KPLP Q2 2022 Business and Financial Highlights • Revenue was $397.5 million in Q2 2022 compared to $339.3 million in Q2 2021, an increase of $58.2 million or 17.1%. • Net loss was $35.5 million in Q2 2022 compared to net income of $2.2 million in Q2 2021, a decrease of $37.7 million. “We delivered another strong quarter of double-digit revenue growth in Q2 2022, but the depth, breadth and speed of inflation severely impacted our operating results and lowered profitability,” stated KP Tissue’s Chief Executive Officer, Dino Bianco. “We expect a partial recovery in the third quarter as successive pricing increases begin catching up with the inflationary curve, productivity gains are felt at our Memphis operations, and extensive cost management initiatives take effect. By the end of the fourth quarter, we anticipate a full recovery based on peaked pulp prices and reduced freight rates along with additional pricing adjustments. Consequently, we are highly confident about returning to a normalized margin in the near term.”
Georgia–Pacific Tuesday announced it will build a new softwood lumber production facility in Warren County, Georgia, on property adjacent to its existing lumber mill.
Construction of the $135 million, 340,000-square foot, technologically advanced plant is scheduled to begin in the summer of 2018 with an anticipated startup in spring 2019. Georgia-Pacific’s existing lumber plant in Warren County will continue full operations until the new facility is completed. After startup of the new plant, Georgia-Pacific estimates hiring an additional 30 to 40 employees, bringing its workforce in Warren County to approximately 150 people.
“We have enough property next to our existing mill in Warren County to build a larger facility equipped with the latest in lumber manufacturing technology,” said Fritz Mason, vice president and general manager, Georgia-Pacific Lumber. “We have a great team at Warrenton and building a new state-of-the-art facility on this site will make it competitive for years to come. The team has earned it.”
The new facility will be capable of over three times the output of the current facility. The existing facility has been operating since the early 1970s and technology in the lumber production business has changed significantly since that time.
Georgia-Pacific employs more than 7,200 people at 18 locations in Georgia. Those jobs create an additional 21,440 indirect jobs. Since 2006 the company has invested approximately $1.9 billion in additional capital and acquisitions in Georgia.