The Navigator Company announced today that it will increase paper prices in Europe from 4% to 6%, setting a minimum of 30 euros net per tonne. This increase will be effective for all dispatches from 1st February, and the Company will inform shortly about the details of the new prices to be applied by grade. This decision was taken due to unsustainable low levels of profitability across the industry in Europe and following the recent announcements of worldwide increases in pulp and logistics costs.

Rayonier Advanced Materials Inc. reported a net loss of $23 million or $(0.36) per diluted share for the quarter ended June 25, 2022, compared to net income of $122 million or $1.89 per diluted share for the same prior year quarter. The net loss from continuing operations for the quarter ended June 25, 2022, was $25 million or $(0.39) per diluted share, compared to net income from continuing operations of $8 million or $0.13 per diluted share for the same prior year quarter. Net income from continuing operations in the prior year quarter included a $25 million tax benefit resulting from remeasuring the Company’s Canadian deferred tax assets at a higher tax rate following the announcement of the disposal. Unless otherwise stated, information in this press release relates to continuing operations.

The company will continue to successfully manage a broad portfolio of attractive niche businesses, supported by a tailored operating model. Effective as of July 1, 2022, the Group will serve five growing and distinctive end markets, also forming the basis for five divisions, allowing for significant organic and inorganic growth. The divisions will be supported by global functions and centers of excellence for scale, synergies, and excellence. The five end-markets and corresponding divisions are: Filtration – Mission-critical air and liquid filtration applications. Food & Consumer Packaging – Solutions for improved food safety, product preservation, and bacteria prevention, helping extend product life and protect human health. Healthcare – Technologies serving essential societal uses in medical, laboratory, and life science settings including diagnostics, bioprocessing, and medical performance barriers. Building Materials – Highly engineered building material applications for every face of the building. Market growth is driven by urbanization and increasing demand for sustainable building materials. Technical Materials – Highly technical applications including protective materials such as insulation, precision coating, tape, and others.