Port Hakwesbury Paper SC Price Announcement

Sappi Europe announces a price increase for all its Packaging and Speciality paper grades by 7 – 11 % valid for deliveries from 1 April 2021. Sharply rising input costs, particularly relevant to pulp and energy in combination with very high freight rates due to global logistic constraints make price increases unavoidable.

Paige Goff, Domtar’s vice president of sustainability, recently spoke to business leaders at an MX.0Southeast event focused on data-driven, resilient and sustainable manufacturing. She shared more about the comprehensive structure of Domtar’s ESG approach and outlook. When people talk about costs as a barrier to being more sustainable, Goff counters that it’s more expensive to do nothing. “There is an initial investment, but it pays off in the long run,” she says. “Our customers expect us to do the right thing and be responsible stewards of the environment. Our reputational risk is their reputational risk.” Similarly, she says, an effective ESG approach is important for recruiting and retaining talent. The E in ESG gets the most attention, with the emphasis on environmental responsibility and care for natural resources. It’s an area where Domtar has been a leader, particularly in forestry. But the G also plays a crucial role in our ESG approach. Governance is how we connect the dots from senior leadership to the frontlines of manufacturing, Goff says. Our ESG committee includes leaders from across the organization with a diverse collection of roles and responsibilities.

Jussi Pesonen, President and CEO, comments on the Q2 results: “UPM delivered a very good second quarter, and rapid recovery of our earnings continued. In the exceptional economic environment, demand for UPM’s products was strong, and overall, our price increases more than offset rising input costs. At the same time, our transformative growth projects continued on schedule and on budget, and we are in an excellent position going forwards. Our Q2 sales increased by 15% to EUR 2,384 million, and comparable EBIT was up by 51% rising to EUR 307 million from the lockdown affected Q2 of last year. Operating cash flow increased to EUR 308 million. Net debt at the end of June was EUR 750 million, and our financial position remains strong with EUR 2.5 billion in cash funds and unused committed credit facilities. The most notable improvement was seen in UPM Biorefining, where pulp and sawn timber prices soared, and the business area made its best second quarter ever. Result was held back by the scheduled maintenance shutdown at the Fray Bentos pulp mill in Uruguay, and a shutdown due to a fire at the Lappeenranta biorefinery in Finland."