Adoption of income statement and balance sheet, resolution on dividend
At the Annual General Meeting, the income statement and the balance sheet as well as the consolidated income statement and consolidated balance sheet for 2011 were adopted. In accordance with the Board’s proposal, the meeting decided that SEK 3.50 per share should be distributed to the shareholders and that the record date for the dividend should be 14 May 2012. The dividend is estimated to be delivered from Euroclear Sweden AB on 18 May 2012.

Election of Board members and Chairman of the Board
The meeting decided to re-elect Ingvar Petersson, Helena Andreas, Mikael Hellberg, Gunilla Jönson, Michael M.F. Kaufmann, Ewald Nageler and Yngve Stade, and to elect Lennart Holm and Jan Homan as ordinary Board members and that no deputy members were to be elected. The meeting also decided to re-elect Ingvar Petersson as Chairman of the Board and Michael M.F. Kaufmann as Deputy Chairman of the Board.

Nominations Committee for 2013 Annual General Meeting
The meeting decided that the nomination committee shall comprise of a maximum of four members. The Chairman of the Board shall be the secretary of the Nomination Committee. During the autumn of 2012, the Chairman shall contact the major shareholders (judged by size of shareholding) regarding the formation of a Nomination Committee. The names of the members of the Nomination Committee, and the names of the shareholders they represent, shall be announced no later than six months before the 2013 Annual General Meeting.

The introduction of a Long Term Incentive Programme and transfer of shares under the Long Term Incentive Programme ("LTIP 2012")
The meeting decided on the introduction of LTIP 2012 and of transfer of shares under LTIP 2012. LTIP 2012 comprises a total of maximum 20 managers and other key employees within the Billerud Group. To participate in LTIP 2012, the participants must purchase Billerud shares at market price on NASDAQ OMX Stockholm. Previously held Billerud shares may also be included in the required investment. Thereafter, the participants will, after a three year vesting period, free of charge, be allotted Billerud shares, provided that certain conditions are fulfilled, such as certain performance conditions relating to financial targets during the period 2012-2014.

Authorisation for the Board to decide on the transfer of the company’s own shares
The Meeting decided to authorise the Board, during the period up to the next Annual General Meeting, on one or more occasions and with deviation from preferential rights for shareholders, to decide on transfer of no more than the number of Billerud shares that the company holds at the time of the Board’s decision, either to a third party as payment in connection with acquisition of companies, and/or as a transfer on the stock exchange in order to raise liquid funds for payment in connection with such acquisitions. A transfer on the stock exchange may only be carried out at a price per share within the range of share prices registered for the company at any given time. The company’s existing holding of own shares at the time of the issuance of the notice to the Annual General Meeting was 1,720,314 shares.

Decision regarding amendment of the Articles of Association regarding the name of the company
The Meeting decided to amend the Articles of Association so that the company name shall be Billerud Aktiebolag (publ).

Other
Furthermore the meeting decided on discharge from personal liability for Board Members and the CEO for their administration for the year 2011, on fees for Board Members and remuneration for Committee work and fees for the auditors, and to approve the Board’s proposal for guidelines for remuneration to senior executives.

UPM recycles all printing paper waste collected at the drupa exhibition in Germany working in close co-operation with Remondis, a leading waste management company.

Printed and unprinted waste paper is collected in containers at drupa and transported to Remondis' baling facility. The bales will be transported to the UPM Hürth mill located close to Düsseldorf, where they will be used as valuable raw material in UPM's paper production.

"At drupa 2012 we will continue our established partnership with Remondis and collect the paper generated during the exhibition. Reusing the valuable wood fibre at our UPM Hürth mill located very close to Düsseldorf makes it possible to minimize also the environmental impacts of transportation. This truly shows one aspect of our Biofore thinking coming to life", says Päivi Rissanen, Environmental Director of UPM Paper Business Group.

Biggest user of recovered paper

Recycling is an essential part of any environmentally-responsible business and core to UPM’s Biofore strategy. With four million tonnes of recovered paper per year, UPM is the world’s largest user of recovered paper in graphic papers. About one third of fibre raw material used in its paper production is recovered paper. UPM's annual consumption of recycled paper would fill the Empire State Building more than three times.

In addition to being the largest user of recovered paper worldwide, UPM seeks to maximise the reuse of recycled materials in all aspects of its business.

To provide sustainable recycling, UPM acts in close partnership with local authorities and industrial partners. UPM delivers efficiency and innovation through long-term working partnerships with logistics and waste management companies, delivering integrated waste management and recycling services to both the public and private sectors.

UPM mills in Hürth (Germany), Chapelle (France), Schwedt (Germany) and Shotton (UK) are all producing paper from 100% recovered paper. Other UPM mills using recovered paper are Augsburg (Germany), Ettringen (Germany), Kaipola (Finland), Schongau (Germany), Plattling (Germany) and Steyrermühl (Austria).

