To ensure a viable, profitable future for the Rumford Division, ND Paper will be transforming the mill to increase its product flexibility and shift further into packaging grades. Notable changes include: • Commissioning of an unbleached recycled pulp line to provide fiber flexibility to the R12 and R15 paper machines • Conversion of its R15 paper machine from P&W papers into lightweight, high strength kraft linerboard products • Expansion of R12 paper machine capability to include unbleached recycled bag and converting papers, in addition to its current offering of bleached and unbleached papers • Continued operation of the R9 pulp dryer, including expansion into unbleached softwood kraft market pulp • Permanent curtailment of mechanical pulping operations and R15 coating and supercalender assets

In the third quarter of 2020, net income was $7.5 million (or $0.11 per share) compared to $1.2 million (or $0.02 per share) in the third quarter of 2019 and a net loss of $8.4 million (or $0.13 per share) in the second quarter of 2020. In the first nine months of 2020, Operating EBITDA decreased by 41% to $143.1 million from $244.6 million in the same period of 2019. In the first nine months of 2020, net loss was $4.3 million compared to net income of $63.1 million in the same period of 2019.

Monadnock Paper Mills, Inc. is pleased to announce the appointment of Dr. Rajan Iyer as its new Vice President of Research & Development and Technical Services. Dr. Iyer will oversee the company’s new product development efforts, guiding Monadnock’s portfolio development of award-winning and sustainably-advantaged fine printing, packaging, and technical papers. He replaces Paul Ciccone who has announced his retirement. Paul (Mr. Ciccone), a 41-year Monadnock veteran, will remain with the company for an undetermined period of time to ensure a smooth transition.

*Third quarter net earnings attributable to International Paper of $204 million, compared with $266 million in the second quarter of 2020 and $344 million in the third quarter of 2019. *Third quarter adjusted operating earnings* (non-GAAP) of $280 million compared with $305 million in the second quarter of 2020 and $431 million in the third quarter of 2019. *Third quarter cash provided by operations of $735 million and year-to-date of $2.3 billion compared with $2.7 billion year-to-date in the same period of 2019. *Third quarter debt reduction of $760 million, bringing year-to-date 2020 to $1.1 billion.

The fourth sheeting line at the UPM Kymi paper mill started full production at the end of October, strengthening UPM’s position on the market for graphic fine paper sheets. The new sheeting line, comprised of a folio sheeter, conveyors and a packaging line further expands the paper production area of the UPM Kymi integrated mill site. The new line was built in a space previously used as a warehouse, specifically converted for this purpose. The project was safely and successfully completed despite restrictions of Covid-19. Start-up took place on 24 September and performance tests have been conducted throughout October. The new line will produce coated and uncoated graphic fine paper sheets.

JANUARY–SEPTEMBER 2020 (1–9/2019) *Sales were EUR 3,698 million (4,183). *Operating result was EUR 279 million (342). Comparable operating result was EUR 274 million (418). *Result before taxes was EUR 242 million (298). The comparable result before taxes was EUR 236 million (374). *Comparable return on capital employed was 7.0% (11.0). *Cash flow from operations was EUR 419 million (421). JULY–SEPTEMBER 2020 (7–9/2019) *Sales were EUR 1,245 million (1,374). *Operating result was EUR 116 million (110). Comparable operating result was EUR 115 million (110). *Result before taxes was EUR 103 million (96). The comparable result before taxes was EUR 102 million (96). *Comparable return on capital employed was 8.8% (8.7). *Cash flow from operations was EUR 179 million (239).

Domtar Corporation announced it has signed an agreement with Voith to provide equipment and technical services to convert the paper machine at its Kingsport, Tennessee, mill to produce recycled containerboard including high-performance lightweight packaging grades, as well as industry standard grades. In addition to being a full-line supplier to the paper industry, Voith is also recognized as a leader in the containerboard machinery business. The company will play an important part in Domtar's entry into the containerboard market by helping build one of the most modern recycled containerboard machines in the world, able to set industry benchmarks in recycled containerboard strength and convertibility.

Lecta has appointed Alain Gaudré as Lecta CFO. Starting on October 26th, he will be reporting to Eduardo Querol, Lecta CEO. Alain Gaudré will also be appointed as an additional member to the Board of Directors of Lecta Ltd. Alain Gaudré has been working as CFO across different industries, including the automotive and packaging industries, and is experienced within both the international and industrial environments.

