BALA CYNWYD, Pa. (News release) -- On February 28th, 2018, PaperWorks Industries, Inc. and certain of its affiliates completed a comprehensive financial restructuring of the Company's debt and equity. Among other things, the proposed restructuring reduced the Company's funded indebtedness by approximately $280 million or 70%, through a repayment of the Company's existing ABL credit facility and an exchange of the Company's 9.5% Senior Secured Notes due in August 2019 (the "Notes") for new debt and new common equity in the reorganized Company. The Company's new capital structure consists of a $114 million term-loan due in February 2023, inclusive of $70 million of new capital.

"The completion of this transaction provides a strong and financially flexible capital structure that provides sufficient liquidity to operate and grow our business and enables us to maximize value for our stakeholders," said C. Anderson "Andy" Bolton, President and Chief Executive Officer of the Company. "Our new ownership group is excited to partner with us as we drive our growth strategy. We are committed to providing world-class solutions for our customers, enabling them to win in the marketplace. I would like to again thank our customers, vendors and employees for their patience and support as we moved through this process."

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EMPLOYMENT OPPORTUNITIES:

* An expanding company is looking for a Corporate Industrial Electro-Mechanical Engineer near Allentown, PA. Relocation is available. Do you have a storied list of unique electrical and mechanical engineering skills you're ready to take to the next level? Do you envision yourself in a corporate-level leadership role that your experience finally merits? And do you relish any opportunity to troubleshoot and solve real-time problems, all while designing and installing new services and systems that will not only ensure safety, but also turn a potentially hazardous work environment into a continuously thriving one? If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

* An expanding company is looking for hands-on Electro Mechanical Maintenance Techs in Conyers, Georgia. Preference will be given to candidates with higher education and additional certificates or training. You must be able to work any shift. Pay is negotiable with excellent perks and benefits. Relocation assistance is available to the right candidate. If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

* Working as a Consultant? Looking for some additional challenges with a flexible scheduling? Have a background in Consistency Control? This may be just the opportunity you are looking for: A large multi-national automation company seeks an expert in paper mill consistency technology. This individual will facilitate application support and start-ups in the paper mill environment. In addition, the ability to provide troubleshooting and technical advice and support is strongly desired. The individual should have an understanding of rotary, blade, microwave and optical consistency and the application of these devices in the paper mill. The company sells and maintains a line of consistency transmitters, sample valves and sheet break detectors. These products are marketed in the US through a rep. network. Knowledge of sheet break detection technology is also desirable. Individual must be willing to travel to paper production facilities across the US. Travel & Living Expenses to be reimbursed along with an agreed upon daily per diem rate. For more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

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Jim Thompson is back again...with a new book on a taboo subject: the personalities in the pulp & paper industry. Jim has written in the past on many subjects based on his four plus decades in the worldwide pulp and paper industry. This new book is packed full of information valuable to the senior member of the industry as well as the recent entrant. A must for every pulp and paper library.