Special Meeting of Verso Stockholders to Approve Merger Scheduled for March 11, 2022

Verso Recommends All Stockholders Vote "FOR" ALL Proposals at the Special Meeting

Verso Corporation (NYSE: VRS) ("Verso") today announced the filing of a definitive proxy statement for a special meeting of stockholders, at which Verso stockholders will consider and vote upon various items related to the proposed and previously announced transaction with BillerudKorsnäs AB ("BillerudKorsnäs").

If approved, all Verso stockholders will receive $27.00 per share in cash upon closing of the transaction, representing immediate and certain value at a significant premium. The consideration corresponds to a premium of approximately 57% compared to the unaffected closing price of Verso's shares on July 9, 2021, the day prior to the submission of an unsolicited, non-binding proposal to acquire Verso for $20.00 per share in cash, and a 35% premium over that unsolicited proposal.

As outlined in the definitive proxy and previously announced, this agreement follows careful consideration and multiple rounds of negotiation led by the Special Committee of our Board which was formed following receipt of the unsolicited proposal. The Board and the Special Committee determined that the BillerudKorsnäs offer was clearly superior to any alternative transaction or the risk-adjusted value that could reasonably be achieved through continued execution of Verso's standalone plan and is confident that the proposed transaction is in the best interests of all Verso stockholders.

The special meeting will be held virtually via live webcast at 10:00 a.m. Eastern Time on March, 11, 2022, and can be accessed by visiting www.virtualshareholdermeeting.com/VRS2022SM. Stockholders of record as of the close of business on the established record date of February 7, 2022, will be entitled to vote their shares at the special meeting. Verso will mail its definitive proxy statement and a proxy card to Verso's stockholders entitled to vote at a special meeting. The Verso Board of Directors unanimously recommends that stockholders vote "FOR" the merger with BillerudKorsnäs as well as the other proposals set forth in the proxy statement.

The transaction is expected to close during the second quarter of 2022, subject to the approval of Verso's stockholders, as well as receipt of regulatory approvals and satisfaction of other customary closing conditions. Regulatory approvals include U.S. antitrust approval as well as approval from relevant state and federal energy regulatory authorities in the U.S.

About Verso Corporation
Verso Corporation is a leading American owned and operated producer of graphic, specialty and packaging paper and market pulp, with a long-standing reputation for quality and reliability. Verso's graphic paper products are designed primarily for commercial printing, advertising and marketing applications, including direct mail, catalogs, corporate collateral, books and magazines. Verso's specialty paper products include release liner papers and label face stock for pressure sensitive, glue-applied and laminate applications. Verso produces packaging paper used in higher-end packaging and printing applications such as greeting cards, book covers, folders, labels and point-of-purchase displays. Verso also makes market pulp used in printing, writing, specialty and packaging papers, facial and toilet tissue, and paper towels. For more information, visit us online at www.versoco.com 

Participants in the Solicitation
Verso and its respective directors and certain of its respective executive officers and employees will be deemed to be participants in the solicitation of proxies in respect of the proposed merger under the rules of the SEC. Information about Verso's directors and executive officers is available in Verso's definitive proxy statement filed by Verso with the SEC on February 8, 2022. This document is available free of charge from the sources indicated above, and from Verso by going to its investor relations page on its corporate website at https://investor.versoco.com/. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the definitive proxy statement and other relevant materials to be filed with the SEC regarding the proposed merger when they become available. Investors should read the definitive proxy statement carefully before making any voting or investment decisions. You may obtain free copies of this document from Verso using the sources indicated above.

The head of the Schleswig-Holstein State Chancellery, State Secretary Dirk Schrödter, visited the Flensburg plant of Mitsubishi HiTec Paper on February 2, 2022. The reason for the visit was the Schleswig-Holstein Economy 2021 Environmental Award, which the company received at the end of last year for its sustainable barricote® barrier papers.