Stora Enso has appointed Tobias Bäärnman, Chief Strategy and Innovation Officer, as a member of the Group Leadership Team. He joined Stora Enso in 2017, first as SVP Controlling, Strategy and IT for Consumer Board division. Since December 2019, he has worked as Chief Strategy and Innovation Officer. Before joining Stora Enso, he worked as Finance Director at Iggesund Paperboard and has earlier held various positions at Statoil and Procter and Gamble. He has a master’s degree in finance. Stora Enso has also appointed Teemu Salmi, CIO and Head of IT & Digitalisation, as a member of the Group Leadership Team. He joined Stora Enso in 2017. Previously, he worked at Ericsson in various executive positions, most recently as SVP and Head of business unit IT & Cloud in Middle East & Africa. He has a bachelor’s degree in computer science.

Q3/2020 compared with Q3/2019 • Net sales decreased by 8.0% to EUR 654.5 million (711.3), mainly due an adverse currency effect and lower average selling prices • Comparable EBITDA decreased to EUR 78.9 million (83.6), representing 12.1% (11.7) of net sales, impacted by scheduled maintenance shutdowns • Operating result of EUR 32.9 million (34.3) • Net result EUR 15.5 million (12.0). Q1-Q3/2020 compared with Q1-Q3/2019 • Net sales decreased by 9.9% to EUR 1,994.1 million (2,214.1), mainly due to lower average selling prices and volumes as well as an adverse currency effect • Comparable EBITDA increased to EUR 244.7 million (242.4), representing 12.3% (10.9) of net sales, driven by lower variable costs, which more than offset lower selling prices and sales volumes • Operating result of EUR 132.5 million (87.2), including a capital gain of EUR 32.0 million from the sale of the fine art paper business • Net result EUR 71.2 million (30.9)

Ahlstrom-Munksjö strengthens long-term strategy development and deepens its innovation and sustainability focus by extending the Group Executive Management Team. Mikko Lankinen has been appointed Executive Vice President, Corporate Strategy and Development, and a member of the Group Executive Management Team as of October 28 2020. He reports to Hans Sohlström, President and CEO. Mikko is currently Chief Development Officer, Corporate Development. Robin Guillaud has been appointed Executive Vice President, Innovation, Sustainability and Communication, and a member of the Group Executive Management Team as of October 28 2020. He reports to Hans Sohlström, President and CEO. Robin is currently Vice President, Business Development, Filtration & Performance Solutions business area.

At Domtar, we are proud to be a part of the communities where we work, live and play. In many of these communities, the pulp and paper mill has influenced the development of the town and is often the area’s largest employer. Our Johnsonburg Mill is a great example of how a mill can shape a town. The Johnsonburg pulp and paper mill has been the backdrop and the backbone of this small Pennsylvania town since 1889. Boasting more than a century of partnership, the mill and the town have developed a symbiotic relationship. Click read more below for the rest of the story.

Q3 2020 highlights • Sales decreased by 19% to EUR 2,028 million (2,493 million in Q3 2019) due to lower deliveries of graphic papers and lower pulp and paper prices • Comparable EBIT was EUR 215 million, 10.6% of sales (342 million, 13.7%), down 37% year-over-year • Operating cash flow was EUR 365 million (500 million) • Closures of UPM Chapelle paper mill and UPM Jyväskylä plywood mill • Announced the closure of UPM Kaipola paper mill, plans for selling UPM Shotton paper mill and streamlining in several businesses and functions. Q1–Q3 2020 highlights • Sales decreased by 18% to EUR 6,392 million (7,791 million in Q1–Q3 2019) due to lower deliveries of graphic papers and lower pulp and paper prices • Comparable EBIT was EUR 697 million, 10.9% of sales (1,061 million, 13.6%), down 34% year-over-year • Operating cash flow was EUR 659 million (1,256 million) • Net debt was EUR 89 million (-2 million)• UPM's transformative pulp project in Uruguay and biochemicals project in Germany are well on track with the planned start-up timeline

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.

Companies in the pressure-sensitive labeling industry have announced a new global industry-wide consortium, CELAB: Creating the Circular Economy for Labeling. UPM Raflatac is acting as one of the key collaborators in CELAB to boost matrix and liner recycling in the pressure-sensitive labeling industry. The consortium aims to facilitate collaboration between companies from around the world and across the supply chain to drive progress on and promote solutions for matrix and release liner recycling. “Our RafCycle recycling service has been developed over the last 10 years and it gives label release liner waste a new life as release liner, face papers, magazine paper and composite material. By bringing our long experience to CELAB, we aim to drive the industry's shift towards the circular economy together with multiple players in the value chain. Furthermore, we aim to accelerate RafCycle development further by strengthening our service offering,” says Juha Virmavirta, Director, RafCycle solutions, UPM Raflatac.

