Kruger Announces Newsprint/UGW price Increase

2022 was another strong year for Canfor, with the strength in global lumber market fundamentals experienced late in 2021 continuing well into the current year. Significant lumber demand led by solid activity in both new home construction and the repair and remodel segment, encountered tight supply due to supply chain disruptions. The result was ongoing global pricing pressure and high benchmark lumber prices through the first part of the year. As the year progressed, rising interest rates and inflation put significant downward pressure on housing affordability and global lumber market demand, leading to a rapid decline in global lumber market pricing in the latter part of the year. In response, the Company implemented reduced operating schedules at its Western Canadian operations. The Company’s strong earnings, however, reflect the continued benefit of its global diversification strategy which helped to moderate these challenges in British Columbia (“BC”).

ND Paper is implementing a series of transformations at its Rumford Division to further expand into packaging grades. In its current configuration, the fully integrated Rumford Division operates three paper production lines, kraft and mechanical pulping assets, and a pulp dryer; its product mix is heavily weighted toward bleached grades serving printing and writing (P&W) markets. With the COVID-19 pandemic battering economic activity across the world, demand for P&W papers has plummeted; coated woodfree and coated mechanical papers – primary Rumford grades – are expected to decline 23.5% and 30.3% year-over-year, respectively, equivalent to over 1.4 million tons of output. To ensure a viable, profitable future for the Rumford Division, ND Paper will be transforming the mill to increase its product flexibility and shift further into packaging grades. Notable changes include: *Commissioning of an unbleached recycled pulp line to provide fiber flexibility to the R12 and R15 paper machines *Conversion of its R15 paper machine from P&W papers into lightweight, high strength kraft linerboard products *Expansion of R12 paper machine capability to include unbleached recycled bag and converting papers, in addition to its current offering of bleached and unbleached papers *Continued operation of the R9 pulp dryer, including expansion into unbleached softwood kraft market pulp *Permanent curtailment of mechanical pulping operations and R15 coating and supercalender assets

Packaging Corporation of America (NYSE: PKG) today reported fourth quarter 2017 net income of $269 million, or $2.84 per share and $1.56 per share excluding special items. Fourth quarter net…