AbitibiBowater Inc., doing business as Resolute Forest Products, have announced that Fibrek Inc. and Resolute are cooperating on an orderly transition to Resolute's effective control. The goal for both parties is to minimize any disruption to Fibrek's key relationships, including its employees, customers, suppliers and other partners.

Following the filing of Fibrek's first quarter 2012 consolidated interim financial statements with the Canadian securities authorities, it announced that each member of the board had stepped down, effective immediately. Resolute is pleased to announce that the principal members of Fibrek's outgoing management team, including Pierre Gabriel Côté, chief executive officer, and Patsie Ducharme, chief financial officer, have agreed to assist in the transition process as special advisors until May 31, 2012.

"We're delighted to mark this important step in the integration of Fibrek within the Resolute family," said Richard Garneau, president and chief executive officer. "While there remains work to be done, the spirit of cooperation we've announced today means business as usual for Fibrek's operations, customers, suppliers and other business partners."

The departing members of Fibrek's board were replaced by the following Resolute nominees: Michel Desbiens, Michel Gagnon and Daniel Filion, each of whom will serve as outside director, and Richard Garneau (chair), Jo-Ann Longworth and Jacques P. Vachon. Mr. Garneau is Resolute's president and chief executive officer, Ms. Longworth is its senior vice president and chief financial officer, and Mr. Vachon is its senior vice president for corporate affairs and chief legal officer.

This new Fibrek board appointed Richard Garneau as president and chief executive officer, Alain Boivin as vice president for operations, Jo-Ann Longworth as vice president and chief financial officer and Jacques P. Vachon as vice president for legal affairs and corporate secretary. Messrs. Boivin, Garneau and Vachon and Ms. Longworth are not entitled to additional compensation for serving as either Fibrek officers or directors.

Mr. Garneau added: "We've consistently said that we would remain true to the three themes that underlie Resolute's strategy: cost-effective operational excellence, disciplined use of capital and strategic development. Increasing our capacity in the growing global pulp market by adding these assets is consistent with our strategy.  Resolute is uniquely positioned to generate additional value from these assets by completing their integration."

Having acquired approximately 63.3% of the currently outstanding shares of Fibrek as of May 4, Resolute also announced today that its offer to acquire the remaining shares of Fibrek will NOT be further extended and will expire definitively on May 17. As further described in the offer circular and other ancillary documentation related to the offer (as amended), Resolute intends to carry out a second step transaction to acquire the Fibrek shares not deposited in the offer. By tendering before the final expiry time, remaining Fibrek shareholders will avoid the risks associated with a potentially illiquid market until Resolute can complete the second step transaction for the remaining Fibrek shares, if at all.

The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition Inc., a wholly-owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the "SEDAR" website maintained by the Canadian Securities Administrators, as varied and extended.  The offer expires at 5:00 p.m. (Eastern time) on May 17, 2012. 

BMO Capital Markets acted as Resolute's financial advisor.  Norton Rose Canada and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as Resolute's legal advisors.

UPM’s service offering for its paper customers has been extended by launching a modern, easy-to-use Online Paper Catalogue which is now available both in English and German. Furthermore, a mobile version of the paper catalogue will be tested at drupa 2012 trade fair and it will be in full use later this year.

The new Online Paper Catalogue:

• allows approaching UPM papers from different angles e.g. end-use, grade, finish etc
• provides you with the latest product information – always up-to-date
• goes hand-in-hand with the printed product catalogue
• enables easy printing of product fact sheets

“Users decide for themselves how they want to read UPM’s product information: in the printed catalogue, online or, perhaps also on their mobile phone. We want to ensure that up-to-date information is always available, regardless of the channel,” says Laura Kuusinen, Digital Communications Manager at UPM Paper Business Group.

Mobile Paper Catalogue v.0.1

In addition to the Online Paper Catalogue for PCs, UPM Paper has taken the first step to enter into the constantly evolving mobile world by launching the 0.1 version of the Mobile Paper Catalogue – http://m.upmpaper.com

“With this version 0.1 we will both test the technical functionality of the mobile catalogue and collect feedback from the users.  Based on the feedback we will specify functionalities for the next version,” says Kuusinen.

New ways of combining different channels

UPM believes in the co-existence of the digital and print media. We are constantly looking for new innovative ways of combining different channels. The current mobile revolution provides many interesting opportunities for paper. Paper has become a gateway to exciting experiences.

www.upmpaper.com – Your home page for paper 

Verso Paper Corp. has announced  that it has amended certain terms of the previously announced exchange offers and consent solicitations of two of its subsidiaries, Verso Paper Holdings LLC and Verso Paper Inc. (together, the "Issuers"), with respect to their second priority senior secured floating rate notes due 2014 (the "Old Secured Floating Rate Notes") and with respect to their 11⅜% senior subordinated notes due 2016 (the "Old Subordinated Notes").

