Suzano and Kimberly-Clark Announce $3.4 Billion Joint Venture Partnership

Metsä Board, part of Metsä Group, announced on 1 December 2020 that it had signed an agreement to sell a 30 percent stake in its Husum pulp mill in Sweden to the Swedish forest owners' cooperative Norra Skog. The transaction was completed on 4 January 2021, and its impacts will be included in Metsä Board's financial reporting as of the January–March 2021 interim report.

*Net sales of $496 million, down 6% from the first quarter of last year *Net income of $17 million, or $1.02 per diluted share, down $7 million from the first quarter of last year *Reduced net debt by $33 million, repurchased $1 million of outstanding shares with $6 million remaining under program. “Despite the significant weather event that impacted the quarter, we delivered solid results that came in at the higher end of our expectations through strong operational execution,” said Arsen Kitch, president and chief executive officer. “Our Lewiston team did a tremendous job repairing damaged equipment under very difficult conditions and resuming operations."

The Board of the Paper Workers’ Union has confirmed the negotiated results of the collective labour agreements for the Finnish mills and biorefinery of UPM Pulp, UPM Communication Papers, UPM Specialty Papers, UPM Raflatac and UPM Biofuels. An agreement was reached earlier today in the last open negotiations at UPM Specialty Papers. The new collective labour agreements will have a two-year contract period and will enter into force immediately. The agreed wage increases in the collective agreements will take effect from 1 July 2024. "We are pleased that, after long and thorough negotiations, we have reached five agreements where we have jointly developed the content of the agreements to meet the needs of each business," says Riitta Savonlahti, Executive Vice President, HR at UPM.