New U.S. Duties Threaten New Brunswick Forestry Sector

Financial Highlights – Second Quarter vs. First Quarter *Net income of $83 million ($1.98 per diluted share) vs. $43 million ($1.02 per diluted share) *Cash provided by operating activities of $115 million vs. $27 million. Management Summary from Chairman and Chief Executive Officer Jean-Michel Ribiéras: "In the second quarter, price and mix were favorable and input costs largely remained stable compared to last quarter. Uncoated freesheet conditions improved in the first half of the year, with year-over-year demand up in Europe and North America and down slightly in Latin America. After successfully completing our heaviest planned maintenance outage quarter of 2024, we have more than 70% of our annual planned maintenance outages behind us."

Five years ago this week, many in the Strait of Canso area breathed a collective sigh of relief when its largest single employer restarted production after a yearlong shutdown. The reopening of what is now Port Hawkesbury Paper came after a year of legal wrangling and negotiations with the various groups that have a stake in the future of the mill, formerly NewPage Port Hawkesbury, which had shut down when its parent company filed for bankruptcy protection in the United States. It’s a very different company than when it shut down in September 2011. Only one of the mill’s two paper machines — the newer supercalendered machine that produces paper for the magazine and catalogue market — went back into production, cutting the number of employees by about half to around 300. Click Read More below for more of the story.

WSBC’s mission is to advance sustainable principles and practices through the power of business. WSBC supports businesses and sustainability professionals through an array of programming, education, resources, and tools and is a catalyst for organizations looking to integrate sustainability into the fabric of their organizations. “As the demand for sustainability continues to shape our industry, brands and consumers are looking for supply chain partners that offer sustainable products and solutions,” said Renée Yardley, Senior Vice President of Sales and Marketing. “When businesses work together to provide sustainable recycled paper products, brand’s sustainability goals are achieved, driving sustainability to consumers and ultimately better for our planet.”