Domtar Corporation announced today a plan to optimize fluff pulp manufacturing at its Plymouth mill. The streamlining measures will strengthen the mill's position in the global fluff pulp markets. The restructuring, which is expected to be completed by mid-2017, includes the permanent closure of the small pulp dryer and idling of related assets, in addition to a workforce reduction of approximately 100 positions. The streamlining process will also right-size the mill to an annualized production target of approximately 380,000 metric tons of fluff pulp. The Plymouth mill will continue to produce LighthouseTM Fluff, the benchmark grade for high-quality fluff pulp. "This action at Plymouth along with the start-up of fluff pulp production at Ashdown will optimize Domtar's fluff pulp manufacturing network and strengthen our position in the growing fluff-pulp market," said Domtar President and Chief Executive Officer John D. Williams. "We remain committed to the Plymouth mill, where we have made significant investments in the past several years. These changes will prepare the mill for long-term, sustainable success."
Interfor Corporation (“Interfor” or the “Company”) (TSX: IFP) recorded a net loss of $103.8 million, or $1.54 per share, in 2019, compared to net earnings of $111.1 million, or $1.59 per share in 2018. Adjusted EBITDA was $63.4 million on sales of $1.9 billion.
Interfor recorded a net loss in Q4’19 of $41.7 million, or $0.62 per share, compared to $35.6 million, or $0.53 per share in Q3’19 and $13.5 million, or $0.20 per share in Q4’18. Adjusted net loss in Q4’19 was $17.4 million compared to $11.8 million in Q3’19 and $20.2 million in Q4’18.
Adjusted EBITDA was $17.6 million on sales of $456.8 million in Q4’19 versus $16.8 million on sales of $486.5 million in Q3’19.
Included in the Company’s results for Q4’19 are $22.7 million (after-tax) for capital asset write-downs and restructuring costs, or $30.4 million on a pre-tax basis. This includes $13.1 million of non-cash impairments for goodwill related to the reconfiguration of the Company’s B.C. Coastal business and $16.1 million of non-cash asset impairments on assets in the U.S. Northwest business to reflect their fair value, as well as cash costs of $1.2 million for discontinued operations.
details at: http://www.interfor.com/sites/default/files/docs/reports/interfor-reports-q419-results.pdf