Cascades to Permanently Close Its Corrugated Medium Plant in Niagara Falls, New York

Norske Skog has over the last few days made meaningful progress with the holders of the EUR 100 million NSF facility and the majority holder of the 2115 Perpetual Notes towards find a mutual acceptable solution where these financial instruments are included in the consensual recapitalization of the Norske Skog group. If a solution is achieved, Norske Skog will have received indicative support from the requisite majority of all relevant financial instruments in the Norske Skog capital structure. Due to the need to include a solution for the NSF facility and the Perpetual Notes in the overall recapitalization proposal, a new consent solicitation to the secured and unsecured noteholders will need to be launched. It is not anticipated that the updated consent solicitation will include any material changes to the terms set out in the current consent solicitation statement. As a new consent solicitation will have to be launched, the current consent solicitation will not be extended and will therefore expire on 3 November 2017 at 17:00 CET. Click Read More below for additional information.

Ahlstrom-Munksjö has completed an investment in one of its filtration material production lines in Binzhou, China. The machine rebuild adds production capacity and new capabilities that will further enhance the product portfolio. The production line will be able to deliver the highest performing oil, fuel, air and industrial filtration materials, which will strengthen Ahlstrom-Munksjö's offering and service for the Asian customers. The investment plan was initially announced in January 2020. "This investment reinforces our commitment to our customers in Asia," says Kathrin Hueppe, Head of Asia, Filtration & Performance Solutions business area. "Improving our capability in the Binzhou plant allows us to serve their growing needs in high-performance filtration.”

The American Forest & Paper Association (AF&PA) released its April 2022 Printing-Writing Monthly report. According to the report, total printing-writing paper shipments remained essentially flat (+0.3 percent) in April compared to April 2021. Total printing-writing paper inventory levels increased one percent when compared to March 2022. U.S. purchases of uncoated free sheet (UFS) papers in April increased one percent compared to last April while the inventory level increased one percent compared to March 2022. UFS imports increased 12 percent while exports decreased 26 percent in March 2022. Coated free sheet (CFS) paper shipments increased five percent compared to April 2021 while the inventory level increased two percent compared to March 2022. CFS imports increased 16 percent while exports decreased ten percent in March 2022. U.S. purchases of coated mechanical (CM) papers in April decreased 21 percent compared to last April while the inventory level increased six percent compared to March 2022. CM imports and exports both decreased compared to March 2021, down 21 percent and nine percent respectively. Uncoated mechanical (UM) paper shipments increased 15 percent compared to April 2021 while the inventory level increased one percent compared to March 2022. UM imports increased 13 percent while exports remained essentially flat (-0.1 percent) in March 2022.