Buckeye Technologies, Inc.

Buckeye Technologies, Inc. was incorporated in Delaware. It began operations as an independent company on March 16, 1993. It became a public company in November of 1995. The Company is a producer of value-added cellulose-based specialty products. The Company is the only manufacturer in the world offering cellulose-based specialty products made from both wood and cotton and utilizing wetlaid and airlaid technologies. Cellulose is a natural fiber derived from trees and other plants that is used in the manufacture of a wide array of products. The total cellulose market generally could be divided into two categories: commodity and specialty. Manufacturers use commodity cellulose to produce bulk paper and packaging materials, the markets for which are very large but highly cyclical. The Company's product lines could be broadly grouped into four categories: chemical cellulose, customized fibers, fluff pulp and nonwoven materials. It manages these products within two reporting segments: specialty fibers and nonwoven materials. The chemical cellulose and customized fibers are derived from wood and cotton cellulose materials using wetlaid technologies. Fluff pulps are derived from wood using wetlaid technology. Wetlaid technologies encompass cellulose manufacturing processes in which fibers are deposited using water. Airlaid nonwoven materials are derived from wood pulps, synthetic fibers and other materials using airlaid technology. Airlaid technology utilizes air as a depositing medium for fibers, one benefit of which is an increased ability as compared to wetlaid processes to mix additional feature-enhancing substances into the material being produced. Slash pine timber and cotton fibers are the main raw materials used in the manufacture of its specialty fibers products. Slash pine timber and cotton fibers are the main raw materials used in the manufacture of its specialty fibers products. The Company's operations are subject to extensive general and industry-specific federal, state, local and foreign environmental laws and regulations, particularly those relating to air and water quality, waste disposal and the cleanup of contaminated soil and groundwater.