Resolute Forest Products Announces Newsprint Price Increase

Lecta has appointed Alain Gaudré as Lecta CFO. Starting on October 26th, he will be reporting to Eduardo Querol, Lecta CEO. Alain Gaudré will also be appointed as an additional member to the Board of Directors of Lecta Ltd. Alain Gaudré has been working as CFO across different industries, including the automotive and packaging industries, and is experienced within both the international and industrial environments.

Sappi Limited wishes to congratulate Mr Valli Moosa for his appointment by President Cyril Ramaphosa as deputy-chair and member of the inaugural Presidential Climate Change Coordinating Commission for South Africa. The Commission is chaired by the President. The mandate of the commission is to advise on and facilitate a common understanding of a just transition towards a low-carbon, inclusive, climate change resilient economy and society, including matters of adaptation, mitigation as well as means of implementation. The commission comprises representatives from government departments and state entities, business organisations, labour, academia, civil society, research institutions and traditional leadership. Mr Moosa is the lead independent director of the Sappi Limited Board and serves as chair of the Social, Ethics, Transformation and Sustainability Committee of the Board.

Statement by the CEO: Our production remained relatively stable in the third quarter, but rising raw material costs continued to negatively impact our earnings. Although the chemical pulp market experienced a slight slowdown, our customers continue to show interest in expanding volumes in our chosen niches. All three major investment projects at our mills are starting up this fall. As before, safety, efficiency, and high availability at our mills are of the utmost importance to ensure that our employees feel safe in their workplace and can achieve optimal results despite external challenges. Total production for the group increased by 2 percent compared with the same quarter last year. EBIT fell by 9 MSEK to 40 MSEK, mainly due to higher wood costs, which increased by about 40 MSEK. Gradually rising competition for pulp wood is driving prices upward. Meanwhile, our own supply of wood and wood chips remains strong, largely due to our long-term efforts to foster close relationships with our suppliers, which are mainly sawmills and timber companies.