Market News of Note

Glatfelter Corporation, a leading global supplier of engineered materials, today announced that the Board of Directors has suspended the Company's quarterly cash dividend as part of its focused efforts to optimize the operational and financial results of the business.

The Lenzing Group, the world's leading supplier of wood-based specialty fibers for the textile and nonwovens industries, suspended its guidance for the development of earnings in the 2022 financial year in view of the drastic deterioration of the market environment in the current quarter. The further course of the 2022 financial year can only be estimated to a limited extent due to the extremely low visibility on the demand side and the high volatility of energy and raw material costs.

Mercer International Inc. has successfully entered into a new Euro 300 million revolving credit facility for its German subsidiaries with a syndicate of European banks (the "New Facility"). The New Facility has a five year term, is unsecured and accrues interest at a rate of Euribor plus a stipulated margin.

The Offer will expire at 11:59 p.m., New York City time, on October 7, 2022 unless extended.

Hygiene and health company Essity is being affected by additional cost increases. Prices for electricity and gas have risen sharply in Europe since July 2022. Costs for the company's raw materials have also risen significantly in the third quarter. Essity is therefore announcing new comprehensive price increases for all product categories and markets.

Rising energy prices have led to Finnish paper firm Metsä Tissue cutting back on production levels in recent weeks, the company said in a statement. This curtailment could affect the availability of tissue paper products, such as toilet paper, the press release noted, with further halts on the production line likely.

Sonoco-Alcore S.a.r.l. announces that due to continued inflationary pressure on the business it will raise prices by 70EUR/ton or 60 GBP/ton for the UK on all tube and core grades sold in the Company's EMEA regions. The increase is in direct response to the continued escalation of its cost base and will be effective for all shipments made on or after September 1, 2022.

Sonoco-Alcore S.a.r.l. announces that due to the continued escalation in the cost of European energy it will raise prices by €70 per tonne on all recycled paperboard grades sold in the Company's EMEA regions effective for shipments made on or after the 1st September 2022.

Yes, this is in addition to previously communicated increases.

Europe's largest paper packaging producer, Smurfit Kappa, expects a shortage of paper on the continent if gas rationing impacts production in the coming months, its chief executive said.

On June 28th, NOREXECO, the world's only international regulated market for trading pulp and paper derivatives, explained to North American buyers and sellers of pulp how they could mitigate pricing risk for market pulp using exchange traded contracts.

IT Tech Packaging, Inc., a leading manufacturer and distributor of diversified paper products in North China, announced that, its Board of Directors has approved a reverse stock split of its common stock, par value $0.001 per share (the "Common Stock") at a ratio of 1-for-10 (the "Reverse Stock Split").

The Letter stated that because the Company's common stock had been trading for a low price per share for a substantial period of time, the Company was not in compliance with Section 1003(f)(v) of the Company Guide.

Quad/Graphics, Inc., a global marketing experience company, announced that it has been added as a member of the U.S. small-cap Russell 2000 ® Index pertaining to the 2022 Russell indexes reconstitution, effective June 27, 2022.

Sonoco expects operating results to be significantly better than previously projected due to sustained customer demand particularly in its Consumer Packaging and All Other segments, as well as continued strong performance in price recovery.

Strong market conditions have continued in all UPM businesses.

Stora Enso estimates that the previous full year 2022 operational EBIT guidance will be exceeded. Hence, the Company changes its full year 2022 operational EBIT guidance to be higher than the full-year 2021 of EUR 1,528 million. The previous guidance for the full year 2022 was an operational EBIT to be approximately in line with the full year 2021.

Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed and screen inks, coatings, consumables and adhesives in North America, effective immediately or as contracts allow.

Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed, and screen inks, coatings, consumables, and adhesives in Europe, Middle East, Africa, effective June 1st 2022 or as contracts allow.

The board also authorized a share repurchase program to acquire up to $150 million of the company's common stock.

Rayonier Inc. announced that its board of directors has approved a 5.6% increase in its quarterly cash dividend to $0.285 per common share from $0.27 per common share. The dividend is payable on June 30, 2022, to shareholders of record on June 16, 2022.

Packaging Corporation of America announced that it intends to increase the quarterly cash dividend on its common stock to an annual payout of $5.00 per share from $4.00 per share, a 25% increase.

Sonoco will raise the price for all paperboard tubes and cores by a minimum of 6%, effective with shipments in the United States and Canada on or after June 10, 2022.

Greif, Inc., a global leader in industrial packaging products and services, announced that it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB).

Sonoco announced it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning May 30, 2022.