Restructurings

Following the announcement released on 29 January 2020, the Lecta Group (as defined below) is pleased to announce the completion of a comprehensive recapitalisation transaction (the "Recapitalisation"), as initially announced on 24 September 2019.

Arup Basu has been the Managing Director for Huhtamaki's Flexible Packaging business in India since 2017.

Citing a drop in publisher demand for print publication titles and significant structural changes impacting the industry, Chicago-based LSC Communications filed a Form 8-K with the Securities & Exchange Commission (SEC) on Jan. 14 announcing it will close its manufacturing facilities in Strasburg, Va.; Glasgow, Ky.; and Mattoon, Ill.

Leaders of Verso are asking shareholders to ward off what it calls a proxy contest by approving its slate of board nominations.

"We urge Verso Stockholders to not be fooled by the deceptive practices employed by Lapetus, Atlas and Blue Wolf to confuse you and to deflect attention from their ultimate objective - to control the Company without paying for it."

Atlas and Blue Wolf have also sent a letter to stockholders outlining their significant concerns regarding the business performance and governance of Verso and why they believe the election of their three highly-qualified nominees to the Board of Directors of Verso (the "Board") is necessary to ensure that the Company is run in the best interests of all stockholders.

Fortress Global Enterprises Inc. announces that its senior secured lenders have filed an application with the Superior Court of Québec to commence restructuring proceedings in respect of the Company and certain of its material subsidiaries under the Companies' Creditors Arrangement Act ("CCAA"). Deloitte Restructuring Inc. (the "Monitor") is proposed to be appointed as monitor. Details of the CCAA filing and related matters will soon be available on the Monitor's website.

Verso Corporation announced that it has filed definitive proxy materials with the U.S. Securities and Exchange Commission ("SEC") in connection the Company's upcoming 2019 Annual Meeting of Stockholders (the "Annual Meeting"), scheduled for January 31, 2020.

Rayonier Advanced Materials Inc. announced that the Company plans to re-submit two management proposals to the Company's stockholders for a vote at its next Annual Stockholder Meeting in 2020.

The Board of Directors of BillerudKorsnäs AB has appointed the current Chairman of the Board, Lennart Holm, as acting CEO from November 5, 2019. Petra Einarsson leaves as CEO with immediate effect.

Major changes are coming to Appvion's Spring Mill.

"After careful review of the current state of the facility, the company determined that its napkin and towel business should be produced at other GP facilities, including other facilities in Green Bay," the company wrote in a letter to state workforce development officials.

They will be exiting the following segments of their specialty business: • Pressure Sensitive • Embedded Cards • Dimensional Items • Magnets

Stora Enso plans to make organizational changes in the Paper division following the Oulu Mill conversion at the end of 2020. The planned changes could result in a reduction of a maximum of 135 employees in the Paper division.

These measures will result in capacity reduction of containerboard paper (corrugating medium) of approximately 163,000 t/year.

Resolute Forest Products said it spent almost $35 million to maintain its Fort Frances mill in a "hot idle" state after it was shut down in 2014.

WestRock Company announced Monday that it is reconfiguring its North Charleston, SC, paper mill to improve the mill's operating efficiency and long-term competitiveness.

After more than a year of mulling their options, the owners of the defunct mill property in Newberg have renewed their plans to sell the site.

As of Jan. 1, 2020, the Company will be known as UFP Industries, Inc.

The small community of Fort St. James, B.C., has declared a state of local financial crisis in the wake of the closure and recent sale of its largest sawmill.

More than 200 staff at the facility, which produces Huggies nappies, were told they would lose their jobs earlier this year.

Packaging and paper group Mondi said it had completed the simplification of its dual-listed structure into a single holding company after terminating arrangements between Mondi and Mondi Limited.

As part of the merger, West-Rock "centralized" its supply chain functions to its corporate office in Atlanta, WestRock spokesman John Pensec said. The Longview mill had its own on-site supply chain function, Pensec said.

Rayonier Advanced Materials announced that it is repositioning key members of its senior management team to drive the company's Go-to-Market strategy and accelerate new product commercialization.

Stora Enso plans to consolidate the Finnish spruce (whitewood) production to Varkaus sawmill. The plan includes a permanent closure of Kitee sawmill and production increase to Varkaus.