Suzano – Second Quarter 2021 Results

Appvion, Inc. announced that the U.S. Bankruptcy Court for the District of Delaware approved the sale of substantially all of the Company's assets to a group of its lenders led by Franklin Advisers, Inc. The sale is expected to be completed by the end of May. The Purchaser submitted the previously announced stalking horse bid on February 8, 2018. Under the terms of the executed asset purchase agreement filed with the Bankruptcy Court, the total consideration is approximately $340 million plus the assumption of substantial liabilities, including many of the Company's contractual obligations. The transaction will substantially reduce Appvion's debt from approximately $585 million to less than $175 million and provide additional liquidity to fund the Company's operations. Kevin Gilligan, Chief Executive Officer of Appvion, said, "We are pleased to receive the Court's approval of the sale of our company to a group of our lenders who have been long-term supporters of Appvion. Their continued investment is a vote of confidence in the future of our business." Click Read More below for additional information.

Following on the heels of Tony Mollica’s appointment to CEO of Twin Rivers, the company continues to build on its play to win strategy with the announcement of six new, highly experienced cross-functional team members. The team is well-positioned to realize company-wide strategic objectives as it drives advancements in innovation and productivity, as well as operational, commercial, and customer service excellence. Mark Lukacs has joined the company as Chief Operating Officer. Stepping into the newly created role of Chief Commercial Officer is Jeffrey Hederick who will work closely with Mollica and other senior leaders to enhance commercial excellence capabilities that drive growth and customer satisfaction. Hederick will lean on the business and customer insight of seasoned team members Tony Rigelman, Vice President of Sales, and Brian McAlary, Vice President of Business Development, Technical and Export Sales. John Graves has been appointed to Vice President of Innovation and Productivity, another newly created position. Mike Soucy, a Twin Rivers veteran of over 28 years, has been named General Manager of the Plaster Rock operation. John Bates, who has spent the past four years working with the New York mills in various capacities, has been named the Director of NY Operations. Rounding out the new team members is Jason Querze, Customer Service Manager.

White Birch Paper set a $22/tonne price increase on shipments of 45-g (27.7-lb) newsprint, effective June 15. All other basis weights will be increased according to past practice, White Birch said.