Canfor Completes Purchase of Elliott Sawmilling Company Inc.

We are pleased to announce that 30-year paper and packaging veteran Tony Mollica joined Twin Rivers as our new Chief Executive Officer. He brings to the company a unique blend of sales, operations, and leadership experience that will accelerate our strategic transformation to becoming the market-leading manufacturer of specialty packaging, technical, label, and publishing papers. Tony replaces Tim Lowe, who will return to his role on the Board of Directors after acting as Interim CEO.

Kruger Products officially inaugurated its Sherbrooke Tissue Plant, which was commissioned in 2021, and also broke ground at its expansion project where another tissue plant will be built on a site adjacent to the Sherbrooke Plant by 2024. This second project, which represents further investments of $351.5 million, will deliver on the Company’s vision to make Sherbrooke a major premium-quality tissue product manufacturing hub in North America, featuring Canada’s most advanced and best-performing TAD tissue machine. In total, the Company will have invested nearly $1 billion in the Estrie Region since 2018. The Sherbrooke Plant’s inauguration and the ground breaking of the expansion project took place in the presence of Mr. Joseph Kruger II, Chairman of the Board and Chief Executive Officer, Kruger Inc.; François Legault, Premier of Québec; Pierre Fitzgibbon, Québec Minister of Economy and Innovation; Geneviève Hébert, Member for Saint-François and Deputy Government Whip; Évelyne Beaudin, Mayor of Sherbrooke; Dino Bianco, Chief Executive Officer, Kruger Products L.P.; and Patrice Bégin, General Manager, Kruger Products Sherbrooke Plant.

Resolute Forest Products Inc. announced that the board of directors appointed, effective today, Duncan K. Davies as an additional member of the company's board, and that Mr. Davies will succeed Bradley P. Martin as the company's non-executive chairman. Mr. Martin of Fairfax Financial Holdings Limited will continue to serve as vice chairman of Resolute's now eight-member board. "Duncan has outstanding credentials and a proven track record of success in the North American forest products industry," said Remi G. Lalonde, president and chief executive officer. "We have identified wood products as a key pillar of our transformation strategy, and bringing Duncan's deep knowledge of the industry on board is an excellent step in that direction to complement our existing board and strategy. I want to also express our gratitude to Brad for his leadership and guidance as chairman for the last nine years. I'm delighted that Brad will continue to contribute to our success in his new role as vice chairman."