NORPAC Announces Price Increase on Orca Offset

Q3 2023 Highlights *Sales of $1,198 million (compared with $1,168 million in Q2 2023 and $1,174 million in Q3 2022); *Operating income of $80 million (compared with $64 million in Q2 2023 and $25 million in Q3 2022); *Net earnings per common share of $0.34 (compared with net earnings per common share of $0.22 in Q2 2023 and a net loss per common share of ($0.02) in Q3 2022); *Net debt1 of $2,088 million as of September 30, 2023 (compared with $2,076 million as of June 30, 2023).

Effective with all new and existing orders with confirmed delivery dates of October 1, 2017 or later, Verso Corporation is increasing the transaction price of all Uncoated Freesheet Grades by as much as 6%. This includes, but, is not limited to: Ideal® Offset; Ideal® Reply Card. The increase applies to all basis weights, bulks, finishes and related private label grades. Should you have any questions, please contact your Midland Paper sales professional.

UPM continues to aim for business-specific collective bargaining with the Paperworkers’ Union but has also begun preparations for arranging working conditions temporarily without a collective labour agreement until agreements with the union are signed. During this week UPM communicates the temporary terms of work to employees of businesses where the contractual party is the Paperworkers’ Union. The current collective agreements between the Paperworkers’ Union and The Finnish Forest Industries Federation will end on 31 December 2021. After termination, the current agreement has no binding effect as the parties of the agreement change. The time for negotiation is running out, so UPM must prepare for a situation where no agreement is in place. “To ensure business continuity and payroll, we will prepare to arrange working conditions after the turn of the year according to labour law, UPM practices and personal employment contracts. With business-specific collective bargaining, we can offer better terms for everyone than without an agreement. Entering the negotiations with the Paperworkers’ Union is still our goal”, says Executive Vice President Riitta Savonlahti of UPM Human Resources.