American Forest & Paper Association Releases October 2017 Boxboard Report

Key Points: *Revenue of €2.7 billion *EBITDA of €487 million with an EBITDA margin of 18.0% *Continuing corrugated box volume growth as anticipated *Highly successful bond offering of US$2.75 billion *Smurfit WestRock integration planning progressing well

Leading European thermoforming packaging specialist Waddington® Europe, a division of Novolex®, has introduced an innovative recyclable tray for meat, fish and poultry products. The container, called Piranha™, is sealed using a series of raised teeth that run around the sealing flange instead of applying a layer of polyethylene or adhesive, which are typically used to seal the lid of modified atmosphere packaging (MAP). The raised teeth maintain the seal’s integrity even if the flange becomes contaminated by animal fat, which can interfere with closure on traditional packaging for meat, fish and poultry (MFP) products.

Metsä Board, part of Metsä Group, and Euroports have signed an agreement on 16 December 2021, according to which Metsä Board Corporation will sell the entire share capital of its fully owned subsidiary Oy Hangö Stevedoring Ab to Euroports Finland Oy. The transaction is expected to be completed in the first quarter of 2022. The parties have mutually agreed that the transaction price will not be disclosed. The gain on sale will be reported as an item affecting comparability and will not have a material impact on Metsä Board's key financials. Hangö Stevedoring is a port operator in the Port of Hanko and its business is not part of Metsä Board's core business. The company has approximately 180 employees and its sales in 2020 were approximately EUR 20 million.