MISSISSAUGA, Ontario, March 27, 2020 (GLOBE NEWSWIRE) — KP Tissue Inc. (“KPT”) (TSX.KPT), which holds a limited partnership interest in Kruger Products L.P. (“KPLP”), announced that KPLP has been ramping up production across its networks to meet the increased demand for tissue from our customers and consumers. We have increased and expedited deliveries to retailers to get our product on the retail shelf as quickly as possible. We have also been deemed an essential service which means that we will be able to operate our facilities as normal during the COVID-19 pandemic.
KPLP would like to thank its employees, suppliers and customers who are all working together to replenish tissue inventory at store level. As additional business continuity processes, we have implemented our pandemic planning protocol and increased our supply of raw material at all our locations. We are also increasing hygiene procedures, physical distancing, self- quarantine mandates and work from home protocols aligned to government and health authority direction.
“I am extremely proud of our front-line workers across manufacturing and distribution who have been working tirelessly to get our products to the market as quickly as possible” said Dino Bianco, CEO.
About KP Tissue Inc.
KP Tissue Inc. (KPT) was created to acquire, and its business is limited to holding, a limited partnership interest in KPLP. For more information visit www.kptissueinc.com.
About Kruger Products L.P.
Kruger Products L.P. is Canada’s leading manufacturer of quality tissue products for household, industrial and commercial use. Kruger Products L.P. serves the Canadian consumer market with such well-known brands as Cashmere®, Purex®, SpongeTowels®, Scotties® and White Swan®. In the U.S., Kruger Products L.P. manufactures the White Cloud® brand, as well as many private label products. Kruger Products L.P. has approximately 2,500 employees and operates eight FSC® CoCcertified (FSC® C104904) production facilities in North America. For more information visit www.krugerproducts.ca.
Certain statements in this press release about KPT’s and KPLP’s current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the continued operation of KPLP’s business in the context of government ordered business shutdowns in response to the COVID-19 outbreak and KPLP’s ability to meet the recent increase in demand for its products. The forward-looking statements are based on certain key expectations and assumptions made by KPT or KPLP. Although KPT and KPLP believe that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking statements since no assurance can be given that such expectations and assumptions will prove to be correct.
Many factors could cause KPLP’s actual results, level of activity, performance or achievements or future events or developments (which could in turn affect the economic benefits derived from KPT’s economic interest in KPLP), to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, risks described in the “Risk Factors – Risks Related to KPLP’s Business” section of the KPT Annual Information Form dated March 8, 2019 available on SEDAR at www.sedar.com and risks relating to the COVID-19 outbreak. The extent to which the COVID-19 outbreak impacts KPT’s business, including its operations and the market for its securities, will depend on future developments, which are highly uncertain and cannot be predicted at this time, and include the duration, severity and scope of the outbreak and the actions taken to contain or treat the outbreak. Even at its current scope together with measures that have been taken globally to counteract it, the COVID-19 outbreak could materially and adversely impact KPT’s business, financial condition and results of operations including, without limitation, through compromised employee health and workplace productivity, disruption to supply chain and ability to produce and deliver products, and threats to the business continuity of our customers.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information contained herein is made as of the date of press release and KPT undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws.
General Counsel and Corporate Secretary
KP Tissue Inc.
Director of Investor Relations
KP Tissue Inc.