Q3 2023 Highlights *Sales of $1,198 million (compared with $1,168 million in Q2 2023 and $1,174 million in Q3 2022); *Operating income of $80 million (compared with $64 million in Q2 2023 and $25 million in Q3 2022); *Net earnings per common share of $0.34 (compared with net earnings per common share of $0.22 in Q2 2023 and a net loss per common share of ($0.02) in Q3 2022); *Net debt1 of $2,088 million as of September 30, 2023 (compared with $2,076 million as of June 30, 2023).

International technology Group ANDRITZ has received an order from Kruger’s Trois-Rivières Mill, located in Québec, Canada, for a major reconfiguration of their TMP (thermo-mechanical pulp) peroxide bleach plant. Start-up is scheduled for the final quarter of 2018. The scope of supply includes: Delivery of new ANDRITZ components: HC mixer, HC bleach tower discharge system, two MC pumps; One reconditioned pulp screw press; Upgrade of two existing twin wire presses to achieve a higher production rate; Modification of one existing ANDRITZ twin wire press to move the drive to the other side; Basic engineering, erection supervision, as well as commissioning and start-up assistance are also part of the ANDRITZ scope. Click Read More below for additional information.

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.