Canfor Pulp Announces Leadership Transition

Sustana a manufacturer of premium, sustainable recycled fiber and paper products, announces the appointment of Emily Olson to Director and Sustainability Ambassador. In this new role, Emily will be an ambassador for driving Sustana Group’s sustainable products, strategy, and circular economy initiatives across Sustana Fiber and Rolland, advancing the group’s leadership in providing sustainable recycled products to the paper industry. This leadership position reflects Sustana’s continued commitment to drive sustainability within the paper and packaging sector. Emily’s strategic vision, using systemic-based strategies and the capability to provide solutions for corporate sustainability goals, regenerative initiatives, and circular economy, will bring together Sustana’s key offerings of sustainable recycled closed-loop solutions for consumers and brands.

Q1/2018 highlights (vs Q1/2017 proforma): • Net sales EUR 572.4 million (EUR 566.9 million), an increase of 1.0%. In constant currency growth was 5.9%, driven by higher selling prices. • Continued good demand across most markets • Comparable EBITDA EUR 66.7 million (EUR 79.4 million), representing 11.7% (14.0%) of net sales in an environment of significant raw material cost escalation • Net profit EUR 21.2 million (EUR 24.2 million).

The Board of the Paper Workers’ Union has confirmed the negotiated results of the collective labour agreements for the Finnish mills and biorefinery of UPM Pulp, UPM Communication Papers, UPM Specialty Papers, UPM Raflatac and UPM Biofuels. An agreement was reached earlier today in the last open negotiations at UPM Specialty Papers. The new collective labour agreements will have a two-year contract period and will enter into force immediately. The agreed wage increases in the collective agreements will take effect from 1 July 2024. "We are pleased that, after long and thorough negotiations, we have reached five agreements where we have jointly developed the content of the agreements to meet the needs of each business," says Riitta Savonlahti, Executive Vice President, HR at UPM.