OX Industries Acquires Carthage, NY Paper Mill

HANOVER, PA, October 25, 2018 – Ox Industries acquired Carthage Specialty Paperboard, Inc. located in
Carthage, NY on October 25th.

Carthage Specialty Paperboard, Inc fell ln to bankruptcy in February of 2018 and has been operating under
financial pressure since that time. The mill is over 125 years old and produces various grades of uncoated
recycled paperboard for industries such as pharmaceutical cap sealing, art mat board, ridged setup box,
folding cartons, and protective packaging.

Kevin Hayward, President of Ox Industries, stated, “Despite the difficult recent times, the mill’s equipment has
great potential and the staff is knowledgeable and skilled in the industry. We are excited about this new
opportunity as it expands our mill product offering and supports our vertically integrated mill system.”
Ox Industries has renamed the paper mill from Carthage Specialty Paperboard, Inc. to Ox Specialty Papers, LLC
to fit in with the Ox suite of facilities.

About OX Industries:
Headquartered in Hanover, PA, OX Industries is a vertically integrated manufacturer of 100% recycled
paperboard, tubes & cores, and edge protective products. OX is a leader in the uncoated paperboard industry
with a capacity to produce over 160,000 tons annually, saving over 367,500yd3 of waste paper from landfills.