Resolute Forest Products Announces Newsprint Price Increase
We are announcing a US$22/metric tonne (for 45.0 gsm) newsprint price increase effective with shipments on or after June 15, 2018. Other basis weights will be adjusted accordingly.
Please note that this price increase does not apply to Ponderay Newsprint Company.
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Foundation stone of the Metsä Wood’s birch plywood mill laid in Pärnu, Estonia
The foundation stone of Metsä Wood’s new birch plywood mill was laid in Pärnu, Estonia. The greetings in the ceremony were delivered by the Minister of Public Administration of Estonia Mr. Jaak Aab and the President and CEO of Metsä Group Mr. Kari Jordan. “This is an important investment for Metsä Wood and the whole Metsä Group. It is done to better meet the globally growing plywood demand and to further improve Metsä Wood’s industrial efficiency. The new mill is a good example of Finnish-Estonian cooperation. Estonia has favourable business climate and it offers good logistical connections to our main markets.” said CEO of Metsä Group Kari Jordan in today’s ceremony. The annual birch plywood production capacity at the Pärnu mill will be 50 000 cubic metres and the total investment is approximately 55 million euros. Click Read More below for additional detail.
U.S. to issue import duties on Canadian softwood lumber
The U.S. Department of Commerce announced Thursday it will impose countervailing and antidumping import duties on several Canadian softwood lumber firms. Commerce Secretary Wilbur Ross said the department determined Canada is providing unfair subsidies to its producers of softwood lumber at rates from 3.34 percent to 18.19 percent and has sold softwood lumber to the United States at 3.20 percent to 8.89 percent less than fair value. "While I am disappointed that a negotiated agreement could not be made between domestic and Canadian softwood producers, the United States is committed to free, fair and reciprocal trade with Canada," Ross said. As a result of the findings, Commerce instructed U.S. Customs and Border Protection to collect import duties averaging 20.83 percentt on Canadian lumber imports. Click Read More below for additional information.