Effective with all orders shipping on or after November 1, 2020, Verso Corporation is increasing the transaction price of all pulp products by $30.00 per metric tonne. This increase includes but is not limited to, Quinnesec® Hi-Maple BHK Pulp. Should you have any questions, please contact your Verso professional sales representative. Thank you for your continued support.

Accelerated by recent events, e-commerce sales continue to boom as today’s consumers purchase more of the products they use every day online — from the clothes they wear to the meals they eat. Unfortunately, this has increased concerns about unnecessary packaging waste and ever-greater levels of plastic pollution. Enter the paper freezer pack, which may one day replace plastic freezer packs for use in shipping refrigerated products. Domtar’s Catapult team recently revealed its paper freezer pack, an internally-developed potential solution to the issues posed by conventional cold chain offerings. Not only does the pack reduce plastic use, but it also capitalizes on mounting public interest in products made from sustainable wood fiber. The majority of this revolutionary paper freezer pack is made of forest-derived fiber, including paper, tissue and fluff pulp.

Total European shipments of graphic papers in August 2020 were down 24.5% vs. August 2019 and are down 20.6% year-to-date. Total European shipments of newsprint in August 2020 were down 25.0% vs. August 2019 and are down 18.3% year-to-date. Total European shipments of sc-magazine in August 2020 were down 21.3% vs. August 2019 and are down 20.1% year-to-date. Total European shipments of coated mechanical reels in August 2020 were down 32.2% vs. August 2019 and are down 28.1% year-to-date. Total European shipments of uncoated mechanical (improved & others) in August 2020 were down 13.4% vs. August 2019 and are down 9.8% year-to-date. Total European shipments of coated woodfree reels in August 2020 were down 33.1% vs. August 2019 and are down 26.8% year-to-date. Total European shipments of uncoated woodfree reels in August 2020 were down 15.7% vs. August 2019 and are down 15.8% year-to-date.

Kotkamills, a manufacturer of fully recyclable food service board, is currently exploring the possibility of establishing its own sales office in the North America. The launch of production in the still growing North American food packaging market is also being explored. “There is great interest in our products as alternatives to replace plastic also in North America, and by establishing a sales office we are pursuing growth in these huge markets. By operating close to the markets we can improve our customer service and, when needed, growth is supported by production built or acquired close to the markets. Starting our own production in North America is a vision, and the first steps in exploring it have already been taken,” says Kotkamills CEO Markku Hämäläinen.

Nine Dragons Paper Limited is pleased to announce the audited consolidated annual results of the Company and its subsidiaries for the twelve months ended 30 June 2020. * Record high sales volume; a year-on-year increase of 8.5% to approximately 15.3 million tonnes * Net profit1 was RMB 4.2 billion; a year-on-year increase of 7.5% * Gross profit margin of 17.6%, a year-on-year increase of 2.0 percentage points * Net profit margin of 8.1%; a year-on-year increase of 1.0 percentage point

Overview • Third quarter of 2020 reported operating income of $300 million, adjusted operating income of $347 million • Record-high adjusted lumber earnings of $387 million, driven by unprecedented surge in lumber prices and strong operational performance across all regions despite the impact of the coronavirus pandemic • Total net debt of $526 million at September 30, 2020, improvement of $331 million from prior quarter; available liquidity of $1.1 billion; net debt to capitalization of 18.6% at September 30, 2020 • Vida Group (“Vida”) completed acquisition of Bergs Timber Production AB (“Bergs”) sawmill assets • Cumulative cash deposits of $548 million on countervailing and anti-dumping duties at September 30, 2020

The Company reported an operating loss of $27.6 million for the third quarter of 2020, compared to an operating loss of $6.3 million reported for the second quarter of 2020. After adjusting for a $3.0 million recovery in its inventory write-down provision, the Company’s operating loss was $30.6 million for the third quarter of 2020, $32.5 million unfavourable compared to similarly adjusted results for the second quarter of 2020. The Company’s operating results for the third quarter of 2020 reflected weak global pulp market conditions as well as significant fibre-related and previously deferred scheduled maintenance downtime, stemming from the ongoing impact of the coronavirus (“COVID-19”) outbreak, combined with a 3 cent, or 4%, stronger Canadian dollar.

