Sappi Europe to increase prices for all Sublimation & Inkjet grades by 8-15%

Verso Corporation introduced a new direct mail promotion, Vote for Verso Papers, to create awareness of its extensive 7 & 9 pt. sheetfed, digital, web and inkjet printing papers amongst those designing and printing direct mail for political campaigns. The promotion was printed on a sheetfed printing press on Verso's Anthem Plus® Gloss, 7 pt. cover. "Direct mail lets you reach the right voters with the right message," said Senior Vice President of Sales and Marketing Aaron Haas. "In fact, mail works well for campaigns looking to reach specific audiences on topics and issues that are just not possible with mass communication, while connecting them to online content that provides more information on a candidate's views."

The persistent global economic downturn is proving to be much tougher than anticipated with depressed markets, geopolitical instability and weak economic growth combining to put significant pressure on Sappi, particularly in Europe. In response we announced on 10 October 2023 the start of a consultation process on the possible closure of Sappi Lanaken Mill. We have completed this process and agreed on the social plan for the employees. Production of paper ended in December 2023. The closure of the site should be completed during the second calendar quarter of 2024. Details regarding the financial impact once all closure elements are taken into account will be provided during the first quarter financial results announcement.

Label and Graphic Materials *Reported sales increased 12% to $1.5 billion. Sales were up 20% ex. currency and 20% on an organic basis.*Reported operating margin increased 60 basis points to 14.3%. *Inflation continues to be significant in the company’s materials businesses, with it now anticipating more than 20% inflation in 2022 compared to prior year. Retail Branding and Information Solutions *Reported sales increased 17% to $623 million. Sales were up 22% ex. currency and 7% on an organic basis. *Reported operating margin increased 120 basis points to 12.2%. Industrial and Healthcare Materials *Reported sales decreased 2% to $192 million, up 5% on an organic basis. *Reported operating margin increased 100 basis points to 10.6%.