From left to right: Dr. Martin Schreer (Managing Director | Mitsubishi HiTec Paper), Karsten Böde (Director HR, CSR & Compliance | Mitsubishi HiTec Paper), Dirk Schrödter (Head of the Schleswig-Holstein State Chancellery), Joachim Küster (Head of Production Flensburg Mill | Mitsubishi HiTec Paper), Nic Holmer (Director Sales & Marketing | Mitsubishi HiTec Paper)

Impressed by the innovative strength of the company and by the completely recyclable barrier papers for flexible packaging, State Secretary Schrödter and Kai-Michael Kugler (Office of the State Chancellery) were able to witness the production of the coated special papers at the traditional Flensburg location during a factory tour. Subsequently, pressing economic policy issues were discussed with the management: energy policy with the special challenges for the energy-intensive paper industry in Germany as well as the lack of skilled workers and trainees and the resulting effects for a highly specialized production and training company like Mitsubishi HiTec Paper. How politics can promote and support the necessary innovation and transformation process of the paper industry more intensively - against the background of the desired climate neutrality – was finally discussed.

Mitsubishi HiTec Paper Europe GmbH is a German subsidiary of Mitsubishi Paper Mills Ltd., Japan, one of the world's leading manufacturers of specialty paper. The roughly 770 employees at Mitsubishi HiTec Paper Europe produce high-quality direct thermal, inkjet, carbonless, label and barrier papers for flexible packaging at two tradition-rich locations in Bielefeld and Flensburg.

Each factory stands out for own base paper production, state-of-the-art production machinery and innovative coating technologies.

Through its dense global sales network, Mitsubishi HiTec Paper Europe supplies a full range of specialty papers for many applications and printing technologies – and is a highly capable partner whenever customized coated paper solutions are required.

Canfor Corporation (TSX:CFP) is announcing changes to the senior leadership team.

After 14 years with Canfor, Alan Nicholl, Executive Vice President, Bio-Based Solutions & Pulp Operations, has accepted the role of Managing Director with Licella Holdings, Canfor’s joint venture partner in Arbios Biotech (Arbios) effective April 2022. Alan will continue to serve as President & CEO of Arbios.

David Calabrigo, Senior Vice President, Corporate Development, Legal Affairs and Corporate Secretary, has assumed responsibility for leading the Bio-Innovation team as the Company continues to pursue opportunities to develop bio-based solutions to address the growing demand for low carbon, renewable products.

Kevin Anderson, Vice President, Operations, Canfor Pulp is now reporting directly to Don Kayne, CEO, Canfor Pulp.

About Canfor Corporation
Canfor is a leading integrated forest products company based in Vancouver, British Columbia (“BC”) withn interests in BC, Alberta, North and South Carolina, Alabama, Georgia, Mississippi, Arkansas and Louisiana, as well as in Sweden with 70% interest in Vida Group. Canfor produces primarily softwood lumber and also owns a 54.8% interest in Canfor Pulp Products Inc., which is one of the largest global producers of market Northern Bleached Softwood Kraft Pulp and a leading producer of high performance kraft paper. Canfor shares are traded on The Toronto Stock Exchange under the symbol CFP. For more information visit www.canfor.com 

Toscotec will participate in the 30^th International Conference and ExpoAcotepac 2022 organized by the Colombian Association of Technicians of the Cellulose, Paper and Cardboard Industry (ACOTEPAC) from 16^th to 18^th February in Cali, Colombia. 

At the conference, Toscotec will present its innovative technology for superior energy efficiency with two technical speeches on 17^th February:

• 4.15 pm: Enrico Fazio, Sales Director of Toscotec Paper & Board division, will illustrate the advantages of two paper machine rebuilding projects in the case study analysis titled “Even small rebuilds bring great benefits.”

• 5.15 pm: Gabriele Romanini, Sales Manager of Toscotec Tissue division, will talk about the “Strategic roadmap to energy-efficient tissue machines”. The presentation focuses on the superior drying efficiency of the shoe press of new generation TT NextPress paired with the third-generation design TT SYD Steel Yankee Dryer.  

Contacts to book an appointment at Toscotec’s booths 25-26-27: 
Enrico Fazio, Sales Director, Paper & Board division, This email address is being protected from spambots. You need JavaScript enabled to view it.
Marco Dalle Piagge, Sales Director, Tissue division, This email address is being protected from spambots. You need JavaScript enabled to view it.
Gabriele Romanini, Sales Manager, Tissue division, This email address is being protected from spambots. You need JavaScript enabled to view it. 

