Evergreen Packaging Announces Price Increase on Coated Papers

Appvion Operations, Inc., announces the first of a comprehensive line of Sustainable Packaging Papers under the MISSION ZERO™ brand with the introduction of recyclable hot and cold beverage grades. • Water-based, dispersible, barrier coating • Manufactured without plastic film • Recyclable and repulpable • Broad basis weight and caliper range for cup sidewall and bottom • Works with all standard converting equipment • Excellent Heat Seal and Printing Surface • Manufactured in FDA cGMP certified facility. “MISSION ZERO hot and cold cup products encourage the transformation, innovation, and optimization in the paper and packaging value chain, a closed loop system, and circular economy by addressing the environmental concerns related to the life cycle of current plastic-coated cups.” said James Taylor, Director, Business Development- Packaging and Specialty Coatings

• Commerce has calculated a preliminary subsidy rate of 6.09 percent for mandatory respondent Catalyst Paper Corporation (Catalyst), 9.93 percent for mandatory respondent Kruger Trois-Rivieres L.P. (Kruger), 4.42 percent for mandatory respondent Resolute FP Canada Inc. (Resolute) and 0.65 percent for voluntary respondent White Birch Paper Canada Company NSULC (White Birch). All other producers/exporters in Canada have been assigned a preliminary subsidy rate of 6.53 percent. • As a result of the preliminary affirmative determination, Commerce will instruct U.S. Customs and Border Protection (CBP) to require cash deposits based on these preliminary rates. • The merchandise covered by this investigation is certain paper that has not been coated on either side and with 50 percent or more of the cellulose fiber content consisting of groundwood pulp, including groundwood pulp made from recycled paper, weighing not more than 90 grams per square meter. Groundwood pulp includes all forms of pulp produced from a mechanical pulping process, such as thermo-mechanical process (TMP), chemi-thermo mechanical process (CTMP), bleached chemi-thermo mechanical process (BCTMP) or any other mechanical pulping process. The scope includes paper shipped in any form, including but not limited to both rolls and sheets. Certain uncoated groundwood paper includes but is not limited to standard newsprint, high bright newsprint, book publishing, directory, and printing and writing papers. The scope includes paper that is white, off-white, cream, or colored. Click Read More below for additional information.

*BillerudKorsnäs has entered into an agreement to acquire Verso for a purchase price of approximately USD 825 million in cash, corresponding to USD 27.00 per share. *Verso is a leading producer of coated papers in North America with reported net sales for the last twelve months ended 30 September 2021 of USD 1 264 million and adjusted EBITDA of USD 158 million. *The purchase price corresponds to an enterprise value / adjusted EBITDA multiple of approximately 6x for the last twelve months ended 30 September 2021. The acquisition will immediately be accretive to earnings per share and create significant shareholder value over time with a more profitable product mix. *BillerudKorsnäs will build one of the most cost-efficient and sustainable paperboard platforms in North America by converting some of Verso’s assets into paperboard machines with an estimated capex of up to SEK 9 billion. *The acquisition and transformation will be financed through a combination of a rights issue of up to SEK 3.5 billion, additional debt and operating cash flow. *The acquisition is expected to close in the second quarter of 2022, subject to the approval of Verso’s shareholders as well as the receipt of applicable regulatory approvals and satisfaction of other customary closing conditions.