Among other things, the amendments to both exchange offers and consent solicitations included the following changes with respect to certain covenants relating to the new series of 11.75% secured notes due 2019 (the "New Notes") to be issued in the exchange offers: (a) revising the definition of "Existing Fixed Rate Second-Lien Notes" to include certain refinancings or exchanges of these notes, (b) revising the indebtedness covenant by imposing certain additional requirements therein relating to the refunding or refinancing of the Issuers' existing second-lien notes; and (c) revising the restricted payments covenant to impose additional restrictions on the ability of the Issuers to refinance existing second-lien notes and make certain other restricted payments. The amended covenant terms are set forth in more detail in supplements, dated as of May 7, 2012, to each of the Issuers' confidential offering memorandums and consent solicitation statements relating to the exchange offers.

Tendered Old Subordinated Notes may be withdrawn before the withdrawal deadline of 5:00 p.m., New York City time, on May 8, 2012. Tendered Old Secured Floating Rate Notes may no longer be withdrawn, except to the extent that the Issuers are required by law to provide additional withdrawal rights.

Except as set forth herein, in the supplements dated as of April 25, 2012, and May 7, 2012, to the Issuers' confidential offering memorandum and consent solicitation statement dated as of March 28, 2012, and the related consent and letter of transmittal (collectively, the "Old Secured Floating Rate Notes Exchange Offer Documents") and in Verso's news release issued on April 11, 2012, the complete terms and conditions of the exchange offer and consent solicitation for the Old Secured Floating Rate Notes remain the same as set forth in the Old Secured Floating Rate Notes Exchange Offer Documents, copies of which were previously distributed to eligible holders of the Old Secured Floating Rate Notes.

Except as set forth herein and in the supplement dated as of May 7, 2012, to the Issuers' confidential offering memorandum and consent solicitation statement dated as of April 25, 2012, and the related consent and letter of transmittal (collectively, the "Old Subordinated Notes Exchange Offer Documents"), the complete terms and conditions of the exchange offer and consent solicitation for the Old Subordinated Notes remain the same as set forth in the Old Subordinated Notes Exchange Offer Documents, copies of which were previously distributed to eligible holders of the Old Subordinated Notes.

If any of the conditions to the exchange offer and consent solicitation for the Old Secured Floating Rate Notes is not satisfied, the Issuers may terminate the exchange offer and consent solicitation and return tendered Old Secured Floating Rate Notes not previously accepted. The Issuers have the right to waive any of the conditions with respect to the Old Secured Floating Rate Notes. In addition, the Issuers have the right, in their sole discretion, to terminate the exchange offer and consent solicitation at any time, subject to applicable law.

If any of the conditions to the exchange offer and consent solicitation for the Old Subordinated Notes is not satisfied, the Issuers may terminate the exchange offer and consent solicitation and return tendered Old Subordinated Notes not previously accepted. The Issuers have the right to waive any of the conditions with respect to the Old Subordinated Notes. In addition, the Issuers have the right, in their sole discretion, to terminate the exchange offer and consent solicitation at any time, subject to applicable law.

General

This announcement shall not constitute an offer to purchase or a solicitation of an offer to sell any securities. The complete terms and conditions of the exchange offer for the Old Subordinated Notes are set forth in the Old Subordinated Notes Exchange Offer Documents that have been sent to eligible holders of the Old Subordinated Notes, as amended to the extent described in this news release. The exchange offer and consent solicitation for the Old Subordinated Notes is being made only through, and subject to the terms and conditions set forth in, the Old Subordinated Notes Exchange Offer Documents and related materials. The complete terms and conditions of the exchange offer and consent solicitation for the Old Secured Floating Rate Notes are set forth in the Old Secured Floating Rate Notes Exchange Offer Documents that were sent to eligible holders of the Old Secured Floating Rate Notes, as amended to the extent described in this news release and in the news releases dated as of April 11, 2012, and April 25, 2012. The exchange offer and consent solicitation for the Old Secured Floating Rate Notes is being made only through, and subject to the terms and conditions set forth in, the Old Secured Floating Rate Notes Exchange Offer Documents (as amended to the extent described in this news release) and related materials.

The New Notes are being offered in the U.S. only to (1) qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and (2) "accredited investors" as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act, and outsidethe United States only to non-U.S. investors pursuant to Regulation S. The New Notes will not initially be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements or in a transaction that is not subject to the registration requirements of the Securities Act or any state securities laws.