Voith Paper appoints Dr. Michael Weiss, most recently Vice President Business & Research, as Chief Technology Officer and member of the Management Board. He started in his new role on February 1, 2022, succeeding Frank Opletal, who is going into well-deserved retirement after 38 years at Voith Paper. In his role, Dr. Michael Weiss reports directly to Andreas Endters, President & CEO of Voith Paper.

• Dr. Michael Weiss succeeds Frank Opletal as Chief Technology Officer and Member of the Management Board of Voith Paper

Since 2006, Dr. Michael Weiss has held various positions in the development of pioneering technologies and innovations at Voith Paper. As VP New Business & Research, he has been in charge of innovation management, the simulation department and the central laboratory at Voith Paper since 2017. As CTO, he will contribute his many years of experience in research and development to drive Voith Paper's innovation strategy around the differentiation criteria of sustainability, efficiency and full-line supplier. The main aim is to find answers to the megatrends of sustainability and digitalization and to make them usable for the paper industry.

Dr. Michael Weiss, born in 1970, joined Voith Paper in 2006 as a development engineer.

“As the technology leader and full-line supplier, Voith Paper has always been a reliable partner for its customers when it comes to breaking new ground. Especially today, the paper industry needs more innovations to make production more efficient and sustainable. With his experience and his visionary view of the possibilities that lie in the sustainable material paper, we are pleased to appoint Michael Weiss to the Voith Paper Management Board,” says Andreas Endters, President & CEO of Voith Paper.

Dr. Michael Weiss, born in 1970, joined Voith Paper in 2006 as a development engineer. This was followed by various positions in research and development, where he dealt with the topics of process optimization, mathematical simulation, water management and wastewater treatment, among other things. From 2017 he held the position of Vice President New Business & Research. Dr. Weiss studied process engineering at the RWTH Aachen University. He completed his PhD in chemical engineering in 2004 at the University of Oxford, UK, followed by a two-year stay in France as a postdoc in industrial research and development.

About the Voith Group
The Voith Group is a global technology company. With its broad portfolio of systems, products, services and digital applications, Voith sets standards in the markets of energy, paper, raw materials and transport & automotive. Founded in 1867, the company today has around 20,000 employees, sales of € 4.3 billion and locations in over 60 countries worldwide and is thus one of the larger family-owned companies in Europe

The Group Division Voith Paper is part of the Voith Group. As the full-line supplier to the paper industry, it provides the largest range of technologies, services, and products on the market, and offers paper manufacturers integrated solutions from a single source. The company’s continuous stream of innovations facilitates resource-conserving production and helps customers minimize their carbon footprint. With its comprehensive automation products and leading digitalization solutions from the Papermaking 4.0 portfolio, Voith offers its customers state-of-the-art digital technologies to improve plant availability and efficiency for all sections of the production process.

Valmet will supply IQ Quality Control System to Papeterie Le Bourray in France. The new system will replace the aging old third-party system and will be installed on tissue machine TM 3 at the company’s mill in Saint-Mars-La-Brière, North West France. The target is to optimize production and improve the end-product quality.

The order was included in Valmet’s orders received of the fourth quarter 2021. The delivery will take place in November 2022.

This is the second Valmet IQ Quality Control system order to Papeterie Le Bourray’s mill. The first one was for their tissue machine TM 4, which was started up in September 2021. Valmet has also supplied distributed control system to Papeterie Le Bourray in 2016.

Valmet and Papeterie Le Bourray have had a long and successful co-operation. According to the customer, they have been satisfied with their experience, and Valmet’s innovations and professional service. 

“Papeterie Le Bourray is our long-term customer with very specific needs. We are pleased to supply the quality control system to improve their quality. Our online measurements and controls will increase the stability of their production. With our combination of process know-how and strong service, we are confident that we will fulfill their expectations,” says Eric Butreau, Sales Manager, Automation business line, Valmet.

Technical details about the delivery

The Valmet IQ Quality Control System will be delivered with scanner, related measurements including online color measurement and quality controls. With more accurate data available and state-of-the-art multivariable control technology, the machine can be controlled much better than before resulting in improved machine performance and end-product quality.

