Solenis to Increase Prices on various Product Lines across the Asia Pacific region

Clearwater Paper Corporation announced a key divisional executive appointment. Joanne P. Shufelt is named senior vice president and general manager of the consumer products division, effective immediately. Ms. Shufelt succeeds Arsen Kitch, who was named president and chief executive officer of the company in April 2020. Ms. Shufelt joined Clearwater Paper in 2012 as vice president of sales and marketing for consumer products and has since grown in leadership responsibilities while in this role. Previously, she held sales leadership positions at Duro Standard Products, a private packaging company, and AbitibiBowater Inc., now Resolute, Inc., a pulp, paper, and tissue company.

Total European shipments of graphic papers in April 2021 were UP 13.9% vs. April 2020 and are down 8.0% year-to-date. Total European shipments of newsprint in April 2021 were UP 1.2% vs. April 2020 and are down 13.6% year-to-date. Total European shipments of sc-magazine in April 2021 were UP 21.4% vs. April 2020 and are down 6.8% year-to-date. Total European shipments of coated mechanical reels in April 2021 were UP 10.3% vs. April 2020 and are down 11.9% year-to-date. Total European shipments of uncoated mechanical (improved & others) in April 2021 were UP 16.9% vs. April 2020 and are down 1.0% year-to-date. Total European shipments of coated woodfree in April 2021 were UP 19.0% vs. April 2020 and are down 10.4% year-to-date. Total European shipments of uncoated woodfree in April 2021 were UP 21.5% vs. April 2020 and are down 1.5% year-to-date.

As a result of Russian aggression against Ukraine, the geopolitical situation in Europe has permanently changed. This has wide-reaching human, political and economic implications in Europe and the situation is evolving rapidly. Our primary concern are the people suffering from the war. UPM is providing support to its employees in the affected areas. We have also started providing humanitarian and material support to Ukraine this week. UPM will cease its deliveries to Russia for the time being. UPM businesses will keep the Russian customers and suppliers informed of the situation. While the forest industry is not directly targeted by the international sanctions at the moment, sanctions against the financial sector may impact UPM’s or its customers’ businesses and transactions in Russia. The full impact of the current and possible new sanctions and counter-sanctions will be known only as the situation evolves. UPM monitors the situation closely and makes decisions accordingly. UPM has employees, customers and suppliers in both countries but UPM’s exposure to Russian and Ukranian markets is limited. UPM Raflatac has a distribution terminal in the Kyiv region with 13 employees. The terminal operations have been closed until further notice. In Russia, UPM employs 800 persons most of whom work at the Chudovo plywood mill. The operations are currently running as usual. UPM’s sales to Russia and Ukraine combined was approximately 2 % of UPM’s total sales in 2021. Assets in Russia are less than 1 % of the group total. In 2021, less than 10 % of UPM’s wood sourcing to Finland originated from Russia.