Billerud is evaluating significant investments to transform its Escanaba mill into a world-class paperboard production facility and has applied for investment support from the State of Michigan. The Michigan House of Representatives and Senate has passed legislation approving an appropriation of up to USD 200 million in funding to support Billerud’s plans. The legislation must be approved by Michigan’s Governor, which is expected to occur within two weeks. A pre-feasibility study about Billerud’s planned conversion of the Escanaba mill to paperboard production is ongoing and planned to be completed during the first half of 2023, after which the company’s Board of Directors can make an investment decision.

Positive outcome reflects the strength in Rottneros’ business model *NET TURNOVER decreased by 14 percent to 693 (806) MSEK. *THE LIST PRICE of NBSK pulp was 21 percent lower in USD and 19 percent lower in SEK compared with the third quarter of 2022. *PRODUCED VOLUME excluding groundwood pulp ­amounted to 88.8 (85.9) thousand tons, an increase of 3 percent. *SOLD VOLUME of sulphate pulp and CTMP totalled 102.3 (86.1) thousand tons.*EBIT (operating profit) was 49 (185) MSEK. The quarter continued to be affected by a weak European market. *NET PROFIT was 33 (270) MSEK. *THE BALANCE SHEET remains strong.

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.