UPM supply chain goes mobile in November when the paper business is looking for new, innovative solutions for its supply chain at Junction hackathon in Helsinki, Finland. Junction is Europe's leading hackathon and a converging point for developers, designers, and entrepreneurs from across the world. UPM offers participants of the hackathon the challenge to create digitalised solutions, services and data analytics using supply chain data. The application period has started and continues till October. Large amounts of paper are produced daily and shipped from UPM paper mills to customers around the globe. On-time delivery requires careful planning and up-to-date location data of the cargo. Mobility, Internet of Things (IoT) and data analytics offer a platform for new, innovative ways of working to improve efficiency and customer satisfaction. click read more below for more details
INTERFOR CORPORATION (TSX: IFP) recorded a net loss of $20.6 million, or $0.29 per share, on sales of $429.7 million in Q2’15 compared with a net loss of $0.2 million in Q1’15 and net earnings of $7.4 million in Q2’14.
Included in the Company’s results for Q2’15 is a pre-tax loss of $7.7 million(1) associated with the operations of the Tacoma sawmill which was acquired from Simpson Lumber Company, LLC (“Simpson”) earlier this year as part of a larger transaction involving a total of four mills.
Excluding the Tacoma loss and certain other items, the Company reported an adjusted net loss(2) of $14.7 million, or $0.21 per share, in Q2’15 versus adjusted net earnings(2) of $4.5 million in Q1’15 and $21.1 million in Q2’14.
Adjusted EBITDA(2), which excludes the results associated with Tacoma and certain other items, was $12.7 million in Q2’15 versus $31.8 million in Q1’15 and $47.3 million in Q2’14.
The Company’s operations in all regions were impacted by the significant drop in product prices experienced in Q2’15.
Benchmark prices for Western SPF 2×4, SYP East 2×4 and HF Studs 2×4 9’ declined US$38, US$30 and US$46 per mfbm, respectively, compared to the prior quarter. Prices for SPF 2×4 and HF Studs 9’ began to strengthen in the final month of Q2’15 as increased takeaway levels and production curtailments helped to rebalance in-market inventories. SYP lagged SPF and HF prices on the decline and remained soft through quarter-end, with discounts from list prevalent on most items.
Beyond the benchmarks, prices for low-grade products were particularly weak in Q2’15, with SPF 2×4 #3 off US$55 and SYP 2×4 #3 off US$59 versus Q1’15.
The Canadian dollar strengthened by 0.9% against the US dollar during the quarter, averaging US$0.8132 in Q2’15 versus US$0.8057 in Q1’15.
In addition, the reintroduction of export duties on April 1, 2015 on lumber shipments from Canada into the US resulted in $2.5 million of duties paid in Q2’15 compared with $0 in Q1’15 and Q2’14.
The Company’s Q2’15 results were further impacted by an EBITDA loss of $1.5 million related to its Castlegar sawmill which was curtailed for 13 days during the quarter as part of a $50 million modernization project at that facility. The Castlegar Project is proceeding on-time and on-budget with construction expected to be completed in Q4’15 and full operating performance targeted for Q1’16.