The American Forest & Paper Association (AF&PA) President and CEO Heidi Brock issued the following statement regarding the Environmental Protection Agency (EPA) New Source Review (NSR) project emissions accounting (PEA) rule, which was finalized today. “The EPA recognizes the need for sensible NSR accounting procedures that will provide a clear and concise approach to air permitting under the Clean Air Act. The PEA rule, by allowing increases and decreases in emissions to be counted together, will exclude minor projects from a burdensome and time-consuming permitting process. This NSR rule is part of a broader EPA effort to modernize an antiquated and complicated system and ensure the global competitiveness of American manufacturing. AF&PA commends the EPA’s efforts to advance regulatory process reforms, such as this, to support our industry’s ability to innovate, invest and create American manufacturing jobs.”

Iggesund Sawmill is being modernised to allow for an increase in production. Holmen is currently investing SEK 70 million in a new drying plant which will increase its drying capacity from 400 000 to 500 000 m3. The new drying plant is what is known as a tunnel dryer. It is much more energy efficient than the old kiln dryers which it will partly replace. The greater drying capacity will primarily be used for dried wood products for the joinery industry. In addition to investing in new dryers, the group had previously agreed to invest in land for timber storage and warehouse space.

Sales of $4.7 billion in the third quarter of 2020 increased 1 percent compared to the year-ago period. Organic sales increased 3 percent, while changes in foreign currency exchange rates reduced sales 2 percent. Volumes rose 2 percent and the combined impact of changes in net selling prices and product mix increased sales 1 percent. In North America, organic sales increased 8 percent in consumer products but fell 15 percent in K-C Professional. Outside North America, organic sales rose 2 percent in developing and emerging markets and 3 percent in developed markets. Third quarter operating profit was $666 million in 2020 and $915 million in 2019. Results in both periods include charges related to the 2018 Global Restructuring Program. Results in 2019 also include a gain on the sale of a manufacturing facility as part of the restructuring.

Norske Skog’s EBITDA in the third quarter of 2020 was NOK 73 million, a slight increase from NOK 52 million in the second quarter of 2020 when excluding the gain of NOK 86 million from the sale of the Tasmanian forest. Although, there are modest signs of demand improvement, the markets have not returned to pre-COVID-19 levels. Norske Skog Saugbrugs (Norway) will permanently cease production at one of their SC-machines (PM5/100 000 tonnes) during the fourth quarter. Operating earnings in the third quarter of 2020 were NOK -31 million compared to operating earnings of NOK -122 million in the second quarter of 2020, mainly driven by a modest sales volume increase. Net loss in the quarter was NOK 89 million compared to a net loss of NOK 59 million in the previous quarter.

Pelican Lake First Nation and Witchekan Lake First Nation and Paper Excellence Canada announced today the signing of a Letter of Intent that sets out the intentions of all parties to build a collaborative relationship with each other in Saskatchewan. “We now have agreements with all the industries around us,” said Chief Peter Bill of the Pelican Lake First Nation. Chief Anne Thomas of the Witchekan Lake First Nation added, “First and foremost in establishing a partnership is standing on common ground with a vision based on positive values. Touring the mill gave me an insight to possible opportunities.”

Third Quarter 2020 Results: Net sales were $1.73 billion, down 1.8%. Sales were down 1.3% ex. currency, and down 3.6% on an organic basis. Reported operating margin increased 100 basis points to 12.3%. Adjusted EBITDA margin increased 190 basis points to 16.1%, while adjusted operating margin increased 140 basis points to 13.1%. Reported net income was $1.79 per share, up 5%, and adjusted net income was $1.91 per share, up 15%, both of which were above the company’s expectations, reflecting a sales decline below the low end of its outlook range in July. Year-to-date free cash flow was $342 million, up 4.4% compared to the same period last year.

UPM Biocomposites and Finnish Mysoda have collaborated to create a range of sparkling water makers made almost entirely out of renewable materials. Traditionally, small kitchen appliances are made out of fossil-based plastics, so this innovation takes the sustainability of this type of product to a completely new level by substantially reducing the carbon footprint of the product. The raw material used for the Mysoda sparkling water makers is UPM Formi EcoAce biocomposite, which is made of wood fibres and renewable based biopolymer (on a mass balance basis), derived from UPM BioVerno naphtha. The materials originate from sustainable forestry and are produced from wood and pulp processing side streams and residues. Therefore, the raw material does not compete with food production and does not increase harvesting. Although composed of natural fibres, the UPM Formi EcoAce has similar material properties as fossil-based plastics and similar moulding technics can be used with it. The look and feel bears some similarities with wood as the wood fibres contained within create a natural finish for the end product.

