Solenis to Expand Price Increase on Polyacrylamide Polymers and Retention Aids in EMEA

UPM Chudovo plywood mill in Russia is celebrating its important milestone - two million cubic meters of plywood production since the start of the mill in 1990. Over the last 27 years, high quality WISA birch plywood by UPM Chudovo has become well-known both by the European customers and at the Russian market. "I am really proud of the two millionth cubic meter. It is an important milestone in the history of our production site. Continuous development and modernization are mill's keys to success. It took us 18 years to make the first million cubic meters and ten years later we were able to double the volume," says Anatoly Zhukovets, UPM Chudovo General Director. Click Read More below for additional information.

After the release of the stock exchange notice of today at 17:21, the company has been informed that the board of Norske Skog AS has decided to support an extension of the consent solicitation deadline for the board's recapitalization proposal. However, due to practical matters, it was not possible to make the Norske Skog AS resolution within the deadline at 17:00 CET, and consequently, the offer period has expired. The discussions with the key stakeholder groups will continue in order to achieve a consensual recapitalization solution for the Norske Skog group during the next days even though the offer period has expired. If these discussions are successful, an updated recapitalization proposal will be launched.

Sales of $4.6 billion in the second quarter of 2020 increased slightly compared to the year-ago period. Changes in foreign currency exchange rates reduced sales approximately 4 percent, while organic sales increased 4 percent. Volumes increased 2 percent and changes in net selling prices and product mix each improved 1 percent. In North America, organic sales increased 12 percent in consumer products but fell 3 percent in K-C Professional. Outside North America, organic sales rose 3 percent in developed markets but fell 3 percent in developing and emerging markets, driven by Latin America. Second quarter operating profit was $925 million in 2020 and $670 million in 2019. Results in both periods include charges related to the 2018 Global Restructuring Program. Second quarter adjusted operating profit was $1,012 million in 2020 and $789 million in 2019. Results benefited from organic sales growth, $120 million of cost savings from the company's FORCE (Focused On Reducing Costs Everywhere) program and $55 million of cost savings from the 2018 Global Restructuring Program. Input costs decreased $80 million, driven by pulp, while other manufacturing costs rose year-on-year. Advertising spending increased and general and administrative costs were also higher compared to the prior year. Foreign currency translation effects reduced operating profit by $15 million and transaction effects also negatively impacted the comparison.