Information about the customer Papeterie Le Bourray

Papeterie Le Bourray is a world-known manufacturer of a range of specialist cellulose wadding for specialist uses and techniques such as filtration, sanitary towels, and the medical and hygiene sectors.

The company’s mill in Saint-Mars-La-Brière produces premium quality white and colored tissue paper. The mill has historical roots from the 1840s and started its tissue production in 1974. In 2019 the mill became independent, still focusing on tissue production and also investing to develop recycled fiber production.

Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. We aim to become the global champion in serving our customers.

Valmet's strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. Our advanced services and automation solutions improve the reliability and performance of our customers' processes and enhance the effective utilization of raw materials and energy.   

Valmet's net sales in 2021 were approximately EUR 3.9 billion. Our more than 14,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day. Valmet's head office is in Espoo, Finland and its shares are listed on the Nasdaq Helsinki.   

Read more www.valmet.com

The Indonesian paper mill and manufacturing company chooses A.Celli for the end line of their new packaging paper production line to be installed in the Mojokerto paper mill.

PT Mega Surya Eratama and A.Celli signed a contract for the supply of full-optional end line solutions for the packaging paper production line located in Mojokerto, Indonesia.

The PM2 line in object will produce an average of 1,360 tonnes per day of testliner and medium corrugated with a width of 6,700 mm and basis weight ranging from 90 to 180 gsm, thus making it the most advanced and productive line in the country for this type of products.

A.Celli supply will include a PMT-designed pope reel, capable of processing rolls with a diameter equal to 4400 mm at a design speed of 1350 m/min, and our acclaimed E-WIND® P100 in the full-optional configuration.

Specifically, the paper rewinder, which will process reels at a design speed of 2600 m/min, will be equipped with an in-line unwinder and four in-line reel parking stations, an automatic spool parking, a web-in Slittomatic system for the automatic positioning of the slitting units and, finally, tail and core gluing systems.

The considerable diameter and width of the Jumbo rolls to be processed make this production line, whose start-up is scheduled for 2023, a unique project of which A.Celli is proud to be part.

International technology group ANDRITZ has successfully started up the new ANDRITZ A-ConApex™ cooking system supplied to the Altri Group’s Celbi eucalyptus pulp mill in Leirosa, Portugal.

The A-ConApex™ continuous cooking technology for fines, rejects and non-wood materials is an optimized cooking solution developed by ANDRITZ. The first of its kind cooking system was integrated into the existing ANDRITZ Lo-Solids Cooking process at Altri Celbi pulp mill in Leirosa, Portugal. © ANDRITZ The A-ConApex™ continuous cooking technology for fines, rejects and non-wood materials is an optimized cooking solution developed by ANDRITZ. It is the first of its kind in the world and can process and utilize almost any type of cellulosic raw material and fines from chip screening and screen room rejects, thus optimizing total use of wood raw materials and maximizing pulp yield. With the new cooking system, Altri is able to increase its daily production at the Leirosa mill by around 2.5% and reduce wastage of wood raw materials.

The new cooking system reached its nominal capacity of 60 admt/d during the first few days in operation and was integrated into the existing ANDRITZ Lo-Solids Cooking process, which was started up in 2017.

Gabriel Sousa, Executive Director for Innovation and Technological Development at Altri, says:

“The project is the culmination of open collaboration efforts between ANDRITZ and Altri, from the initial idea, to development and testing, and on to implementation. This first-of-its-kind technology has also been made possible by the joint contributions from multidisciplinary teams at Altri and Celbi, covering innovation, engineering, operations and laboratory. Successful implementation of this project also testifies to the Altri’s group commitment and investment in innovation and continuous improvement.”

Paulo Jordão, Industrial Director at Celbi, says: “This is one of those projects that makes us proud – technologically innovative on a global scale and in keeping with the concept of the circular economy. It combines knowledge, teamwork, continuous improvement and innovation, which are hallmarks of the Altri group in general and Celbi in particular.”

