ANDRITZ to upgrade evaporation plant for Moorim P&P, South Korea

2020 highlights *Sales decreased by 16% to EUR 8,580 million (10,238 million in 2019) due to lower deliveries of graphic papers and lower pulp and paper prices *Comparable EBIT was EUR 948 million, 11.1% of sales (1,404 million, 13.7%), down 32% year-over-year *Operating cash flow was EUR 1,005 million (1,847 million) *Net debt was EUR 56 million (-453 million) *Cash funds and unused committed credit facilities totalled EUR 3.2 billion at the end of 2020 *The COVID-19 containment measures significantly decreased demand for graphic papers, while UPM Raflatac and UPM Specialty Papers achieved record earnings *UPM's transformative pulp project in Uruguay and biochemicals project in Germany are well on track with the planned start-up timeline *Closures of UPM Kaipola and UPM Chapelle paper mills and UPM Jyväskylä plywood mill, streamlining in several businesses and functions

Fortress Paper Ltd. announces that its wholly-owned subsidiary, Landqart AG, has received notices from one of its significant international customers cancelling that portion of purchase orders which were scheduled for production and delivery by the Landqart Mill in the fourth quarter of 2017 and in fiscal 2018. The cancelled purchase orders represent approximately 16% of the budgeted order book at the Landqart Mill for fiscal 2017 and 30% for fiscal 2018. Despite other suppliers experiencing similar cancellations, Landqart continues to have dialogue with the customer to potentially reinstate all or a portion of the cancelled orders over an extended period of time within fiscal 2018. There are no assurances that any reinstatement will be forthcoming. Management is seeking to fill the production void caused by the cancellations and is deploying various strategies, including: (a) pulling forward existing purchase orders, (b) seeking new orders from existing and new customers, and (c) requesting special one-time supplemental orders from existing customers for immediate production. Click Read More below for additional information.

International technology group ANDRITZ has successfully started up the tissue production line delivered to Xuong Giang Paper Mill, Vietnam, a subsidiary company of Bac Giang Import Export JSC. The PrimeLineCOMPACT S 1300 tissue machine has a design speed of 1,300 m/min and a paper width of 2.85 m, processing virgin pulp as raw material to produce high-quality facial and toilet tissue as well as napkins. It is equipped with a 12-ft. PrimeDry Steel Yankee – manufactured at the ANDRITZ Steel Yankee Business Center in Foshan, China – with a steam-heated hood to ensure highly efficient drying and substantial energy cost savings compared to operations with a cast-iron Yankee and gas-heated hood.