordics based on market transaction data and change the accounting policy from the fourth quarter of 2020 onwards. Preliminary estimations, based on transactions in those areas in which Stora Enso has forest land, indicate that the value of the Group’s forest assets, including leased land, will be between EUR 6.5 billion and EUR 7.0 billion, compared with the end of Q3/2020 book value of EUR 5.4 billion. The review of the fair value will be completed during the fourth quarter and will take into account also the latest transaction prices. Deferred tax liability will be recognised based on the difference between the forest assets’ book value and their value for tax purposes in the same manner as currently.

American Forest & Paper Association (AF&PA) President and CEO Heidi Brock issued the following statement recognizing the 60th anniversary of National Forest Products Week (October 18 – 24): “This week, during National Forest Products Week, we celebrate the undeniable value of the 950,000 people who work in the forest products industry – working safely to make essential products. “From tissue and paper towels, to packaging around the goods you ordered online, to the cups holding your coffee, paper and wood products contribute to our everyday lives. And, demand for these products encourages forest landowners to grow and replant trees, keeping forests as forests.”

According to the report, total printing-writing paper shipments decreased 21 percent in September compared to September 2019. U.S. purchases of total printing-writing papers decreased 20 percent in September compared to the same month last year. Total printing-writing paper inventory levels decreased seven percent when compared to August 2020. Uncoated free sheet (UFS) paper shipments decreased 19 percent compared to September 2019 while the inventory level decreased six percent compared to August 2020. UFS imports and exports both decreased compared to August 2019, down 18 percent and 40 percent respectively. U.S. purchases of coated free sheet (CFS) papers in September decreased 12 percent compared to last September while the inventory level decreased 10 percent compared to August 2020. CFS imports and exports both decreased compared to August 2019, down 36 percent and 27 percent respectively. Coated mechanical (CM) paper shipments decreased 31 percent compared to September 2019 while the inventory level increased two percent compared to August 2020. CM imports decreased 30 percent while exports increased five percent in August 2020. U.S. purchases of uncoated mechanical (UM) papers in September decreased 28 percent compared to last September while the inventory level decreased eight percent compared to August 2020. UM imports and exports both decreased compared to August 2019, down 15 percent and 44 percent respectively.

With around 4,000 women employed directly or indirectly by Sappi Forests nationwide– through its own personnel in its nurseries, and sub-contracted to its harvesting and silviculture contractors – the company is very aware of the crucial role that rural women play in the agricultural labour force. It is to these women that the United Nations have dedicated the International Day of Rural Women, celebrated on 15 October every year. Fittingly, the theme for this year is “Building rural women’s resilience in the wake of COVID-19” and highlights the fact that the specific struggles that rural women face in their daily lives were further aggravated by the pandemic. World Food Day is another significant UN commemorative day which follows immediately on 16 October and further ties in the crucial role that rural women play in combating top on the list of the UN’s Sustainable Development Goals (SDG 1 ‘No Poverty’ and SDG2 ‘Zero Hunger’).

Swedish road and infrastructure operator Svevia has decided to collaborate with Stora Enso in testing lignin in asphalt. Through this collaboration, Svevia aims to replace part of the oil-based binder with nature’s own binder – lignin, Lineo ™ by Stora Enso. The lignin containing asphalt is currently being tested out on Swedish roads. Svevia is carrying out road paving work on road 224 between the towns of Sandbrink and Gnesta on behalf of the Swedish Transport Administration. Of the total 15-kilometre stretch, Svevia has chosen to test Lineo™ on a couple of hundred meters, where lignin will replace bitumen. Lignin was chosen as it is a bio-based natural binder found in trees with the potential of reducing the negative climate impact of asphalt.

Employee consultations for UPM Communication Papers were concluded at the Jämsä River mills this week. The UPM Kaipola paper mill in Jämsä, Finland, will be closed permanently by mid-December. UPM’s second paper mill in Jämsä, UPM Jämsänkoski, will continue operations with one graphic paper machine and two specialty paper machines. The parties were not able to identify an economically viable solution for the future operation of UPM Kaipola. Consequently, Kaipola’s three paper machines will be permanently closed, affecting altogether 448 positions at the mill, of which 20 positions will be transferred to UPM Jämsänkoski’s Specialty Papers operations. Approximately 20 % of the redundancies will be retirements, with discussions pending. The closure will lead to an annual reduction of 720,000 tonnes of graphic paper capacity, thereof 450,000 tonnes of newsprint and 270,000 tonnes of coated mechanical paper. An after-care team will ensure safe conditions at the mill after the closing.

Average input costs were stable sequentially and cost control was strong across the business. Currency movements had a net negative impact on underlying EBITDA compared to the second quarter, driven by a weaker US dollar, impacting a number of the Group's globally traded products, coupled with a weaker Russian rouble and Turkish lira. Given prevailing exchange rates, we anticipate a further net negative currency impact in the fourth quarter. During the quarter, planned maintenance shuts with an estimated impact on underlying EBITDA of around €35 million (2019: €40 million) were carried out successfully. Based on prevailing market prices, we continue to estimate that the impact of planned mill maintenance shuts on underlying EBITDA for 2020 will be around €100 million (2019: €150 million), with the fourth quarter impact expected to be around €55 million (2019: €30 million). Our major capital investment projects are progressing according to plan. The €67 million capital investment project to convert a containerboard machine at Štětí (Czech Republic) to become fully dedicated to the production of speciality kraft paper for shopping bag applications is scheduled to be commissioned during the fourth quarter. This additional capacity (75,000 tonnes) further supports our retail customers in their efforts to replace unnecessary plastic as they transition to more sustainable packaging solutions that contribute to the circular economy.

Italian tissue manufacturer EuroVast fired up a new Modulo-Plus tissue machine supplied by Toscotec at its Cartiera della Basilica paper mill in Villa Basilica, Lucca, Italy. PM5 is running efficiently at the speed of 1,600 m/min and since its start-up in February, it has exceeded the project’s production targets with excellent results in energy consumption. The new line completely replaced the mill’s existing PM5, a suction breast roll machine. The sheet width is 2,770 mm and the production capacity is over 30,000 tpy. It is equipped with a single press TT BlindDrilledPressRoll, a TT SYD and gas-fired TT Hoods. PM5 produces toilet tissue, kitchen towels and napkins from 100% pre-dried virgin pulp. EuroVast also purchased a complete service package including dismantling operations, erection, training, commissioning, and start-up assistance.