Restructurings

Specific proposals outlined in the letter include removing the Company's value destructive "poison pill," executing a modest stock buyback program, and conducting a non-deal equity roadshow to educate the institutional investment community on RRD's recent deleveraging and growth initiatives. As a longstanding, supportive shareholder of RRD, Chatham strongly recommends RRD undertake these actions to enhance value for all the Company's stakeholders.

Stora Enso will start co-determination negotiations with employees at its Kvarnsveden Mill in Sweden and Veitsiluoto Mill in Finland regarding a plan to permanently close down pulp and paper production at both mills. The planned closures would take place during the third quarter of 2021, and affect directly 670 people in Finland and 440 people in Sweden.

Kimberly-Clark will move more than 250 positions in sales, marketing and executive management from Wisconsin to a new commercial center in Chicago, the company said Wednesday.

UPM continues to take action to ensure the company's competitiveness. UPM aims to increase efficiency of its global functions by reorganising and streamlining the operations in Finland, Germany, and Austria. If implemented, the plans would decrease the number of employments in the functions by up to 51.

UPM Timber has completed the employee consultation process started in early February on its plans to improve profitability and strengthen competitiveness. Based on the negotiations, the number of positions at UPM Timber will decrease by 43.

Progress on West Fraser Timber's new lumber manufacturing complex in Dudley, Georgia remains on track with management's initial expectations. Substantial portions of the new mill are being commissioned and are ramping up, with the new site expected to be fully operational by the end of the 2Q 2021.

As previously announced, Spa Holdings 3 Oy has acquired through a public tender offer more than 90 per cent of all the issued and outstanding shares and votes in Ahlstrom-Munksjö.

Södra is forming the Innovation business area. The initiative will involve a stronger focus on new, profitable business, while the other business areas will gain more traction for the development of their existing operations. Catrin Gustavsson, who is currently Senior Vice President Innovation and New Business at Södra, is to become the new Business Area President.

Significant progress has been made at the former Madison Paper Industries mill under its new leadership.

Thursday February 25, at 7.07 am, SCA closed permanently paper machine LWC4 at Ortviken paper mill. With this, SCA's all production of publication paper has come to an end.

International Paper Company announced the election of Anton V. Vincent to its Board of Directors effective March 1, 2021.

Rengo Co., Ltd. enters into a memorandum of understanding with Taiko Paper Mfg., Ltd. (TPM) to consider supporting the business reconstruction of TPM. TPM filed an application to commence corporate reorganization proceedings in the Tokyo District Court, Japan.

SCA has decided to invest SEK 1.45 billion in the production of chemically pretreated thermomechanical pulp on the Ortviken industry site.

Effective immediately, Wade Brewer has been promoted to the position of Director of Manufacturing.

In order to better serve its customers and respond to future growth of the sector in Southeast Asia, the company is transferring its Malaysian manufacturing base from Penang to Port Klang, Selangor State, the capital region of Malaysia.

A longtime commercial printing company plans to close its eastside Spartanburg facility Feb. 18 and lay off 401 workers.

Georgia-Pacific announced that it will expand its Dixie to Go/PerfecTouch® cup manufacturing capacity at the Lexington, Kentucky, Dixie facility. This will allow GP to scale its efforts and create a single, world-class manufacturing facility for cupmaking.

Rayonier Advanced Materials Inc. announced changes to the management structure in its High Purity Cellulose segment and Pulp business. Dr. Christoph Koenig will assume responsibility for all High Purity Cellulose sales, while Tomas Fernandez will assume responsibility for marketing and customer service, sustainability, high yield pulp and lignin sales, research and development, and other strategic growth initiatives.

Cascades Inc. announced that its 86.3% owned subsidiary, Greenpac Mill, LLC ("Greenpac") has entered into an agreement to amend and restate its existing term loan and revolving credit facility that were scheduled to mature in May 2021. The amended credit facilities will mature in December 2023.

On December 16, the Board of Directors of Veritiv approved an expansion of the restructuring plan previously announced on July 9.

Amcor Flexibles North America will permanently close its Akron, Ohio-area label-making plant in March, consolidating its operations with a plant in New York and eliminating 108 jobs.

This is part of the ongoing strategic development process to transition the Tasman mill in New Zealand out of standard newprint production.

SCA is changing the name of its business area Paper to business area Containerboard as of January 1, 2021. Following the discontinuation of its publication paper operations during the first quarter, SCA's paper production will consist solely of packaging paper, a product with a stable and growing demand.

Arjowiggins is to cut just over 70 jobs at its Stoneywood Mill in Scotland as the business, which was rescued from administration last year, battles the fallout from Covid-19.

Cascades Inc. announced that its Laval plant in Québec, specializing in the manufacture of napkins for the away-from-home market, will be closing on June 30, 2021.