Twin Rivers Paper Announces Price Increase

Mercer International Inc. announced that it has entered into an agreement to acquire all of the outstanding shares of the parent company of HIT for consideration of €270 million, inclusive of forecasted net working capital of approximately €43 million. HIT owns, among other things, 100% of a timber processing and value-add pallet production facility in Torgau, Germany (the “HIT Facility“) and a wood processing facility in Dahlen, Germany that produces garden products.

Norske Skog’s EBITDA in the fourth quarter of 2021 was NOK 422 million, an increase from NOK 111 million in the third quarter of 2021. Sales prices for all grades increased in the quarter as a necessary consequence of unprecedented high energy costs in Europe and a tightened publication paper market situation following significant capacity closures and post Covid-19 demand recovery. The European mills operated at full capacity during the quarter. Cash flow from operations was NOK 317 million in the quarter compared to NOK -99 million in the previous quarter, positively impacted by the improved operating margins, change in working capital and sale of CO2-allowances, but negatively impacted by employee redundancy payments at the Tasman mill in New Zealand. Operating earnings in the fourth quarter of 2021 were NOK 479 million compared to operating earnings in the third quarter of 2021 of NOK -565 million. Net profit in the quarter was NOK 400 million compared to a net loss of NOK 602 million in the previous quarter. Net interest-bearing debt was NOK 1 054 million at the end of the fourth quarter, with an equity ratio of 34%.

Neenah, Inc. announced a 25 million euro investment in new meltblown capacity in our German filtration facility. Neenah is committed to accelerating growth in life science and industrial filtration markets. Our portfolio of meltblown products promotes higher filtration efficacy and lower energy usage, which our customers value. Our electrostatically charged NeenahPure® media solutions support HVAC, air pollution control, and air purification systems, delivering market leading efficiencies >99.9%. "Clean air and water are critical to our communities and environment. Meltblown technology effectively removes harmful particles from the air we breathe and the water we drink. This new meltblown line intensifies our innovation efforts and allows us to continue to grow with our customers," said President and CEO Julie Schertell.