Major Expenditures

Resolute Forest Products Inc. breaks ground on construction of new planer mill adjacent to Senneterre sawmill in Quebec, Canada. The planer, expected to be functional by the end of this year, will optimize fiber supply, enhance overall efficiency of the sawmill and reduce production costs for Abitibi regional operations.

"We're honored to have Governor John Bel Edwards here with us today," said Anthony Pratt, Executive Chairman of Pratt Industries. "His economic leadership of Louisiana is characteristic of the reason that Pratt Industries has invested $250 million in the great state of Louisiana."

Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart McWhorter and Georgia-Pacific officials announced the company will invest at least $425 million to construct a state-of-the-art Dixie® manufacturing facility in Jackson.

Sappi Europe will be making a significant long-term investment to further strengthen its label paper business. As of the end of 2023, production capacities for label papers will be extended at the Gratkorn mill in Austria. The double-digit million-euro investment in technological innovations, such as a new embossing calendar, will enable the modern paper mill to produce high quality wet-strength wet-glue label paper.

Mondi, a global leader in packaging and paper, is investing around €5 million in a new research and development (R&D) facility at Mondi Steinfeld, in Germany. This investment will support customers by helping them to develop solutions that achieve their sustainability goals.

With a major investment of EUR 40 million in a now operational production asset, Ahlstrom-Munksjö cements its market position, upgrading its production platform in its well-established Beverage & Casing business.

Gov. John Bel Edwards announced the start of construction Wednesday on a $97 million project to expand and modernize the WestRock Company paper mill, a major employer and driver of economic activity in Jackson Parish since it began operations in 1928.

The recent start of operations at European textile giant Lenzing's recent opening of the world's largest production plant for the eco-friendly fiber lyocell exemplifies Thailand's status as a hub for green and sustainable investments, according to an article published on the Thailand Board of Investment (BOI) website.

Georgia-Pacific is making a significant investment of more than $20 million at its plant in Lebanon, Tennessee. Its existing corrugator will be replaced with a new one to provide the plant with more throughput and provide customers with a better-quality product.

Governor Gretchen Whitmer joined the Michigan Economic Development Corporation (MEDC) to announce that global building products manufacturer LP Building Solutions is expanding its operations in Sagola Township with support from the Michigan Strategic Fund (MSF). The company's $194 million investment is one of the largest projects ever supported by the MSF in the Upper Peninsula.

Cascades Inc. said the cost of its Bear Island conversion project has increased amid higher labor costs and reduced availability of materials.

Governor Henry McMaster and the S.C. Department of Commerce announced that Greif, a global leader in industrial packaging products and services, plans to expand existing operations in Greenville County, S.C. The company is investing $13 million over the next five years.

Ahlstrom-Munksjö is investing in new technology and converting its existing boilers at its Mosinee and Rhinelander plants in Wisconsin, United States, to reduce its carbon emissions and landfill waste.

Georgia-Pacific plans to expand operations in Clarendon County, South Carolina. The company is investing approximately $40 million into the project.

Construction on the plant is projected to begin in 2023.

Startup of the facility is anticipated in the third quarter of 2024.

The new unit, called Figueroa, will be built in the city of Piracicaba and will have an annual production capacity of 240,000 tons of corrugated boxes, Klabin said in a securities filing.

The complex will include a new paper machine using through-air-dried technology, as well as associated converting equipment, buildings and infrastructure.

Mondi, a global leader in packaging and paper, is investing nearly €65 million in three Consumer Flexibles packaging plants in Europe in order to meet growing customer demand for sustainable pet food packaging solutions.

CellMark has partnered with the company Total Fiber Recovery (TFR) to construct an $80 million recycled pulp production facility in the city of Chesapeake, Virginia.

The facility, scheduled to be operational by the third quarter of 2023, will bring more than 60 new jobs to the area.

Western Forest Products Inc. announced capital investments totaling approximately $29 million towards its British Columbia (B.C.) operations in Canada. These capital investments represent an increase of $13 million over and above the $16 million of capital investments discussed in the Company's 1Q 2022 Management's Discussion and Analysis.

Smurfit Kappa has completed a large-scale sustainability project at its Zülpich paper mill in Germany, which significantly reduces the plant's CO2 emissions. The Euro11.5 million investment included a major redesign of the plant's multi-fuel boiler to provide a more sustainable fuel source for the generation of steam and electricity.

CellMark Recycling will supply 300,000 tons of mixed paper and Old Corrugated Containers (OCC) annually as feedstock to the facility. All Recycled Brown Pulp produced will be sold exclusively by CellMark Pulp.

Progroup is building a new corrugated sheetfeeder plant in south-west Germany, between the Palatinate villages of Petersberg and Höheischweiler. The company is investing more than Euro 90 million in the new building and is thus continuing to pursue its growth strategy. Production is set to begin in the second half of 2023.