Restructurings

UPM plans to adapt its uncoated publication paper capacity to a long-term profitable customer demand. The capacity reductions are planned to take place in Germany and Austria.

J.D. Irving Ltd. and Twin Rivers Paper Company have 2021 and 2022 assessments cut on two mills.

'A good facility in a good location,' says Canfor Pulp president.

LSC Communications-MCL announced that it has reorganized operations to strengthen its ability to serve the rapidly changing needs of its customers. The magazine and catalog printing unit will now go to market as three brands: ENRU™Logistics and Postal Optimization, KODI Collective™ Marketing Execution Services, and LSC™ Print Solutions.

The impending Merced, California, plant closure and subsequent capacity reduction is a reflection of the overall market decline in the retail advertising insert and publication printing markets.

With the withdrawal from the graphic paper business, Opal will focus on the packaging business, which is expected to grow in the future, and will strengthen its integrated packaging supply strategy in Oceania by transitioning the Maryvale Mill into a sustainable packaging paper mill.

Georgia-Pacific has scheduled the official retirement of its Quanah Acme Gypsum plant for March 1, 2023. In 2020, Georgia-Pacific announced it would be retiring the Acme plant and shifting production to other company facilities. Since then, the plant has been fully operational, producing the company's variety of gypsum products.

To better reflect its business focus and opportunity, UFP Industrial, LLC, a leading supplier of total packaging solutions, packaging logistics support and OEM components, and a subsidiary of UFP Industries, Inc. (Nasdaq: UFPI), is changing its name to UFP Packaging, LLC. The change is effective February 1, 2023.

LSC Communications, which is closing two plants in Lancaster County, and will lay off about 656 people, will move the work at those two locations to its long-run print facilities in Maple Grove, Minnesota and Warsaw, Indiana.

The 165 employees impacted by this decision will receive severance and employment transition support.

Ahlstrom will start a strategic transformation program "Stella" to redesign and renew its business platform. This will greatly benefit Ahlstrom's way of doing business by utilizing data and the opportunities for further digitalization.

The shutdown will impact 31 of the 106 employees.

Rengo Co., Ltd. announces that its consolidated subsidiaries, Kato Danboru Co., Ltd.'s Noda Plant and Sanwa Danboru Co., Ltd., have decided to cease operation of their outdated corrugators and remove them at the end of September 2022.

Ahlstrom-Munksjö has started to operate under the business name Ahlstrom as of October 3, 2022. The company has completed the ownership reorganization of its Decor business and thus proceeded with its plan, announced in May 2022, to change its name to Ahlstrom. The divested Decor business continues as an independent company under the well-recognized Munksjö name.

The site has been producing consumer packaging and belongs to division Packaging Solutions. The existing operations are moving to Wujin and Dongguan sites. The last day of operations at Jiashan site will be October 21, 2022.

To strengthen its competitiveness and increase efficiency, Essity is announcing the following changes to its organizational structure and Executive Management Team, valid as of December 31, 2022.

Mativ Holdings, Inc., a global leader in specialty materials, today announced the planned relocation of its corporate headquarters to a new location in Alpharetta, Georgia. Mativ is a ~$3 billion manufacturer of critical components and engineered solutions, the result of the successfully completed merger between Neenah, Inc. and Schweitzer-Mauduit International, Inc.. The move will enable the company to further enhance its employee experience, innovation and customer support.

Resolute Forest Products Inc. announces the ratification of a four-year labor agreement with the Unifor union covering 1,000 employees working in eight of the company's Quebec sawmills, following an agreement-in-principle reached on July 15.

Charlotte Kaiser has joined the BTG Pactual Timberland Investment Group (TIG) as the firm's first Head of Impact Finance.

Ahlstrom-Munksjö now takes the next step in its strategy execution. Through a clearly defined purpose, sharper strategic focus and ambitious sustainability targets, the company is accelerating its pace of execution with the vision to become the Preferred Sustainable Specialty Materials Company. Following the ownership reorganization of its Decor business, estimated to be completed by the end of the third quarter of 2022, Ahlstrom-Munksjö plans to change its business name to Ahlstrom.

Paper Excellence is in the process of switching from primarily making newsprint and writing paper to food packaging at its Catalyst mill in Port Alberni, and is getting some help from the federal government to make the switch.

Ahlstrom-Munksjö Holding 3 Oy's Board of Directors has agreed an ownership reorganization plan under which the production assets, debts, and liabilities relating to its Decor business will be transferred from Ahlstrom-Munksjö Holding 3 Oy, without liquidation, to a newly formed company that will be named Munksjö.

Chatham Asset Management, LLC, a private investment firm which manages funds that beneficially own approximately 6.3% of the outstanding common stock of Rayonier Advanced Materials ("RYAM" or the "Company") (NYSE: RYAM) and is a substantial bondholder of the Company, issued an open letter to RYAM shareholders reaffirming its intention to withhold its vote against two long-tenured members of the Company's Board of Directors, Thomas I. Morgan and Lisa M. Palumbo, at the Company's annual meeting of shareholders on May 16, 2022.

In order to help facilitate the Company's financial restructuring, Dunn Paper's Board of Directors has named David Coles as Chief Restructuring Officer. Mr. Coles is a seasoned financial restructuring expert and a Managing Director of Alvarez and Marsal, a leading restructuring firm.

West Fraser Timber Co. Ltd. announced that it will permanently reduce capacity at its pulp mill in Hinton, Alberta ("Hinton Pulp") by the end of this year. One of Hinton Pulp's two production lines will shut, and the remaining line will produce Unbleached Kraft Pulp ("UKP") rather than Northern Bleached Softwood Kraft Pulp ("NBSK").