NORPAC Announces Price Increase on Newsprint Products for US

In June UPM announced plans to permanently close its Jyväskylä plywood mill. The employee consultation processes regarding the plan have now been completed. UPM Jyväskylä plywood mill will be permanently closed on 31.07.2020. The reduction of personnel is 147 people. The planned actions will strengthen UPM Plywood’s overall competitiveness and performance in the long run. UPM will recognise restructuring charges of approximately EUR 22 million as items affecting comparability in its Q2 2020 results. The planned actions would result in annual savings of approximately EUR 11 million.

Mercer International Inc. reported strong results for the fourth quarter and year ended December 31, 2017. Operating EBITDA* in the fourth quarter of 2017 increased by 54% to a record $89.1 million compared to $57.8 million in the fourth quarter of 2016 and by 39% from $64.0 million in the prior quarter of 2017. For 2017, Operating EBITDA increased by approximately 36% to $252.3 million from $185.7 million in 2016. For the fourth quarter of 2017, our net income was $41.7 million, or $0.64 per basic and diluted share, compared to $18.5 million, or $0.29 per basic and $0.28 per diluted share, in the fourth quarter of 2016 and $21.1 million, or $0.33 per basic and $0.32 per diluted share, in the prior quarter of 2017. For 2017, net income was $70.5 million, or $1.09 per basic and $1.08 per diluted share, after giving effect to a loss on the early settlement of debt of $10.7 million (or $0.16 per basic and diluted share), compared to $34.9 million, or $0.54 per basic and diluted share, in 2016. Click Read More below for additional information.

Iggesund Sawmill is being modernised to allow for an increase in production. Holmen is currently investing SEK 70 million in a new drying plant which will increase its drying capacity from 400 000 to 500 000 m3. The new drying plant is what is known as a tunnel dryer. It is much more energy efficient than the old kiln dryers which it will partly replace. The greater drying capacity will primarily be used for dried wood products for the joinery industry. In addition to investing in new dryers, the group had previously agreed to invest in land for timber storage and warehouse space.