Global Bondholder Services Corporation is acting as the Information Agent for the exchange offers. Requests for the Old Subordinated Notes Exchange Offer Documents or the Old Secured Floating Rate Notes Exchange Offer Documents from eligible holders may be directed to Global Bondholder Services Corporation at (212) 430-3774 (for brokers and banks) or (866) 470-3700 (for all others).

Neither the Issuers' boards of directors nor any other person makes any recommendation as to whether holders of Old Subordinated Notes or Old Secured Floating Rate Notes should exchange such notes, and no one has been authorized to make such a recommendation. Eligible holders of Old Subordinated Notes or Old Secured Floating Rate Notes must make their own decisions as to whether to exchange their notes, and if they decide to do so, the principal amount of the notes to exchange. Eligible holders of Old Subordinated Notes or Old Secured Floating Rate Notes should read carefully the exchange offer documents described above and related materials before any decision is made with respect to the exchange offer and consent solicitation.

Source: Verso Paper Corp.

Ecolab Inc. has announced that it has entered into a stockholder agreement with Cascade Investment, L.L.C. and the Bill & Melinda Gates Foundation Trust related to their investments in Ecolab. Ecolab has amended its stockholder rights plan so that Cascade and the Foundation Trust would in the future be able to acquire up to 25% of Ecolab's outstanding shares. Cascade currently holds 27,001,348 shares, or 9.3%, and the Foundation Trust currently holds 4,366,425 shares, or 1.5%, of Ecolab's outstanding shares.

Under the agreement, if Cascade and the Foundation Trust own in the aggregate 15% or more of the outstanding Ecolab shares, Cascade and the Foundation Trust have agreed not to seek control of, or encourage others to seek control of, the company or the Board of Directors, and accordingly they will support the Ecolab Board's director nominees as long as a Cascade representative is given the opportunity to serve as a director. Currently, Michael Larson, Chief Investment Officer for William H. Gates III, and the business manager for Cascade, is an Ecolab director.

Douglas M. Baker, Jr., Ecolab's Chairman and Chief Executive Officer commented, saying, "Cascade and theFoundation Trust have a demonstrated record of making significant investments in companies for the long-term and being constructive shareholders. We have already enjoyed that experience with them over the past two years since they initiated their positions in our company. We look forward to continuing to work in partnership with all of our shareholders as we work to grow our business and develop further superior returns."

The stockholder agreement has been included as an exhibit in Ecolab's current report on Form 8-K, filed May 7, 2012. 

Source: Ecolab Inc.

It’s time to turn the page and write the next chapter in the story of paper. UPM will do it at drupa in the next two weeks. drupa - the international trade fair, held every four years, is bringing together media and printing professionals from all around the world to Düsseldorf, Germany.

The entire trade fair area with its 19 halls has transformed into the biggest printing house in the world. About 1,850 exhibitors from more than 50 countries will demonstrate the diversity and innovation strength of the printing industry.

Life without paper, printing and media is simply unthinkable – they are an integral part of everyday life. Even the rise of digital media has not displaced print media, but rather enriched it: The co-existence of printed and digital media opens up new and interesting opportunities for brand owners, retailers and even for consumers.

UPM strongly believes that printed and digital channels complement each other, with paper assuming its natural role within the modern media palette. The company has brought together its experts and visionary cooperatives at drupa to showcase exciting examples of combining print and digital channels – providing inspiration and solutions to all those in the media industry.

UPM is exhibiting in hall 6 at the stand D60 as part of the joint PrintCity Alliance. Come to meet us and see how paper works as the gateway to exciting experiences.

Stay tuned for UPM drupa highlights by following us at Twitter: www.twitter.com/UPM_Papers.

Read more about our drupa presence: www.upmpaper.com/drupa

Price levels for sawn timber products have been increasing slowly during the second quarter of 2012. At the same time, however, the construction market remains weak almost everywhere for Södra's products, not least in the Netherlands and Denmark, which are important to Southern Sweden. No improvement is expected until 2013 at the earliest.

Profitability remains weak as a consequence of depressed demand and overcapacity of timber construction products in Southern Sweden.

As a result, Södra Timber is reducing its production. The planned holiday downtime at its sawmills in Ramkvilla and Torsås will be extended as an initial measure. Sawmill production will stop on 4 June and resume on 27 August, extending the planned holiday shutdown by two months. Sawmill production at the sawmill in Långasjö will be reduced from a three-shift pattern to a two-shift pattern over the same period. All sawmills will remain open for deliveries throughout the summer.

The situation at Södra Timber's sawmills will be evaluated in May.

"We are monitoring market development closely. The sawmills have now seen a fairly long period of no profitability, and we have to create a balance between production and demand in order to place ourselves back in a reasonable situation," said Peter Nilsson, President of Södra Timber.

"We hope that these measures will improve the situation. But at the same time, we are not ruling out further action in the future," Nilsson added.