Jeff Melucci, currently Senior Vice President, Business Development and General Counsel, has been named as Chief Transformation, Business Development and Legal Officer, adding responsibility for the company's transformation roadmap for further building its global organizational capabilities. This expanded role assumes the responsibilities of Achal Agarwal, who has announced his intent to retire at year end after 12 years with Kimberly-Clark and a nearly 40-year career. Melucci will continue to report to Mike Hsu, Kimberly-Clark Chairman and CEO. In addition, Gonzalo Uribe has been named as President of Kimberly-Clark's Latin American consumer business, and will also report to Hsu, with responsibility for the company's consumer operations across Latin America.

Third Quarter Highlights: *Record net sales of $267.9 million were up 40 percent from prior year, with strong performance in each segment. Excluding the effects of the Itasa acquisition, net sales were 22 percent higher than prior year. *Record net sales in Technical Products were led by organic growth in all product categories. Net sales were up 46 percent from prior year, including sales from the Itasa acquisition. Excluding the acquisition, quarterly sales were up 15 percent from prior year. *Net sales in Fine Paper and Packaging were up 32 percent from prior year, driven by record sales in premium packaging and growth in consumer products. *As expected, operating margin was pressured by unprecedented increases in input costs and supply chain disruptions, as well as the effects of flooding from Hurricane Ida at our Pennsylvania facility. *Liquidity remained strong at $190 million as of September 30, 2021. *Itasa was awarded the EcoVadis 2021 Gold Medal for Sustainability, a key designation demonstrating our commitment to sustainable manufacturing practices.

On June 30, 2017, Orchids Paper Products Company entered into Amendment No. 5 to its Second Amended and Restated Credit Agreement dated June 25, 2015 by and among the Company, U.S. Bank National Association and the other lenders party thereto. The Credit Agreement Amendment, among other things, struck the fixed charge coverage for the period ended June 30, 2017, thereby also waiving a requirement for a Cash Reserve, as defined in the Credit Agreement, to be funded by that date. Covenants for future periods remain unchanged from the prior amendment. Additionally, the Company agreed not to make any dividend or other distribution payment with respect to its equity unless the Company has achieved a Leverage Ratio of less than 4.0:1.0 for two consecutive fiscal quarters and no Default or Event of Default (as defined in the Credit Agreement) exists or would exist following such payment. The amount and timing of dividend payments otherwise remains subject to the judgment and approval of the Board of Directors. Click Read More below for additional detail.