Forest Products Association of Canada (FPAC) released Innovative, Sustainable, Resilient: Recommendations from Canada’s Forest Sector to Drive Economic Recovery and a Net-Zero Carbon Future. The report, submitted to the federal government, outlines how Canadian forestry workers, forest management, and forest products can help kickstart a green economic recovery. At today’s launch, FPAC President and CEO, Derek Nighbor, issued the following statement: “In the face of rising COVID numbers in most parts of the country, Canadians continue to stare down the biggest health and economic crisis of our lifetimes. Last week’s announcement that the federal deficit is projected to hit $382 billion by March 2021 is a stark reminder of how daunting the recovery effort will be. We need to come together with solutions that will meet the needs of Canadian workers and their families and deliver jobs to communities that need them, while promoting innovation and our move to a lower-carbon economy."
Sappi North America announces a US$2.00/cwt transactional price increase on new and unconfirmed orders that book with confirmed delivery dates on or after Monday, November 20, 2017 on the following packaging products: LusterCote (all basis weights)
Please note that all new orders must be confirmed a minimum of 10 days prior to the commencement of the production run.
Rayonier Inc. reported second quarter net income attributable to Rayonier of $26.2 million, or $0.20 per share, on revenues of $194.7 million. This compares to net income attributable to Rayonier of $109.8 million, or $0.89 per share, on revenues of $261.6 million in the prior year quarter. The prior year second quarter results included $0.6 million of costs related to shareholder litigation1 and $101.3 million of income from a Large Disposition.2 Excluding these items, proforma net income3 was $9.1 million, or $0.07 per share, in the prior year period. Second quarter operating income was $46.9 million versus $121.6 million in the prior year period. The prior year second quarter operating income included $0.6 million of costs related to shareholder litigation1 and $101.3 million of income from a Large Disposition.2 Excluding these items, pro forma operating income3 was $20.9 million in the prior year period. Second quarter Adjusted EBITDA3 was $86.4 million versus $45.0 million in the prior year period. Click Read More below for additional detail.
Appvion, a Wynnchurch Capital, L.P. portfolio company, announced the addition of Nekoosa Coated Products, LLC to the platform. Headquartered in Nekoosa, Wisconsin, Nekoosa is a leading provider of specialty engineered materials for the graphics and commercial print markets in North America and Europe. Laurie Andriate, CEO of Appvion, said in a statement, “We are bringing together two great companies with complementary businesses and capabilities to accelerate growth and create additional value for our customers. I’m excited to welcome the Nekoosa team to Appvion.” “I’m excited for our teams as we move forward and write a new chapter together,” said Paul Charapata, CEO of Nekoosa. “We know each other well and will build upon our long history to proudly produce innovative products that help all our stakeholders succeed.”