Kruger Announces Newsprint Price Increases

Ahlstrom FiltEV® Fuel Cell Air Intake filter media has won the Product of the Year award in Filter Media category by Waterloo Filtration Institute (WFI) on December 6th, 2022. This award promotes product development in the filtration and separation industry for a clean, healthy, and sustainable world and it was announced during the WFI 2022 Annual Conference. The purity of the cathode air intake is an essential parameter in the performance and the reliability of Fuel Cell Electric Vehicles. By removing the finest particles and harmful gases Ahlstrom FiltEV® Fuel Cell Air Intake media protects the catalyst and the membrane and extends the fuel cell lifetime. Our proprietary technology platform, designed for high basis weight adsorbent media, delivers flexibility, outstanding performance and optimal processability to fulfill the most challenging requirements from the industry.

The quarter-on-quarter improvement in Group EBITDA and overall return to profit of US$18 million was driven by strong dissolving pulp (‘DP’) prices and an excellent performance from the packaging and specialities segment. These gains were partially offset by ongoing global logistical challenges which impacted export deliveries and costs in all three regions and lower margins in Europe due to significant input cost inflation. Higher selling prices facilitated a substantial increase in EBITDA for the DP segment and sentiment generally remained buoyant on the back of steadily improving retail demand in the apparel sector. The average Chinese market price for hardwood DP increased 19% on the prior quarter to US$1,088 per ton. The EBITDA in the packaging and specialities segment reached a new record high and contributed almost half of the group EBITDA. Sales volumes increased by 23% compared to the equivalent quarter in the prior year and validate the strategic actions taken to reduce exposure to graphic paper through diversification into this segment.

Neenah Paper, Inc. announced that it had completed the previously announced purchase of the outstanding equity of W.A. Sanders Coldenhove Holding B.V. Coldenhove is a specialty materials manufacturer based in the Netherlands, with a leading position in digital transfer media and other technical products. Upon closing, the Company made a cash payment of approximately $45 million. The payment was financed through almost $14 million of available cash on hand, with the balance from incremental borrowing against the Company's existing global revolving credit facility. Interest rates on the additional short term debt were under two percent.