Update on Mondi’s machine glazed speciality kraft paper machine investment at its Steti mill

Avery Dennison Corporation has appointed leaders for its two business segments. Hassan Rmaile has been named president of the Materials Group. Francisco Melo has been named president of the Solutions Group, a role that has been open since Deon Stander’s appointment to president and chief operating officer in March of 2022. As earlier announced, the company now consists of two reportable segments. The Materials Group comprises what was formerly Label and Graphic Materials and Industrial and Healthcare Materials. The change reflects efforts in recent years to leverage their combined operational capabilities and technologies to enhance the ability to win in their respective marketplaces. The Solutions Group was formerly Retail Branding and Information Solutions. This name change better reflects the business’s reach and ambition for its solutions beyond retail. Rmaile and Melo report to Avery Dennison President and COO Deon Stander.

Ahlstrom-Munksjö takes further steps into the energy storage market and pre-launches Ahlstrom-Munksjö Forticell®, its new platform of fiber-based solutions for energy storage applications. Electricity is the fastest growing source of energy and demand for energy storage is expected to grow significantly in coming years, driven by vehicle electrification, a shift towards renewable energy, an increasing demand in stationary applications and effective electricity supply chain management. Fiber-based materials are widely used in energy storage devices and, thanks to the Ahlstrom-Munksjö’s extensive expertise in cellulose, microglass and specialty nonwoven materials, the company is developing a complete range of solutions to its customers.

Interfor Corporation recorded Net earnings in Q1’22 of $397.0 million, or $6.69 per share, compared to $69.7 million, or $1.15 per share in Q4’21 and $264.5 million, or $4.01 per share in Q1’21. Notable items in the quarter: • Acquisition of EACOM Timber Corporation o On February 22, 2022, the Company completed the transaction to acquire 100% of the equity interests of EACOM Timber Corporation (“EACOM”) from an affiliate of Kelso & Company. The acquisition includes seven sawmills with a combined lumber production capacity of 985 million board feet, an I-Joist plant with annual production capacity of 70 million linear feet, and a value-added remanufacturing plant with annual production capacity of 60 million board feet (the “Acquired Eastern Canada Operations”). The Company paid total consideration of $731.2 million which was funded from cash on hand and drawings on the Revolving Term Line. o The Acquired Eastern Canada Operations contributed $5.1 million of Adjusted EBITDA to Interfor’s first quarter results, which is net of $68.0 million recorded in production costs related to fair value adjustments recognized at the acquisition date.