Major Expenditures

Smurfit Kappa has completed a large-scale sustainability project at its Zülpich paper mill in Germany, which significantly reduces the plant's CO2 emissions. The Euro11.5 million investment included a major redesign of the plant's multi-fuel boiler to provide a more sustainable fuel source for the generation of steam and electricity.

Western Forest Products Inc. announced capital investments totaling approximately $29 million towards its British Columbia (B.C.) operations in Canada. These capital investments represent an increase of $13 million over and above the $16 million of capital investments discussed in the Company's 1Q 2022 Management's Discussion and Analysis.

The facility, scheduled to be operational by the third quarter of 2023, will bring more than 60 new jobs to the area.

Chilean pulp and wood panel manufacturer Arauco has signed an agreement to invest around $3 billion to build a new pulp mill in Brazil, it said in a statement.

Canfor Southern Pine (Canfor) is investing $25 million to modernize its Hampton County facility in South Carolina, South Carolina Gov. Henry McMaster and the S.C. Department of Commerce announced.

The investment in the new line amounts to over Euro 50 million and is part of the Beeskow 50+ project, which refers to both the investment and the site´s more than 50 years of existence.

Progroup is building a new corrugated sheetfeeder plant in south-west Germany, between the Palatinate villages of Petersberg and Höheischweiler. The company is investing more than Euro 90 million in the new building and is thus continuing to pursue its growth strategy. Production is set to begin in the second half of 2023.

PotlatchDeltic Corporation is investing $131 million to expand and modernize its Waldo sawmill located in Columbia County, Arkansas. The project will increase the mill's annual capacity from 190 million board feet of dimensional lumber to approximately 275 million board feet. The investment will also reduce the mill's operating costs significantly.

Saint-Gobain, through its building products subsidiary CertainTeed Canada Inc., announced plans to invest $91 Million CAD, including $40 Million CAD in grant money from the government of Quebec, via its EcoPerformance program, to upgrade equipment at its Montreal wallboard manufacturing facility and reduce its carbon emissions by up to 44,000 metric tonnes/year, creating the first zero-carbon drywall plant in North America. The reduction in emissions associated with the equipment upgrades at the plant is the equivalent of removing 9,500 cars from the road.

Smurfit Kappa has invested USD23.5 million to upgrade its Nuevo Laredo sheet plant in Mexico to become a fully integrated corrugated plant. The investment includes a state-of-the-art corrugator and extension of the building. The new machine, which began operating last week, will have the two-pronged benefits of reducing CO2 emissions by up to 40% and doubling production capacity.

Huhtamaki announced plans to expand its molded fiber product manufacturing unit in the city of Hammond, Indiana, as part of its investment in Fiber Solutions. The investment, which is expected to start ramping up towards the end of 2023, will enable Huhtamaki to better serve existing and new customers in North America with a broad range of sustainable, fully recyclable and compostable, fiber-based packaging solutions, manufactured from 100% recycled North American raw material.

American Packaging Corporation (APC) has announced that it's opening a new 275,000-square-foot Center of Excellence manufacturing facility in Cedar City, Utah. The new operation will add over 135 high-paying jobs to Iron County.

The initiative will focus on companies operating within at least one of four bioeconomy applications: improving the measurement and management of carbon sequestration, accelerating and maximizing agroforestry yield, developing new technologies and applications for pulp biomass, and creating more efficient pulp packaging from renewable sources.

MM Kotkamills is investing about Euro 30 million in two state-of-the-art cross cutters with automated core and waste handling. The investment is aimed at strengthening MM Kotkamills' position as a supplier of cartonboard sheets in the European cartonboard market.

Södra is launching a major initiative to develop family forestry. Södra will invest in innovative companies that introduce new technologies for forest estates and enable a more multifaceted approach to family forestry.

Smurfit Kappa Group PLC said it investing over EUR35 million in the construction of a new packaging plant in Morocco.

The construction phase of the project is expected to generate $34 million in revenue for the county and another $38 million for New Jersey, along with 140 temporary jobs.

Mondi, a global leader in sustainable packaging and paper, continues to make progress on its previously announced €125 million investment to expand and upgrade its Kuopio mill in Finland with expected start-up by the fourth quarter of 2023.

Finland-based Huhtamaki North America says it will invest $100 million to expand its facility in Hammond. The packaging manufacturer says the 250,000-square-foot addition will result in about 100 new jobs when its operational in 2023.

Soon after the company was sold to a new owner, Appvion announced the purchase of new equipment.

Canfor Corporation will invest approximately $130 million to significantly upgrade and expand its sawmill and planer facility located in Urbana in Union County, Arkansas. The investment will capitalize on the abundant supply of high-quality fiber to enhance the manufacturing of high-value products, increase annual production at the facility by 115 million board feet, and result in a meaningful reduction in the facility's cost structure.

The multi-million-dollar investment will strengthen Amcor's leadership in the growing industry for sterile packaging, offering customers in Europe and North America another site with comprehensive healthcare solutions.

The renovations are expected to take three years. In addition to improving safety and efficiency, a new production line will be installed.

Initially announced in January 2020, Ahlstrom-Munksjö has completed its investment and started production for additional capacity in both filtration and energy storage materials at its plant in Turin, Italy. By successfully expanding manufacturing facilities, Ahlstrom-Munksjö is making a strong commitment to customers in both the High-Performance Filtration and Energy Storage markets.

Enviva Inc., the world's leading producer of sustainable wood bioenergy, announced it will invest approximately $250 million in Bond, Mississippi to build a new wood pellet production plant. The facility is a key component of the company's growth strategy to double production capacity from the current 6.2 million metric tons annually to approximately 13 million metric tons annually over the next five years.