International Paper Completes the Sale of Its Brazilian Corrugated Packaging Business

A plastic-reducing alternative to potato packaging has been introduced by Finnish Tuorekartano Oy when it recently launched its special potatoes in paperboard packaging. Tuorekartano Oy's premium quality La Ratte potatoes will now be packed in easily recyclable and biodegradable packaging made of a lightweight and durable paperboard produced by Metsä Board, part of Metsä Group. The paperboard is ideally suited to protect the potatoes from damage and sunlight. The small package size will also help to reduce food waste. "Tuorekartano is a company committed to Agenda 2030 and Commitment 2050 and has set itself clear sustainability targets. Plastic-free packaging, such as La Ratte cartons, is part of these goals. We have already reduced the amount of plastic in our packaging materials by 25%," says Kari Kastari, CEO of Tuorekartano Oy. The packaging is made of lightweight MetsäBoard Prime FBB EB paperboard, which is made from pure fresh fibres and is suitable for direct contact with food. The dispersion coating of the board improves the moisture and grease resistance of the board, and the packaging can be easily recycled and is also suitable for home composting.

2021 FOURTH QUARTER HIGHLIGHTS *Delivered solid performance due to continued strength in the paperboard business *Managed through increased COVID related absences, supply chain disruptions and weather impacts *Achieved net income of $10 million, or $0.56 per diluted share and Adjusted EBITDA of $56 million *Net sales of $490 million, up 8% compared to the fourth quarter of 2020 *Net debt reduction of $37 million. 2021 FULL YEAR HIGHLIGHTS *Delivered strong performance due to robust demand for paperboard products and solid operational execution *Net loss of $28 million, which includes an after-tax loss of $38 million associated with the closure of Neenah, Wisconsin tissue facility *Net sales of $1.8 billion *Net debt reduction of $69 million

Intertape Polymer Group Inc. announced a new five-year $600 million credit facility pursuant to a credit agreement with a syndicated lending group led by Bank of America, N.A., as Administrative Agent, Sole Lead Arranger, and Sole Bookrunner, refinancing and replacing the Company's previous $450 million credit facility that was due to mature in November 2019. All dollar amounts are denominated in US dollars unless otherwise indicated. “We have made significant operational progress and improved our financial position since the execution of our previous credit facility in 2014. The new Credit Facility will provide us with increased capacity, better terms and more flexibility to execute the next phase of our growth strategy,” said Greg Yull, President and CEO of Intertape Polymer Group. Click Read More below for additional information.