Glatfelter reported first quarter of 2018 net income of $5.7 million, or $0.13 per diluted share compared with $11.6 million, or $0.26 per diluted share in the first quarter of 2017. Adjusted earnings for the first quarter of 2018 were $8.6 million, or $0.19 per diluted share compared with $17.2 million, or $0.39 per diluted share for the same period a year ago. Consolidated net sales totaled $410.6 million and $390.7 million for the three months ended March 31, 2018 and 2017, respectively. Foreign currency translation favorably impacted the year-over-year comparison by $21.8 million. On a constant currency basis, Composite Fibers’ net sales were essentially flat and Advanced Airlaid Materials’ increased by 7.8%. Specialty Papers’ net sales declined 3.1% in the year-over-year comparison. Click Read More below for additional information.
Production at UPM sawmills is now running completely on renewable energy. Since the beginning of 2020, no fossil energy sources have been used in production at any of the company’s four sawmills.
Fossil-free production enables UPM to produce even more sustainable timber products with the smallest possible carbon footprint, thereby contributing to climate change mitigation. The reduced carbon footprint of UPM’s timber products also helps our customers reach their respective emission reduction targets.
“We at UPM have set the ambitious target of achieving a 65% reduction in the CO2 emissions of fuels and purchased energy at our production facilities by 2030. This target is part of the UN Business Ambition for 1.5°C that we signed in January 2020, under which we are committed to taking concrete action to limit climate warming to 1.5°C. UPM Timber has now clearly surpassed this target,” says Sami Lundgren, Vice President, Responsibility at UPM.
UPM has systematically worked to achieve a transition to fossil-free production at its sawmills. Both thermal energy and electricity are used at all UPM sawmills. The Korkeakoski sawmill produces thermal energy from bark and wood chips at its own bio-heating plant. The Seikku sawmill in turn uses renewable energy produced from its own sidestreams by the Pori Energia power plant. At the sawmills located in the Pietarsaari and Lappeenranta mill integrates, we only use renewable energy produced onsite at the pulp mills. The purchased energy needed in production is emission-free and verified by a Guarantee of Origin (GO) granted by Fingrid Oyj. A GO is granted for Finnish electricity produced exclusively from renewable sources.
“The transition to fossil-free production at UPM sawmills is a significant step towards carbon neutrality. Paired with our sustainable forest management and innovative product development, our ambitious emissions reductions will make us and our customers sustainability frontrunners,” Lundgren concludes.