Efficiency processes at Norske Skog cutting 200 jobs

Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today reported a net loss for the quarter ended June 30, 2017, of $74 million, or $0.82 per share, compared to a net loss of $42 million, or $0.47 per share, in the same period in 2016. Sales were $858 million in the quarter, down $33 million, or 4%, from the second quarter of 2016. Excluding special items, the company reported a net loss of $3 million, or $0.03 per share, compared to net income, excluding special items, of $2 million, or $0.02 per share, in the second quarter of 2016.

Notable items in the first quarter of fiscal 2021 include: *Net sales of $4.4 billion were essentially flat compared to the pre-pandemic prior year quarter *Total packaging shipments increased 5%; record North American per day box shipments that increased 8% compared to the prior year quarter *Successfully started up the Company’s new 330” state-of-the-art paper machine in Florence, South Carolina; the machine’s 710k tons of annual capacity replaces three old machines *Distributed COVID-19 relief payments to employees totaling $22 million; these payments are not included in the Company's adjusted earnings per diluted share for the quarter *Generated net cash provided by operating activities of $719 million and Adjusted Free Cash Flow of $562 million compared to $431 million and $79 million, respectively, in the prior year quarter

Sappi has approved an investment in Kirkniemi Mill in Lohja, Finland which enables a switch in its energy sourcing to renewable bioenergy. With this investment the mill’s direct fossil greenhouse gas emissions will reduce by ca. 90 percent, which is equivalent to 230 000 tons of carbon dioxide annually. “By reducing our use of fossil fuels by shifting to renewable energy, Kirkniemi Mill is increasingly part of the solution to climate change. As the UN Climate Change Conference (COP26) negotiations underpinned, we collectively need to scale up climate action, and such investments are critical to change our emissions trajectory and dependency on fossil fuels”, explains Mill Director Martti Savelainen. The project, set for completion in early 2023, will contribute significantly to Sappi Europe’s decarbonisation roadmap by exiting coal at one of its last facilities partially using this fuel type. Biomass will then be used in Kirkniemi’s multi-fuel boiler, built in 2015. The move advances Sappi towards its 2025 targets which include reducing specific greenhouse gas emissions (scope 1 and 2) by 25 percent and increasing renewable energy share to 50 percent in Europe compared to 2019.