Celbi – a part of the Altri group – is one of the most efficient global producers of cellulosic fiber in Europe, with an annual production capacity of about 800,000 tons. The company is dedicated to the production of cellulosic fiber of high quality, made from eucalyptus and suitable for the production of certain types of paper and cardboard.

ANDRITZ GROUP

International technology group ANDRITZ offers a broad portfolio of innovative plants, equipment, systems and services for the pulp and paper industry, the hydropower sector, the metals processing and forming industry, pumps, solid/liquid separation in the municipal and industrial sectors, as well as animal feed and biomass pelleting. Plants for power generation, flue gas cleaning, recycling, and the production of nonwovens and panelboard complete the global product and service offering. Innovative products and services in the industrial digitalization sector are offered under the brand name Metris and help customers to make their plants more user-friendly, efficient and profitable. The publicly listed group has around 26,800 employees and more than 280 locations in over 40 countries.

ANDRITZ PULP & PAPER

ANDRITZ Pulp & Paper provides equipment, systems, complete plants and services for the production of all types of pulp, paper, board and tissue. The technologies and services focus on maximum utilization of raw materials, increased production efficiency and sustainability as well as lower overall operating costs. Boilers for power generation, flue gas cleaning systems, plants for the production of nonwovens and panelboard (MDF), as well as recycling and shredding solutions for various waste materials also form a part of this business area. State-of-the-art IIoT technologies as part of Metris digitalization solutions complete the comprehensive product offering.

Satia Industries Limited (SIL) has grown to become one of the biggest wood and agro-based paper plants in India, producing wide range of paper from wood chips, veneer waste, wheat straw and sarkanda and other pulp substitutes. The firm has continually invested in modernisation to improve production processes and product quality while reducing waste and environmental pollution.  SIL’s  paper is used in the printing of textbooks, notebooks, directories, envelopes, diaries, calendars, computer stationery, annual reports and other high-quality printing for both domestic and export sales.

To achieve such an expansive product range the firm has invested in four paper production lines, two of which are used only to produce paper for the public sector. Each production line features winders, rewinders and simplex and duplex cutters. Each line is designed to produce finished paper as a defined SKU, ready for customers to purchase.

The demand from the retail market is for varying dimensions, and all the planning and production of different sized products were being carried out manually. While this had been an accepted way of working, it was not the most efficient approach, and it wasn’t unusual for errors and inaccuracies to occur. Subsequently, this would affect production output while trim losses had room for reduction. 

The company’s young and dynamic management team are keen to invest in automation and digitisation where there is a robust business case and clear opportunities for improvement. Identifying that these two paper production lines would benefit from this investment, the firm went to the market to find potential suppliers. SIL had already invested in implementing SAP Hana, as part of this initiative.

After a detailed evaluation process, it was clear that Greycon’s X-Trim solution would provide the ideal solution to update and modernise the finishing house practices in the factory. X-Trim was well suited to the task, with a proven track record of reducing planning time and wasted materials. It was also a good fit with the firm’s culture of continuous investment in the latest technologies and digitisation and they were impressed with Greycon’s team and the ongoing support offered to clients.

Once Greycon’s team had evaluated the best way to implement X-Trim, and the solution had been deployed in the business, the firm started to recognise the benefits almost immediately.

As a result, both the efficiency and accuracy of slitting and sheet cutting planning has improved. The planners can now test out different scenarios in a short period of time. This ensures that the most efficient cutting and preparation scenarios have been considered and the appropriate one chosen.  Not only have planning processes improved, but the team have also noted a measurable reduction in the volume of trim waste because of the new solution.

“At Satia group we are always looking to embrace world-class solutions which can help drive operating efficiencies” states Satia Executive Director, Chirag Satia. “Our people are very happy using the X-Trim solution since it has helped them to make far better decisions after evaluating multiple production options. It has also meant that the time required to produce a trim plan is far lower, providing them with much needed time for other value-added activities. We are extremely satisfied with this decision”.

The project has been hugely successful, representing another step towards full automation and digitisation and reinforcing the firm’s commitment to minimising the environmental impact of its activities.

About Greycon

Greycon is the leading provider of supply chain planning & optimisation, production planning & detailed scheduling, trim optimisation and manufacturing execution systems for roll-based & flat sheet industries; specifically, the paper & board, film & flexible packaging, nonwoven, converting and metal industries.

