Glatfelter Announces Price Increase on Tag/Index Products in the US Market

2022 highlights • Sales increased by 19% to EUR 11,720 million (9,814 million in 2021) • Comparable EBIT increased by 42% to EUR 2,096 million (1,471 million), and was 17.9% (15.0%) of sales • Operating cash flow was EUR 508 million (1,250 million), impacted by cash outflows from energy hedges in highly exceptional energy markets • Net debt increased to EUR 2,374 million (647 million) and the net debt to EBITDA ratio was 0.94 (0.35). A significant part of the increase in net debt is temporary, due to the cash flow impacts of energy hedges and future energy generation • In April, UPM and the Paperworkers’ Union agreed on the first-ever business-specific collective labour agreements • In June, UPM announced the sale of the Steyrermühl site in Austria to secure competitiveness and adapt newsprint production to long-term market development • In September, UPM Raflatac completed the acquisition of AMC AG

Rayonier Advanced Materials Inc. and Tembec Inc. announced that they received clearance from the Competition Bureau of Canada, without condition, of the previously announced proposed statutory arrangement under Section 192 of the Canada Business Corporations Act involving the acquisition by Rayonier Advanced Materials of all of the outstanding shares of Tembec. In addition to clearance by the Competition Bureau, the Transaction already has received antitrust clearance from the Anti-Monopoly Bureau of the Ministry of Commerce of the People’s Republic of China, Germany’s Federal Cartel Office, and the United States Department of Justice and the Federal Trade Commission. As such, Rayonier Advanced Materials and Tembec have now received all required antitrust clearances. The Transaction has also been approved by Tembec’s shareholders and by the Québec Superior Court. Subject to obtaining other necessary approvals, as well as the satisfaction or waiver of other conditions to the Transaction, it is expected that the Transaction will be completed in the fourth quarter of 2017.

Pushing the boundaries in sports and print: Sappi’s Algro Design® Card forms basis for new 2018 photo calendar. “Move X-treme. Discover your possibilities” – This is the umbrella theme under which ACTEGA Terra, Koenig & Bauer and Sappi have continued their successful joint calendar project over the last few years. The new 2018 calendar, hot off the press, depicts athletes who push themselves to their limits, whether in speed skating, white water kayaking or motocross. Steely resolve and perfect preparation can lead to outstanding sporting success. The rewards: strong emotions, a great deal of public interest and the satisfaction of having accomplished something extraordinary. These are reactions similar to those experienced by three companies from the worlds of speciality papers, quality printing and overprint varnishes for high-quality finishing as they produce their annual calendar. Click Read More below for additional information.