During last year, we reviewed Stora Enso’s strategic agenda and identified our focus areas going forward. We want to focus on and take leading market positions in the segments where we see potential for future growth, namely packaging, wooden construction and biomaterials innovation from lignin. As a consequence of our strategic direction, we are in the process of exiting the segment of dissolving pulp for viscose production globally. This segment is not core for us and stands for only a small part of our overall business. Dissolving pulp is produced at Stora Enso’s Enocell mill, which currently produces both standard and dissolving pulp grades. Production at the Enocell mill will continue with other types of pulp grades than dissolving pulp and for other end uses than viscose.

Pulp and Tissue President Richard Tremblay is an experienced executive with more than 35 years in the pulp and paper industry. He was born in La Tuque, Quebec, and graduated from the University of Sherbrooke. Prior to joining Resolute in 2011, he served as general manager of several mills at Smurfit-Stone Container Corporation, beginning in 2002. He was named to his current role in February 2024, after serving in roles of increasing responsibility and leading Resolute’s pulp, paper and tissue manufacturing operations for more than 13 years. He recently spoke about aspects of the integration, pulp and tissue prospects in 2024 and efforts to serve customers well.

Members of the Paperworkers’ Union, the Finnish Electrical Workers´ Union and the Trade Union Pro have this morning (1-Jan-2022) started strikes at UPM mills in Jämsänkoski, Kouvola, Lappeenranta, Pietarsaari, Rauma, Tampere and Valkeakoski. According to the unions, the strikes will continue until 6 o’clock on 22 January 2022 unless a new collective labour agreement is reached before that. The Paperworkers’ Union has not excluded any work from the strike, not even tasks critical to the society, such as operating and maintenance of water treatment and power plants. UPM businesses falling under the strikes are UPM Pulp, UPM Biofuels, UPM Communication Papers, UPM Specialty Papers and UPM Raflatac. The strikes do not concern UPM Plywood and UPM Timber, both of which signed business specific collective agreements with the Industrial Union in December. Furthermore, UPM Energy operates as usual, as it complies with the generally applied collective agreements of the energy industry.