UPM will establish a new labor markets team which will start its activities in the beginning of December. The background to the decision is the announcement of the Finnish Forest Industries Federation to discontinue the collective bargaining in the Finnish labor markets at the end of the ongoing agreement period. UPM aims to strengthen the company’s own capabilities in labor market matters and company specific bargaining. Jyrki Hollmén, LL.M., has been appointed Vice President, Labor Markets, as of 1 December 2020. He will report to Riitta Savonlahti, Executive Vice President, HR and will be a member of UPM HR Management Team. Jyrki’s current position is Director, Labor Markets in Finnish Forest Industries Federation. Mikko Lehtonen, LL.M., is appointed Legal Counsel, Labor Markets, as of 16 November 2020. He will report to Jyrki Hollmén. Mikko is currently working as a Manager, Collective Bargaining in Finnish Forest Industries Federation.

Highlights: *Operating profit for January-September was SEK 1 884 million (January-September 2019: 1 758). Profit was impacted positively by higher profit from Paperboard and Forest, but negatively by price decreases and production curtailments in Paper. *Compared with the second quarter, operating profit increased by SEK 172 million to SEK 714 million as a result of increased prices for wood products, decreased production curtailments in Paper and seasonally lower costs. *Profit after tax for January-September amounted to SEK 1 467 million (1 363), which corresponds to earnings per share of SEK 9.1 (8.1). *On 1 October Holmen completed the acquisition of Martinsons, one of Sweden's leading players in sawn and processed wood products.

Q3/2020 (compared with Q3/2019): *Sales decreased by 13.5% to EUR 2 079 (2 402) million, due to lower deliveries and prices. *Operational EBIT decreased to EUR 175 (245) million. The impact of lower sales was partly offset by continued cost management. *Operational EBIT margin was 8.4% (10.2%). *Operating profit (IFRS) was EUR 145 (170) million. *Operational ROCE was 6.7% (9.2%), below the strategic target of more than 13%. Q1–Q3/2020 (year-on-year): *Sales were EUR 6 400 (7 644) million, mainly as a result of the impact of the Covid-19 pandemic, and the Finnish union strikes during the first quarter. *Operational EBIT was EUR 532 (879) million.

Stora Enso has decided to start using a valuation method for its forest assets in the Nordics based on market transaction data and change the accounting policy from the fourth quarter of 2020 onwards. Preliminary estimations, based on transactions in those areas in which Stora Enso has forest land, indicate that the value of the Group’s forest assets, including leased land, will be between EUR 6.5 billion and EUR 7.0 billion, compared with the end of Q3/2020 book value of EUR 5.4 billion. The review of the fair value will be completed during the fourth quarter and will take into account also the latest transaction prices. Deferred tax liability will be recognised based on the difference between the forest assets’ book value and their value for tax purposes in the same manner as currently.

American Forest & Paper Association (AF&PA) President and CEO Heidi Brock issued the following statement recognizing the 60th anniversary of National Forest Products Week (October 18 – 24): “This week, during National Forest Products Week, we celebrate the undeniable value of the 950,000 people who work in the forest products industry – working safely to make essential products. “From tissue and paper towels, to packaging around the goods you ordered online, to the cups holding your coffee, paper and wood products contribute to our everyday lives. And, demand for these products encourages forest landowners to grow and replant trees, keeping forests as forests.”

According to the report, total printing-writing paper shipments decreased 21 percent in September compared to September 2019. U.S. purchases of total printing-writing papers decreased 20 percent in September compared to the same month last year. Total printing-writing paper inventory levels decreased seven percent when compared to August 2020. Uncoated free sheet (UFS) paper shipments decreased 19 percent compared to September 2019 while the inventory level decreased six percent compared to August 2020. UFS imports and exports both decreased compared to August 2019, down 18 percent and 40 percent respectively. U.S. purchases of coated free sheet (CFS) papers in September decreased 12 percent compared to last September while the inventory level decreased 10 percent compared to August 2020. CFS imports and exports both decreased compared to August 2019, down 36 percent and 27 percent respectively. Coated mechanical (CM) paper shipments decreased 31 percent compared to September 2019 while the inventory level increased two percent compared to August 2020. CM imports decreased 30 percent while exports increased five percent in August 2020. U.S. purchases of uncoated mechanical (UM) papers in September decreased 28 percent compared to last September while the inventory level decreased eight percent compared to August 2020. UM imports and exports both decreased compared to August 2019, down 15 percent and 44 percent respectively.

With around 4,000 women employed directly or indirectly by Sappi Forests nationwide– through its own personnel in its nurseries, and sub-contracted to its harvesting and silviculture contractors – the company is very aware of the crucial role that rural women play in the agricultural labour force. It is to these women that the United Nations have dedicated the International Day of Rural Women, celebrated on 15 October every year. Fittingly, the theme for this year is “Building rural women’s resilience in the wake of COVID-19” and highlights the fact that the specific struggles that rural women face in their daily lives were further aggravated by the pandemic. World Food Day is another significant UN commemorative day which follows immediately on 16 October and further ties in the crucial role that rural women play in combating top on the list of the UN’s Sustainable Development Goals (SDG 1 ‘No Poverty’ and SDG2 ‘Zero Hunger’).

