Sylvamo Enters Into Cooperation Agreement, Appoints Two New Independent Directors

FibDex® wound dressing – made from nanofibrillar cellulose by UPM Biomedicals – has taken a significant step in its path to market, as leading medical device distributor Steripolar Oy now sells the product in Finland. FibDex is the first clinical product of renowned forest-based bioindustry company UPM and shows promising signs for future developments, such as cell therapy. ”We are excited to offer this Finnish product, made from Finnish raw material, first in the world to Finnish healthcare professionals and patients,” said Johana Kuncova-Kallio, Director of UPM Biomedicals. “Nanofibrillar cellulose has proven its potential both in the development of cell therapies and in clinical applications, and we are committed to further innovation.” Kaj Dahlström, CEO of Steripolar, added: “We were attracted to the ingenuity of FibDex. We are always looking for products and solutions that offer diverse and pain-free healing, while minimizing damage to the environment.”

The past six months have brought forth a lot of change and uncertainty, but one thing has remained the same - Nekoosa's focus on growing our product offering while striving to provide excellent customer service and substrates to our distributors, end-users, printers and partners. Throughout that time, we have successfully added 14 new SKUs to our Wall Graphics®, Sign-Ad®, Premium Vinyl and Classic Vinyl offering. Check out the full SKU offering on our downloadable Mojave Wide Format Specialty Print Media flyer. https://nekoosa.com/brands/mojave-digital-media

First, the Company is ceasing production at its very small facility in Niagara Falls, New York, effective immediately and maintaining the premises as a distribution centre. Additionally, Supremex will close its facility in Concord, Ontario, as its lease expires in February 2025 and will transfer the location’s most efficient production equipment, primarily to its other Greater Toronto area (“GTA”) envelope plants in Mississauga and Etobicoke over the coming months. These measures will not result in significant headcount reduction as the vast majority of employees will be relocated within the Company’s existing operations. Related to these moves, Supremex will record restructuring charges of approximately $2.7 million before taxes for a period extending from the third quarter of 2024 through the first quarter of 2025. “With the rising cost of real estate, consolidating envelope production in the GTA will significantly reduce fixed costs and allow us to optimize capacity utilization throughout our network as we methodically pursue the execution of our North American expansion strategy,” said Stewart Emerson, President and CEO of Supremex. “In addition to optimizing the equipment base in the Toronto region, some redundant equipment will be re-deployed to U.S. facilities, providing customers with superior service and high-quality products at the most affordable cost. Finally, we expect the operating leverage resulting from these initiatives to improve the profitability and cash flow generation of our envelope activities.”