The U.S. Lumber Coalition released the following statement in response to the U.S. Department of Commerce announcement of antidumping duties related to Canadian companies dumping Canadian softwood lumber products in the United States. The Department's decision is a preliminary finding and now the case will be subject to additional investigation before a final decision on the dumping margins is made by the Department in September. "We applaud the Department of Commerce's decision to take further action against Canada's unfair trading practices and restore fair trade for U.S. lumber producers,' said U.S. Lumber Coalition spokesperson, Zoltan van Heyningen. The rates announced on June 26, 2017 by the U.S. Department of Commerce include: Canfor: 7.72 percent; Resolute: 4.59 percent; Tolko: 7.53 percent; West Fraser: 6.76 percent; All others: 6.87 percent. Click Read More below for additional detail.
Neenah Paper, Inc. today announced it had signed a definitive agreement to purchase all of the outstanding equity of W.A. Sanders Coldenhove Holding B.V. (“Coldenhove”). Coldenhove is a specialty materials manufacturer based in the Netherlands, with a leading position in digital transfer media and other technical products.
Coldenhove has annual sales of over $45 million with EBITDA of approximately $6 million. The company’s advanced media is a critical component used in dye sublimation, a growing method of digital image transfer. The purchase price is expected to be approximately $45 million, subject to final closing adjustments, and will be financed with available cash and short term borrowings. Closing is expected to occur on November 1, and is subject to customary conditions.
“This acquisition adds to our technical products portfolio with products, technologies and a customer base that nicely complement our existing digital transfer business, further accelerating our participation in profitable growing markets,” said John O’Donnell, Chief Executive Officer. “From a financial perspective, the investment provides an attractive return on capital, is immediately accretive, and will deliver mid-teen EBITDA margins in a growing market.”