Swedish road and infrastructure operator Svevia has decided to collaborate with Stora Enso in testing lignin in asphalt. Through this collaboration, Svevia aims to replace part of the oil-based binder with nature’s own binder – lignin, Lineo ™ by Stora Enso. The lignin containing asphalt is currently being tested out on Swedish roads. Svevia is carrying out road paving work on road 224 between the towns of Sandbrink and Gnesta on behalf of the Swedish Transport Administration. Of the total 15-kilometre stretch, Svevia has chosen to test Lineo™ on a couple of hundred meters, where lignin will replace bitumen. Lignin was chosen as it is a bio-based natural binder found in trees with the potential of reducing the negative climate impact of asphalt.

Employee consultations for UPM Communication Papers were concluded at the Jämsä River mills this week. The UPM Kaipola paper mill in Jämsä, Finland, will be closed permanently by mid-December. UPM’s second paper mill in Jämsä, UPM Jämsänkoski, will continue operations with one graphic paper machine and two specialty paper machines. The parties were not able to identify an economically viable solution for the future operation of UPM Kaipola. Consequently, Kaipola’s three paper machines will be permanently closed, affecting altogether 448 positions at the mill, of which 20 positions will be transferred to UPM Jämsänkoski’s Specialty Papers operations. Approximately 20 % of the redundancies will be retirements, with discussions pending. The closure will lead to an annual reduction of 720,000 tonnes of graphic paper capacity, thereof 450,000 tonnes of newsprint and 270,000 tonnes of coated mechanical paper. An after-care team will ensure safe conditions at the mill after the closing.

Average input costs were stable sequentially and cost control was strong across the business. Currency movements had a net negative impact on underlying EBITDA compared to the second quarter, driven by a weaker US dollar, impacting a number of the Group's globally traded products, coupled with a weaker Russian rouble and Turkish lira. Given prevailing exchange rates, we anticipate a further net negative currency impact in the fourth quarter. During the quarter, planned maintenance shuts with an estimated impact on underlying EBITDA of around €35 million (2019: €40 million) were carried out successfully. Based on prevailing market prices, we continue to estimate that the impact of planned mill maintenance shuts on underlying EBITDA for 2020 will be around €100 million (2019: €150 million), with the fourth quarter impact expected to be around €55 million (2019: €30 million). Our major capital investment projects are progressing according to plan. The €67 million capital investment project to convert a containerboard machine at Štětí (Czech Republic) to become fully dedicated to the production of speciality kraft paper for shopping bag applications is scheduled to be commissioned during the fourth quarter. This additional capacity (75,000 tonnes) further supports our retail customers in their efforts to replace unnecessary plastic as they transition to more sustainable packaging solutions that contribute to the circular economy.

Italian tissue manufacturer EuroVast fired up a new Modulo-Plus tissue machine supplied by Toscotec at its Cartiera della Basilica paper mill in Villa Basilica, Lucca, Italy. PM5 is running efficiently at the speed of 1,600 m/min and since its start-up in February, it has exceeded the project’s production targets with excellent results in energy consumption. The new line completely replaced the mill’s existing PM5, a suction breast roll machine. The sheet width is 2,770 mm and the production capacity is over 30,000 tpy. It is equipped with a single press TT BlindDrilledPressRoll, a TT SYD and gas-fired TT Hoods. PM5 produces toilet tissue, kitchen towels and napkins from 100% pre-dried virgin pulp. EuroVast also purchased a complete service package including dismantling operations, erection, training, commissioning, and start-up assistance.

Stora Enso has completed the co-determination negotiations concerning the closure of one standard newsprint paper machine (PM3) and the deinking plant at Stora Enso’s Hylte Mill in Sweden. The maximum personnel impact is 140 people. As a result of the co-determination negotiations, PM3 will be shut down by the end of 2020 and the DIP latest in Q2 2021. Negotiations on organizational restructuring, including the risk analysis, have started. Stora Enso will continue to produce standard newsprint at Hylte, Langerbrugge and Sachsen mills. The closure of Hylte Mill PM3 will not impact Stora Enso’s newsprint product offering, and we will be able to serve our customers as today.

