At the close of the 2019 annual meeting of the Canadian Council of Forest Ministers (CCFM) in Northern Saskatchewan, Forest Products Association of Canada (FPAC) announced its support for the Ministers’ commitment to work together to promote Canadian forestry and forest products to the country and the world. “This was definitely one of the best meetings of forestry ministers from across Canada that I have attended in recent years,” Nighbor said. “There was a real focus on the big picture. How can we better use forest management to fight climate change? How can we more actively manage our forests in and around communities to keep people safe from wildfires? How can wood fibre-based products address our single use plastics challenge? These are the things we need our governments focused on if we’re going to help our environment and support much-needed jobs in forestry communities,” Nighbor added.
*First quarter net loss of $3.4 million
*Quarterly Operating EBITDA* of $57.0 million
*Cash on hand and available credit facilities provide liquidity of about $516.5 million at March 31, 2020
Mercer International Inc. (Nasdaq: MERC) today reported first quarter 2020 Operating EBITDA decreased to $57.0 million from $123.8 million in the first quarter of 2019 and increased from negative $34.2 million in the fourth quarter of 2019.
In the first quarter of 2020, net loss was $3.4 million (or $0.05 per share) compared to net income of $51.6 million (or $0.79 per basic share and $0.78 per diluted share) in the first quarter of 2019 and a net loss of $72.7 million (or $1.11 per share) in the fourth quarter of 2019.
Mr. David Gandossi, the Chief Executive Officer, stated: “The outbreak of the COVID-19 pandemic in the first quarter has presented a number of challenges and I am proud that our people have risen to meet these head on.
Our pulp products are an important constituent of many pandemic related high demand goods such as tissue and cleaning products and certain personal protective equipment. Accordingly, we have implemented a number of new and important health and safety measures at our operations to protect our employees and to allow our mills to operate responsibly and efficiently. We are constantly monitoring our operations and guidance from governmental and health organizations to ensure we take appropriate and necessary actions to protect our people.
details at: https://mercerint.com/wp-content/uploads/2020/04/2020-04-30-Q1-2020-Earnings-release.pdf