Felix Schoeller Group: Energy surcharge as of December 1, 2021

UPM is studying biofuels development opportunities by starting an environmental impact assessment (EIA) for a possible biorefinery in Mussalo, Kotka, in south-eastern Finland. The study of a possible Kotka Biorefinery…

Canfor Corporation is excited to announce it will invest approximately $160 million USD to build a new, state-of-the-art sawmill near DeRidder, Louisiana. The Company is pleased to be receiving significant state and local incentives in support of the project. The facility will have an annual production capacity of 250 million board feet on a two-shift basis and will directly employ about 130 people plus create significant additional indirect jobs. The Louisiana facility will have manufacturing capacity and flexibility to produce a wide variety of highvalue wood products for our customers. Startup is expected to commence late in the third quarter of 2022. The investment in Louisiana is in addition to the approximately $300 million of 2021 capital spending, including about $200 million for the solid wood and pulp operations in Western Canada and $100 million for the solid wood operations in the U.S. South.

The more challenging macroeconomic scenario and market pulp fundamentals pressured the revenues during the quarter. The decline in pulp prices and sales volumes in relation to the previous quarter resulted in lower adjusted EBITDA from the segment compared to 4Q22. The paper business unit registered EBITDA per ton growth, driven by better prices despite lower sales volume associated with a strategy to recompose inventories. Consequently, adjusted EBITDA in the quarter came to R$6.2 billion, down 25% from 4Q22, and 20% higher than in 1Q22.