Orient Paper, Inc. Resumes Production

First Quarter of 2023 Highlights: *First quarter 2023 net loss from continuing operations was $20.2 million, compared to net loss of $25.9 million in the fourth quarter of 2022 on the same basis. Lumber prices dropped, reflecting economic headwinds and lower demand in Q1 2023, with an average selling price of $605/mfbm compared to $644/mfbm in Q4 2022. The Q1 2023 valuation provision for lumber and logs inventory was increased to $11.9 million from $8.7 million at the end of Q4 2022. *Sold its two Quebec mills for gross proceeds of $94.1 million, subject to working capital adjustments, at a $3.5 million loss on disposal. *Reducing overheads and operating costs while increasing production efficiencies. *Signed a non-binding letter of intent to sell approximately 30 of 118 acres of the land in Kenora. *The Company has significantly deleveraged its balance sheet by reducing its outstanding debt and is no longer subject to financial covenant ratios.

Ahlstrom-Munksjö establishes a partnership with Spanish sports and life style accessories company BUFF® to provide filter media for face masks. The BUFF® face masks are now available in the United States and Canada following a launch in Europe in June. Each BUFF® face mask includes five single-use filters in the original packaging. Replacement filters are sold separately in packs of 30 units.

UPM Specialty Papers joins CELAB-Europe to promote the development of a sustainable and circular business model in the self-adhesive label industry; the target is to ensure that 75% of the used liner and matrix materials in Europe are recycled in a circular fashion by 2025. “As part of our eco-design approach, UPM actively looks for innovative ways to recycle our products at the end of their life. UPM Specialty Papers is excited to support industry-level initiatives to promote circularity in the self-adhesive label business,” highlights Mikko Rissanen, Director, Technology at UPM Specialty Papers.