Restructurings

As a result, the number of positions at UPM Raflatac will decrease by 129.

Financial implications associated with the closure of the Appleton facility include an estimated annual EBITDA benefit of $7 million to $8 million, excluding estimated one-time cash closure costs of $5 million to $6 million and one-time non-cash charges of approximately $45 million.

UPM has completed the employee consultation process in Finland started in April. The company will improve efficiency in global functions by reorganizing and streamlining the operations. As a result, the number of employments in Finland will decrease by 28. In Germany and Austria, the process is still on-going.

LSC Communications announced that its Book Division, the largest book producer in the United States, will now operate as Lakeside Book Company ("Lakeside"). In addition to book manufacturing, Lakeside provides distribution, sales and marketing services, as well as IP and brand protection technology for book publishers and others requiring premium quality print and distribution-related services. The new name of the Book Division as Lakeside Book Company is rooted in the company's rich history and marks a renewed commitment to providing best-in-class printing and fulfillment services.

Norske Skog will close its Tasman Mill at the end of June, with 160 staff to be made redundant.

Nippon Paper Industries has decided that at the end of May 2022, it will shut down the operation of its coated paper-producing N6 paper machine at Ishinomaki mill (Ishinomaki City, Miyagi Pref) in Japan.

In line with its previously communicated intention, Nordic Paper has decided to discontinue the production of pulp at the Säffle plant during the fourth quarter 2021 and replace it with purchased external pulp. The decision has been made as the consultations with trade unions regarding the pulp production now have been concluded. The decision leads to positive environmental effects and the use of fossil fuels at the plant will be reduced to less than half of the current level.

Ahlstrom-Munksjö is exploring strategic options for its Decor business, including the possibility of divesting the business. The review process, first announced on September 17, 2019, has been impacted by the Covid-19 outbreak.

UPM will close the unexplained gender pay gap that cannot be explained for example by person's performance, work experience, job grade or job location, i.e. the factors that typically determine a person's salary and its development. The pay equity review, carried out this year, applies to all of UPM's operating countries and is part of the company's fair remuneration policy.

Arctic Paper consolidates the sales organizations for Scandinavia and the Baltics into a joint company, Arctic Paper ScanBaltics.

Specific proposals outlined in the letter include removing the Company's value destructive "poison pill," executing a modest stock buyback program, and conducting a non-deal equity roadshow to educate the institutional investment community on RRD's recent deleveraging and growth initiatives. As a longstanding, supportive shareholder of RRD, Chatham strongly recommends RRD undertake these actions to enhance value for all the Company's stakeholders.

Stora Enso will start co-determination negotiations with employees at its Kvarnsveden Mill in Sweden and Veitsiluoto Mill in Finland regarding a plan to permanently close down pulp and paper production at both mills. The planned closures would take place during the third quarter of 2021, and affect directly 670 people in Finland and 440 people in Sweden.

Kimberly-Clark will move more than 250 positions in sales, marketing and executive management from Wisconsin to a new commercial center in Chicago, the company said Wednesday.

UPM continues to take action to ensure the company's competitiveness. UPM aims to increase efficiency of its global functions by reorganising and streamlining the operations in Finland, Germany, and Austria. If implemented, the plans would decrease the number of employments in the functions by up to 51.

UPM Timber has completed the employee consultation process started in early February on its plans to improve profitability and strengthen competitiveness. Based on the negotiations, the number of positions at UPM Timber will decrease by 43.

Progress on West Fraser Timber's new lumber manufacturing complex in Dudley, Georgia remains on track with management's initial expectations. Substantial portions of the new mill are being commissioned and are ramping up, with the new site expected to be fully operational by the end of the 2Q 2021.

As previously announced, Spa Holdings 3 Oy has acquired through a public tender offer more than 90 per cent of all the issued and outstanding shares and votes in Ahlstrom-Munksjö.

Södra is forming the Innovation business area. The initiative will involve a stronger focus on new, profitable business, while the other business areas will gain more traction for the development of their existing operations. Catrin Gustavsson, who is currently Senior Vice President Innovation and New Business at Södra, is to become the new Business Area President.

Significant progress has been made at the former Madison Paper Industries mill under its new leadership.

Thursday February 25, at 7.07 am, SCA closed permanently paper machine LWC4 at Ortviken paper mill. With this, SCA's all production of publication paper has come to an end.

International Paper Company announced the election of Anton V. Vincent to its Board of Directors effective March 1, 2021.

Rengo Co., Ltd. enters into a memorandum of understanding with Taiko Paper Mfg., Ltd. (TPM) to consider supporting the business reconstruction of TPM. TPM filed an application to commence corporate reorganization proceedings in the Tokyo District Court, Japan.

SCA has decided to invest SEK 1.45 billion in the production of chemically pretreated thermomechanical pulp on the Ortviken industry site.

Effective immediately, Wade Brewer has been promoted to the position of Director of Manufacturing.

In order to better serve its customers and respond to future growth of the sector in Southeast Asia, the company is transferring its Malaysian manufacturing base from Penang to Port Klang, Selangor State, the capital region of Malaysia.