Established in 1985, over 500 plants in 43 countries use our solutions. Our extremely skilled and talented employees cover 15 languages across our worldwide operation.

www.greycon.com

These are landmark results in a sector that has developed in different ways during the pandemic: on the one hand costs of raw materials and energy increased; on the other hand, new opportunities arose within the fields of e-commerce and of eco-sustainable products.

Oswaldo Cruz Jr., Chief Executive Officer of the Körber Business Area Tissue, comments: “Our customers are under tremendous pressure. There is certainly a great demand for tissue products, but due to the increase in costs, their margins decreased. It is therefore important to actively support them in terms of speed and technologically advanced solutions and services, but more importantly through an integrated approach to help them to reduce costs ".

Oswaldo Cruz Jr., Chief Executive OfficerTherefore, to respond to developments and stay at the forefront of shaping our customers’ success, the Körber Business Area Tissue is evolving more and more from a machinery supplier to a strategic partner that provides broader solutions. This includes for example combining skills in converting and packaging with those of other Business Areas within the Körber ecosystem, such as the Business Area Supply Chain’s cutting-edge logistics, or the Business Area Digital’s cloud-based technology and advanced AI-driven software.

This approach is complemented by the characteristics that have made Körber the only truly integrated and global supplier in recent years with an exclusive product portfolio on the market and a global presence. Mauro Luna, Chief Sales & Marketing Officer of the Körber Business Area Tissue continues: “Think globally, act locally- is our great strength in addition to our large portfolio that allows us to serve different requirements. In China for example, practical and solid products without a core are preferred, so we offer technologies such as Solid + that enable our customers to manufacture such products. In the United States soft and voluminous products are preferred, so we offer Perini Constellation, which makes uniform and soft rolls at very high speeds.

Our broad range of product is supplemented by an on-the-ground presence throughout the world: in addition to the Tuscan headquarters with the plants in Lucca, Bologna and Porcari, there are production facilities in the United States, Brazil, China, and offices in Japan with a total of over 1.200 people employed. This enables us to operate a considerable sales force and number of technicians worldwide who can respond to customer inquiries quickly and promptly”.

This global setup is also vital for product development. In China for example, alternative fibers to cellulose such as bamboo or wheat have already been used for some time. We adapt and offer the expertise gained from working with these alternative fibers easily for other markets. 

Another key element that in 2021 enabled Körber Business Area Tissue to support clients in overcoming their challenges and achieving their Overall Equipment Effectiveness objectives was certainly innovation, which is never an end in itself, but always aims to increase production efficiency or support customers in the development of new business, such as e-commerce.

Luca Frasnetti Chief Technology Officer of the Körber Business Area Tissue concludes: "This year there are three key innovations that we have presented and that will mark our development for the next few years. Warm-up Contactless, a breakthrough innovation that uses induction for embossing; Casmatic Zephyrus that allows our customers to develop and increase business related to e-commerce in a simple, fast and personalized way; and SAMs, real-time production supervisors which identify any possible deviation from what has been established and take appropriate decisions within the previously established limits, regardless of an operator's skill level".

Körber Business Area Tissue

At Körber, our ultimate goal is to empower our customers’ ongoing success. We are the only truly integrated and global provider of advanced solutions for the tissue business. We offer the industry’s most comprehensive portfolio of tissue technology to support customers across the entire value chain — from roll to fold, from converting to packaging. Our advanced, automated, and easy-to-use integrated solutions are a fundamental asset to shape the success in tissue, take our customers operations to the next level, and strengthen their overall financial performance while optimizing their total cost of ownership.

About Körber

We are Körber – an international technology group with about 10,000 employees, more than 100 locations worldwide and a common goal: We turn entrepreneurial thinking into customer success and shape the technological change. In the Business Areas Digital, Pharma, Supply Chain, Tissue and Tobacco, we offer products, solutions and services that inspire. We act fast to customer needs, we execute ideas seamlessly, and with our innovations we create added value for our customers. In doing so, we are increasingly building on ecosystems that solve the challenges of today and tomorrow. Körber AG is the holding company of the Körber Group.