Important Business Announcement from Boise Paper
Effective with shipments October 9, 2017, Boise Paper will raise prices by $2/cwt on all private label and branded office papers, printing papers, and converting papers.
All minimums, up-charges and shipping policies remain unchanged. Please contact your Boise Paper sales representative with any questions regarding these changes.
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Sappi reports results for the second financial quarter
Sappi Chief Executive Officer, Steve Binnie said: “The operating performance for the second quarter fell short of expectations due to challenging market conditions and issues that arose during scheduled maintenance shuts, with the group delivering Adjusted EBITDA of US$107 million.” Challenging market conditions prevailed across all segments, driven by heightened uncertainty from potential global trade tensions and a broader economic slowdown, which placed downward pressure on selling prices. The forestry fair value price adjustment for the quarter was a loss of US$17 million. Despite these headwinds, year-on-year sales volumes remained stable, with a modest recovery in packaging and speciality papers volumes, underscoring the long-term potential of these markets. While market conditions for graphic papers remained soft, targeted efforts to grow market share delivered positive year-on-year gains. Amid these macroeconomic challenges, the group remained focused on optimising asset utilisation and advancing cost-saving initiatives to support future performance. The quarter was negatively impacted by issues that arose during the scheduled maintenance shuts in South Africa, which required additional repairs and extended the shutdowns beyond the planned timeline thereby reducing production for the period. This resulted in an additional financial impact of US$13 million over and above the US$45 million guidance. These issues were resolved and both Saiccor and Ngodwana Mills are running well post start-up. The quarter was also affected by the extended shut for the conversion and expansion of Somerset Mill PM2 in North America, which was US$20 million as per guidance.
Holmen Interim Report January-September 2022
*Operating profit for January–September 2022 was SEK 5 905 million (January–September 2021: 2 725). Excluding the item affecting comparability, operating profit increased by SEK 2 764 million to SEK 5 640 due to higher selling prices, while cost inflation was limited by our high level of wood and energy self-sufficiency. *Compared with the second quarter, operating profit for the third quarter decreased by SEK 180 million to SEK 1 921 million. A weaker wood products market had an adverse impact, but this was largely offset by higher earnings in other business areas. *Profit after tax for January–September amounted to SEK 4 606 million (2 136), which corresponds to earnings per share of SEK 28.5 (13.2).