Metsä Group invests in startup FineCell that produces pulp-based materials for beauty, healthcare, and paint products

Conciliator Leo Suomaa has submitted a proposal for UPM Biofuels in the collective labour negotiations with the Paperworkers’ Union. The conciliator has asked the parties to state their position on the proposal by 14 April 2022 at 10:00 EEST, which is also the deadline for the settlement proposals for UPM Pulp, UPM Specialty Papers and UPM Raflatac, given earlier by the conciliator. The conciliation for UPM Communication Papers was interrupted last weekend. "Settlement proposals have now been given to four out of five UPM businesses aiming at collective labour agreements. More than half of UPM’s employees affiliated with the Paperworkers’ Union are now covered by settlement proposals", says Jyrki Hollmén, Vice President, Labour Markets at UPM.

Tronox Holdings plc, the world’s leading integrated manufacturer of titanium dioxide pigment, announced that its Board of Directors had reorganized its committee structure to enhance the Board’s oversight over environment, sustainability and governance (“ESG”). Under the new structure, the Governance Committee will become the Governance and Sustainability Committee with a restated committee charter that will require management to regularly report on its progress on key ESG initiatives. The enhanced Board oversight comes on top of other significant ESG-related improvements made by Tronox, including the announcement in its most recent Sustainability Report of a detailed plan to align with a global warming scenario below 2° C and achieve net zero GHG emissions by 2050; inclusion of carbon emission reduction targets in its executive compensation programs; and a commitment to be fully compliant with applicable TCFD and SASB disclosure standards when it releases its 2021 sustainability report.

On December 20, 2017, PaperWorks Industries, Inc. and certain of its affiliates (collectively, the "Company") and five (5) holders of the Company's 9.500% Senior Secured Notes due 2019 (the "Notes"), holding approximately 87% of the outstanding Notes (the "Ad Hoc Group"), entered into a restructuring support agreement (the "RSA") regarding a comprehensive financial restructuring of the Company's debt and equity structure. Among other things, the proposed restructuring will reduce the Company's long term debt by approximately $275 million, which represents approximately 70% of the Company's funded indebtedness, through a repayment of the Company's existing ABL credit facility and an exchange of the Notes for new debt and new common equity in the reorganized Company. Under the RSA, the Company's pro forma capital structure will consist of a $115 million post-restructuring financing facility, inclusive of $70 million of new capital back stopped by the Ad Hoc Group. Click Read More below for additional information.