Lecta Increases Prices of Thermal Papers by 10 to 12%

Kenneth Nystén has a solid background in the pulp and paper industry, from various positions in companies such as Stora Enso and Metsä-Serla. He comes most recently from the Finnish chemicals company Kemira Oy. Kenneth Nystén was born 1958 in Espoo, Finland. He holds a Bachelor degree in Economics from Uppsala University and an MBA from Seton Hall University in the U.S. “Kenneth is a driven business manager with a broad experience from leading positions within our industry, in particular the paperboard industry. His proven ability to create strong results and motivated sales teams, will be of great importance as we move forward and further develop our paperboard business” says Daniel Peltonen, President and CEO at Iggesund Paperboard. Click Read More below for additional information.

Norske Skog has so far received support from a clear majority of both the secured and the unsecured noteholders for the proposed recapitalization solution. Norske Skog has now likely surpassed the thresholds required to implement the transaction by way of Schemes of Arrangement. However, the transaction is also contingent upon support from the majority holder of the EUR 100 million NSF and the 2115 Perpetual Notes. The consent solicitation deadline is extended until Friday 3 November at 17:00 CET to allow sufficient time to allow for further discussions with the holders of NSF and Perpetual Notes. Click Read More below for additional information.

Resolute Forest Products Inc. reported net income of $268 million for the quarter ended June 30, compared to net income of $6 million in the same period in 2020. Sales were $1,140 million in the quarter, an increase of $528 million from the year-ago period. Excluding special items, the company reported net income of $300 million, or $3.74 per diluted share, compared to a net loss of $22 million, or $0.25 per share, in the second quarter of 2020. The company reported operating income of $406 million in the second quarter, compared to operating income of $6 million in the second quarter of 2020. The improvement reflects higher selling prices ($500 million) in the wood products, pulp and paper segments, offset by the stronger Canadian dollar ($39 million), higher fiber costs ($27 million), and maintenance ($14 million). At $445 million, adjusted EBITDA in the second quarter was $408 million higher than the second quarter of 2020.