Featuring a converter friendly balance of high initial tack and low edge bleed, Mactac® announces the launch of a new durable labeling product line, LINTEC® Low-Ooze, High Adhesion Durable Labelstocks. The new LINTEC Low-Ooze, High Adhesion Durable Labelstocks feature a selection of durable film facestocks paired with LINTEC’s industry-proven PAT1 and automotive-approved P0066 aggressive acrylic adhesives. The labelstocks are intended for use in labeling durable goods, electronics, appliances, warning and instruction labeling, and automotive and medical labeling applications. With product features that are highly appealing to industry converters, Mactac’s LINTEC Low-Ooze, High Adhesion Durable Labelstocks offer cleaner on-press and thermal transfer print performance, as well as reduced risk of label pick-off. They are suitable for prolonged outdoor use and ensure very good resistance to chemicals, heat (durability up to 302-degrees Fahrenheit), and UV (ultraviolet) light. Additionally, the labelstocks are UL 969 recognized by Underwriters Laboratories for superior performance, label suitability, and compliance for displaying required safety information on UL Certified products, despite long-term exposure to a variety of environmental elements.

Lecta announces that it has reached an agreement for the acquisition of Avery Dennison Offset Sheets business in the Europe - Middle East - North Africa (EMENA) region. The transaction is subject to competition approval from the German Federal Cartel Office. Lecta taking over the manufacture and sale of Avery Dennison’s portfolio of FASSON™ and JAC™ branded self-adhesive papers and films in EMENA. Lecta will manufacture these under a special limited licensing agreement with Avery Dennison, keeping the FASSON™ and JAC™ brands available through the existing network of distributors.

Stora Enso is introducing its new eco-friendly take-away bowls for food service packaging, PureFiber™ by Stora Enso. The products are free from plastic and PFAS and are designed to help customers replace plastic on-the-go food packaging. The bowls are being brought to market together with the wholesale company Tingstad. The PureFiber™ product range will expand to other food and consumer goods applications. Stora Enso’s formed fiber products are designed for circularity, meaning that they are renewable, recyclable and biodegradable. The PureFiber™ product line enables a carbon footprint that is approximately 75% lower compared to alternative product materials such as plastic or bagasse. The unique formed fiber technology allows the products to be produced without plastic and PFAS, bringing a sustainable alternative with strong user-qualities to the market.

Norske Skog has announced to employees and stakeholders in New Zealand that due to the likely irreversible and rapid negative impact that COVID-19 has had on the newsprint industry in the region, the group has engaged in a broad process to identify alternative production options to reposition the Tasman newsprint mill at Kawerau industrial site in New Zealand. Norske Skog will perform a strategic review process for the Tasman newsprint mill, which is located at the Kawerau industrial site close to the east coast of the North Island. The mill has a total annual production capacity of 150,000 tonnes. Several options for the long term future of this industrial site are being considered.

On 30 July 2020 in connection to the announcement of Metsä Group’s January-June 2020 results it was estimated that the comparable operating result will weaken in the third quarter of 2020 from the EUR 96 million in the second quarter. Mainly due to better than expected profitability in paperboard and pulp businesses Metsä Group’s comparable operating result was in the third quarter of 2020 better than in the second quarter. Based on preliminary unaudited information the comparable operating result was approximately EUR 115 million in the third quarter of 2020. Metsä Group will publish the January-September 2020 interim report on 29 October 2020.

Cascades Inc. announces that it will progressively and permanently close tissue production and converting operations at its Ransom and Pittston plants, located in Pennsylvania, between December 7 and January 31st of 2021. The two paper machines at the Ransom plant have a total annual production capacity of 50,000 short tonnes of tissue paper. Currently, the conversion of this volume into 6 million cases of product occurs primarily at the Pittston plant. These volumes will be moved to other Cascades plants and filled with additional capacity. The two sites employ a total of 229 workers. "The aging equipment of these facilities, the low profitability, the high logistic costs and our recently announced investments in other production and converting units in the U.S. have prompted us to move production to our other sites to optimize operational efficiency." said Jean-David Tardif, President and Chief Operating Officer of Cascades Tissue Group.

Ahlstrom-Munksjö advances into the North American customized digital printing market, and launches Ahlstrom-Munksjö WallStar® Digital, its new portfolio of fiber-based solutions for digital printing applications. Demand for customized digital printing is growing, led by changing consumer demand, where personalization is extremely important. Digitally printed wallcoverings can be used to change a room quickly, whilst at the same time add impact through use of personalized designs. Environmental aspects are also of high importance, as consumers in North America become more aware of sustainability and the type of materials they wish to use. Consequently, digital printers are looking for PVC free media which allows printing in small, unique, personalized quantities. WallStar® Digital is a directly printable, PVC free, nonwoven portfolio from Ahlstrom-Munksjö, delivering benefits for both printers and end users.

