Sylvamo Completes Sale of Russian Operations

Genera, a US manufacturer of domestically sourced and produced ag-based pulp and molded fiber products, has named Timothy Watkins and Tyler Winston to two top engineering positions at the company's East Tennessee facility. The announcement marks continued progress toward full production of Genera's innovative Earthable® line of sustainable, ag-based fiber products later in 2020. Genera will manufacture molded fiber food service products like plates, bowls, and takeout containers. These products will be fully biodegradable and compostable.

Third Quarter 2022 Financial Highlights: *Produced revenue of $895 million, an increase of 3% compared to the prior year, driven by higher TiO2, zircon and pig iron prices and higher pig iron volumes *Generated income from operations of $163 million and net income of $123 million *Delivered Adjusted EBITDA of $247 million and an Adjusted EBITDA margin of 27.6% *Invested $112 million in capital expenditures, primarily in our vertical integration and newTRON initiatives *Generated free cash flow of $25 million in the quarter *Returned $110 million to shareholders in the nine months ending September 30, 2022 in the form of share repurchases and dividends

Stora Enso has started a feasibility study and an environmental impact assessment (EIA) for a possible investment in Oulu. The feasibility study and the EIA evaluate a potential conversion of the Oulu paper mill into packaging board production. The feasibility study is expected to be concluded by the end of 2018, and the EIA process is expected to take a minimum of 6 months. Currently, Oulu Mill has a production capacity of 360 000 tons of chemical softwood pulp and 1 080 000 tons of woodfree coated papers on two paper machines. The potential investment would include a new chemi-thermomechanical pulp (CTMP) plant, a brown-based cartonboard line with a capacity of 450 000 t/a and a kraftliner line with a capacity of 400 000 t/a. The potential conversion of Oulu Mill would enable Stora Enso to further improve its position in the growing consumer board and packaging solutions businesses and take a major step in its transformation. The other option is to continue the current fine paper production. Click Read More below for additional information.