Solenis to Increase Prices on Wet Strength Product Lines Globally

As part of a settlement entered into by Verso with two Canadian producers of supercalendered papers, Verso today requested that the U.S. Department of Commerce revoke its order imposing duties on supercalendered papers made by those Canadian producers and imported into the U.S. The SC paper tariffs were intended to offset the impact of Canadian subsidies paid to Canadian producers of SC paper in order to help U.S. producers who were injured by the subsidized imports. However, injurious Canadian SC imports continue to enter the United States even with the tariffs, and imports from other non-U.S. SC producers which are not subject to the tariffs have increased. These factors offset the benefits of the tariffs to Verso. If the Department of Commerce grants Verso’s request to revoke the tariffs, it could provide Verso with a meaningful amount of cash over time, which we will evaluate how to use to best benefit our company and make us an even healthier supplier. However, there is no assurance that the Department of Commerce will grant our request to revoke the tariffs or that such funds will be provided to Verso. Be assured that we continue to make supercalendered paper at the Duluth Mill. Verso’s decision to settle the trade case is unrelated to any decisions about potential changes to Verso’s production assets at the Duluth Mill or to the types of products we make there.

The Group's comparable net sales growth was 5% with all segments making good progress. Comparable growth in emerging markets was 8%. In absolute terms growth was strongest in Eastern Europe, India, and Middle East and Africa. The Group's reported net sales declined and were EUR 725 million (EUR 739 million). The Group's reported earnings declined but in comparable currencies the Group's earnings improved slightly compared to the previous year. Foodservice Europe-Asia-Oceania segment's earnings increased significantly as a result of sales growth and operational efficiency. Fiber Packaging segment's earnings grew as well, while earnings in Flexible Packaging and North America segments declined. Click Read More below for additional information.

Kruger is pleased to announce that its affiliate Kruger Specialty Papers Holding L.P. today completed the acquisition of Domtar’s pulp mill in Kamloops, British Columbia. The Kamloops facility, which manufactures northern bleached softwood kraft pulp (NBSK) and unbleached softwood kraft pulp, will continue to operate as usual, honouring all existing volume commitments and agreements with customers and suppliers. The Mill’s 320 jobs will be maintained. In addition, Kruger intends to maintain ongoing initiatives to continue modernizing the Mill. This acquisition will also enable Kruger to secure the supply of high-quality pulp for some of its paper mills, including those in Quebec, where the Company is investing about $1 billion for the construction of two state-of-the-art tissue plants.