UPM celebrated the official start of the construction of the state-of-the-art biochemicals facility in Leuna, Germany. The biorefinery investment of EUR 550 million is a major milestone in UPM’s strategic transformation. In Leuna, UPM will produce a range of 100% wood-based biochemicals that enable a switch from fossil-based products to sustainable alternatives in a number of end-uses such as plastics, textiles, cosmetics and industrial applications. Technology and process have been developed by UPM over the past ten years, mainly building on the company’s own innovation capabilities and selectively working with international partners. The biorefinery is expected to start up by the end of 2022.The investment has been awarded The Bio Act of the Year 2020 by the World BioEconomy Forum earlier in September this year.

WestRock Company announced that it plans to reduce its solid bleached sulphate (SBS) mill system production capacity by 200,000 tons by shutting down one paper machine at its Evadale, Texas, mill. This shutdown of the paper machine at the Evadale mill is expected to occur by the end of 2020 and reduce headcount at the mill by 60 employees. The remaining two machines at the Evadale mill will continue to support important end markets, including liquid packaging, foodservice, food and premium coated pre-print liner for corrugated boxes, among other grades. The company’s total SBS production capacity after this action will be approximately 1.9 million tons.

Neenah Introduces conVerd Board® Wipe Clean™ and DigiScape® FootPrint™ Safe and Sustainable Wide Format Solutions for Conducting Business During COVID-19 Neenah expands its wide format portfolio to address significant market demand for safe signage solutions by offering new, innovative solutions with conVerd Board® Wipe Clean™ and DigiScape® FootPrint™. conVerd Board has long been the choice of brands searching for a recyclable alternative for structural signage. Now, Neenah introduces state-of-the-art conVerd Board Wipe Clean, the only 100% paper-based, fully recyclable product on the market with a wipeable, printable surface. It cleans with soap and water, protects with disinfectants, or with a dilution of bleach and water, as suggested by CDC guidelines. Through it all, the printable surface of conVerd Board Wipe Clean remains unharmed and visually uncompromised.

As a result of the weakening world economic outlook as well as the COVID-19 related restrictive measures and their consequences, the uncertainty in UPM’s market environment continues. To ensure future competitiveness, UPM keeps taking action to decrease fixed and variable costs in its businesses and functions. UPM’s label materials business UPM Raflatac plans to simplify its organisation and increase efficiency in operations and distribution. If implemented, the plans would reduce approximately 100 positions in UPM Raflatac’s global organisation, mainly in Europe. In addition, UPM aims to increase efficiency of its global functions by reorganising and streamlining the functions’ operations in five countries. If implemented, the plans would decrease the number of positions in the functions by up to 70, mostly in Finland and in Germany.

Crown van Gelder will start selling paper made with sugar beet in January 2021. This makes the Dutch paper manufacturer the first in the world to produce 'sugar beet paper' at an industrial level. The new product line called 'Crown Native' uses less wood fibres to achieve a reduced impact on the environment of 16% compared to traditional paper. Crown Native was developed with the Dutch agricultural cooperative Royal Cosun as a strategic partner. The agricultural process residue from Cosun's production process, beet pulp, forms a valuable resource for the paper. With Crown Native, Crown Van Gelder has succeeded in creating paper made out of 20% beet pulp, thus achieving environmental gains in several areas. Due to the local sourcing, far less transport is required. As a result, Crown Native realises a significant reduction in CO2 emissions and particulate matter formation. Moreover, by using beet pulp, the production process requires less water. 'And because we're using a residual source, no additional agricultural land is needed,' Dronkers adds. A big advantage of using sugar beet pulp is that it is FDA compliant. 'The pulp is classified as a former food product,' Dronkers explains. As a result, Crown Native is approved and suitable for food packaging, unlike recycled paper for example. Dronkers: ‘This makes our sugar beet paper the ideal choice for product packaging, but also for shopping bags and promotional print. Crown Native is the perfect fit for brands with a sustainability ambition.’

Sofidel announced the formal opening of its second greenfield plant in the United States, signaling a significant expansion by the company in response to consumer demand. The 1.8 million-square-foot production plant is fully operational in Inola, Okla., leveraging one of the United States’ most recently built paper manufacturing facilities, equipped with state-of-the art technology. The $360 million technologically and environmentally advanced plant is Sofidel’s second greenfield investment in the U.S.. An integrated facility, with its paper mill that transforms pulp into paper and the converting plant that makes the finished product, it can turn out 120,000 tons of tissue annually.