Verso Lifts Temporary Order Moratorium

Solenis, a leading global producer of specialty chemicals, will increase prices by 5 to 15 percent on all water treatment, process and pulp & paper product lines across the EMEA region, effective immediately or as customer contracts allow. The price increase is necessary due to the tightening of raw material supply globally and escalating energy, packaging and transportation costs.

According to the report, total printing-writing paper shipments increased 10 percent in June compared to June 2020. U.S. purchases of total printing-writing papers increased 16 percent in June compared to the same month last year. Total printing-writing paper inventory levels decreased four percent when compared to May 2021. U.S. purchases of uncoated free sheet (UFS) papers in June increased 16 percent compared to last June while the inventory level decreased three percent compared to May 2021. UFS imports decreased five percent while exports increased 33 percent in May 2021. Coated free sheet (CFS) paper shipments decreased four percent compared to June 2020 while the inventory level decreased six percent compared to May 2021. CFS imports decreased six percent while exports increased 58 percent in May 2021. U.S. purchases of coated mechanical (CM) papers in June increased 41 percent compared to last June while the inventory level decreased three percent compared to May 2021. CM imports and exports both increased compared to May 2020, up 29 percent and 41 percent respectively. Uncoated mechanical (UM) paper shipments decreased nine percent compared to June 2020 while the inventory level decreased five percent compared to May 2021. UM imports and exports both increased compared to May 2020, up 26 percent and 52 percent respectively.

Rayonier Advanced Materials Inc. reported a net loss of $23 million or $(0.36) per diluted share for the quarter ended June 25, 2022, compared to net income of $122 million or $1.89 per diluted share for the same prior year quarter. The net loss from continuing operations for the quarter ended June 25, 2022, was $25 million or $(0.39) per diluted share, compared to net income from continuing operations of $8 million or $0.13 per diluted share for the same prior year quarter. Net income from continuing operations in the prior year quarter included a $25 million tax benefit resulting from remeasuring the Company’s Canadian deferred tax assets at a higher tax rate following the announcement of the disposal. Unless otherwise stated, information in this press release relates to continuing operations.