26 logistics concepts ERP systems and trans port contracts taking measures that en sure our supply reliability goods dispatch and data security We also continued to invest during the Covid 19 pandemic THE PRINCIPLE OF INDEPENDENCE We at Paul Co proudly announced We produce our best raw material ourselves our paper Over the past two years we have made extensive investments in our paper mills Carl Macher GmbH Co KG and Papeteries du Rhin putting state of the art machinery logistics and environmental management into place None of us could have guessed at the time how important this step would be especially in times of maxi mum scarcity of raw materials The two paper The ongoing global shortage of raw materials and supply bottlenecks for primary products and auxiliary mate rials are having a major impact on supply chains and production everywhere A singu lar cause cannot be identified it is instead a chain of different factors that influence each other An unavoidable effect of the current situation is a huge increase in the price of raw materials and transport OUR WORLD HAS CHANGED We would like to help shape this trans formation for the good of society and to provide our customers with as much relia bility as possible Since the beginning of the pandemic we have already implemented essential measures that have proven their worth ensuring our reliability of supply as part of our paper strategy for the future We modernised and expanded all of our paper core plants with hightech production facilities fully automated warehouses sophisticated RELIABILITY OF SUPPLY OUR META GOAL RELIABILITY OF SUPPLY I OUR META GOAL

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