Modular construction, using timber as a key element, is a credible solution to fast and sustainable house building. However, Metsä Wood believes that more needs to be done in terms of sharing knowledge and innovation in wood construction to further advance the use of this material in mainstream construction. In order to help facilitate this process, Metsä Wood has launched its Open Source Wood initiative at www.opensourcewood.com. Metsä Wood's Executive Vice President, Esa Kaikkonen, explains: "Not enough knowledge about modular wood design and building is shared, so wood construction remains niche. There is plenty of innovation but it is difficult to find, so Open Source Wood is our solution. We believe that with open collaboration the industry can achieve significant growth." Click Read More below for additional information.
Mercer International Inc. (Nasdaq: MERC) today reported second quarter 2020 Operating EBITDA decreased to $40.5 million from $70.0 million in the second quarter of 2019 and from $57.0 million in the first quarter of 2020.
In the second quarter of 2020, net loss was $8.4 million (or $0.13 per share) compared to net income of $10.3 million (or $0.16 per share) in the second quarter of 2019 and a net loss of $3.4 million (or $0.05 per share) in the first quarter of 2020.
In the first half of 2020, Operating EBITDA decreased by 50% to $97.5 million from $193.8 million in the same period of 2019. In the first half of 2020, net loss was $11.8 million compared to net income of $61.9 million in the same period of 2019.
Mr. David Gandossi, the Chief Executive Officer, stated: “While the world continues to be impacted by the COVID‐19 pandemic, I am proud to say that our people have remained resilient and we implemented measures and procedures to meet the challenges of operating our business safely and efficiently. We are constantly monitoring our operations and guidance from governmental and health organizations to ensure that we continue to take appropriate and necessary actions to protect our people.
All of our mills ran well this quarter. Pulp production was down slightly in the quarter primarily due to a previously announced short‐term planned curtailment.
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