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KP Tissue to present at RBC Capital Markets Forestry Products Conference on Dec. 1

KP Tissue, Kruger's Memphis plant will have production capacity of 85,000 tonnes after the planned asset shutdown; high-quality facial tissue and premium Through Air Dry products will continue to be produced by site's approximately 400 remaining employees

Kruger Products, KP Tissue to shut down older, inefficient production assets in Memphis, Tennessee, in early January, including a Light Dry Crepe paper machine, six converting lines; 165 workers impacted to receive severance, employment transition support

CIBC maintains KP Tissue at neutral with C$10.50 target, but slightly lowers 2023 estimates; KP on track to restore margins further in 2023, but capital investments at Sherbrooke mill likely to affect free cash flow generation for next two years

RBC Capital reiterates KP Tissue at sector perform and C$10 target, noting in-line Q3 adjusted EBITDA; price hikes finally catching up with inflationary pressures, and there are additional tissue price hikes in October that will be fully realized in 2023

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