NAUTILUS® ProCycle: Mondi expands its premium recycled portfolio

Stora Enso has signed an agreement to divest its paper production site in Hylte, Sweden and all its related assets to Sweden Timber, a Sweden-based sawmill and planing mill company. The enterprise value is approximately EUR 18 million. The completion of the transaction is expected in the first half of 2023. Concerning the Anjala paper site in Finland, Stora Enso has decided to discontinue the divestment process. The Hylte site transaction, along with the discontinuation of the Anjala divestment, concludes Stora Enso’s plan announced in March 2022 to divest four of Stora Enso’s five paper production sites. In line with its strategy, Stora Enso’s focus is on long-term growth for its renewable products in packaging, building solutions and biomaterials innovations. The retained Anjala and Langerbrugge sites will continue paper production and serving their respective customers. The agreement to divest the Hylte paper site to Sweden Timber has no immediate impact on production nor customer deliveries.

A collaborative effort between Sappi, MaBe and Kegelmann Technik GmbH from Rodgau-Jügesheim has culminated in the development of a biobased alternative for an injection moulding birdfeed-adapter. This development used the expertise of all partners. MaBe a German based company focused on upcycling and sustainability, sells lanterns made from recycled soda bottles. With recent innovation and adapters, these lanterns could now be used for bird-feeding devices. Partnering with Kegelmann Technik GmbH from Rodgau-Jügesheim, experts in the field of material composite formulations, these adapters were produced efficiently from more sustainable material. Instead of regular plastic, a natural fibre composite material was proposed. Sappi Symbio provided that alternative being a highly resistant, biocomposite cellulose fibre derived from responsibly managed renewable forests. This partnership has reflected the need for developing mutually beneficial, value adding products that could be recycled. This places a shared responsibility to move toward a sustainable future and recognise it is work that cannot be done alone.

Fourth Quarter Highlights *Consolidated revenues of $206.9 million were 8 percent higher than the third quarter, but down 3 percent compared to the prior year. The sequential quarterly increase was due to a continued recovery in both segments with a pronounced rebound in Technical Products. *Technical Products revenues of $137.1 million were up 11 percent from the prior year, with record fourth quarter adjusted operating income of $18.0 million driven by record sales in the filtration business. *Consolidated operating income of $14.9 million compared with $22.1 million in the prior year. *Available liquidity of $176 million remained strong, with cash generated from operations of $13.0 million. *Quarterly cash dividends of $0.47 per share increased 4 percent compared to $0.45 per share in the prior year. Full Year Highlights *Revenues of $792.6 million decreased 16 percent compared to 2019, as a result of lower volumes due to the COVID-19 pandemic. *A loss per diluted common share in 2020 of ($0.96) compared to earnings of $3.26 per share in 2019. *In April, the Company published its annual Corporate Sustainability Report, highlighting initiatives and progress in addressing Environmental, Social and Governance matters. *In July, the Company successfully refinanced its Senior Notes and entered into a $200 million Term B Loan due in 2027. *The Company maintained strong liquidity throughout 2020 with careful management of working capital and spending, and ended the year with cash and equivalents of $37 million and no borrowings against its $175 million revolving credit facility.