Irving to Increase SC Prices 7/1/18

In an effort to manage our extensive paper manufacturing system in the most efficient and responsive way, Verso is discontinuing production of our Focus® grade as of July 31, 2018. Our current Focus® inventory will be available for sale until it is extinguished. Our Influence® offering will continue to be Verso’s flagship brand for the No. 3 coated freesheet web market. The elimination of the Focus® grade allows for expanded production of Influence® Gloss, Soft-Gloss®, Matte, and Gravure. With this streamlined grade structure, Verso’s inventory replenishment of Influence® will also be enhanced. Click Read More below for additional information.

The Koehler group is investing in the European Circular Bioeconomy Fund (ECBF) with the aim of actively fostering the development of sustainable innovations and technologies. The ECBF is the first growth investment fund to be dedicated exclusively to projects in the field of the bioeconomy in Europe, including the accompanying circular economy. With a targeted fund size of EUR 250 million, the ECBF is set to become an important international financial instrument and to contribute to making Europe climate-neutral by 2050. The circular economy conserves natural resources, and is one of the prerequisites for reaching the EU’s climate objectives in order to become climate-neutral by 2050. The Koehler Group is currently working on a range of innovations with a focus on circular economy concepts. “When developing innovations, we not only make use of internal expertise, but also rely on collaborations and start-ups. Our involvement in the ECBF will hopefully help to ensure that targeted funding is provided for promising technological developments,” Dr. Karrer continues. This not only pertains to technologies for Koehler Paper, but also to a range of other activities and business models within the Koehler Group.

Mativ Holdings, Inc. announced that it has received a binding offer from Evergreen Hill Enterprise, Pte. Ltd., to acquire Mativ’s Engineered Papers business, part of Mativ’s Fiber Based Solutions reporting segment, for $620 million. Subject to customary closing date adjustments, Mativ expects to receive net proceeds (net of taxes and other items) of approximately $575 million in the proposed transaction, which would be primarily used for debt paydown. Julie Schertell, CEO of Mativ, commented, “The proposed sale of Engineered Papers is a key milestone in the transformation of Mativ and aligns with our strategy to focus our efforts, accelerate growth, and drive value for our shareholders. This pivotal action positions our portfolio for faster growth and focuses our resources on categories with the most promising revenue and margin expansion opportunities. While a solid business, EP’s concentration in the tobacco industry is not aligned with Mativ’s long-term ambition and presents a more attractive value proposition under new strategic ownership. Our talented and dedicated employees will continue to deliver outstanding products and service to EP’s long-standing customer base, and we are confident in a smooth transition.”