Category: Companies in the timber industry

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B.C.’s big 3 lumber giants still making good profits
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B.C.’s big 3 lumber giants still making good profits

B.C.’s big three forestry giants had lumber and other wood product sales of $6.5 billion in the second quarter of 2022, and net income of $1.4 billion, according to second quarter financials. While second quarter earnings were down compared to Q1, due to lower lumber prices, demand and prices for lumber were still strong in...

West Fraser Timber to cut production capacity at three mills in Canada
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West Fraser Timber to cut production capacity at three mills in Canada

West Fraser Timber is permanently curtailing approximately 170 million board feet of combined production at its Fraser Lake and Williams Lake sawmills and approximately 85 million square feet of plywood production at its Quesnel Plywood mill in Canada.  The curtailments will be realized through the elimination of one shift at each facility. The reduction in capacity...

Kährs evaluates possible divestment of its operations in Russia
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Kährs evaluates possible divestment of its operations in Russia

Kährs has, due to the prevailing market conditions, started a process to evaluate the possibilities and conditions for divesting its operations in Russia. Already at the beginning of March 2022, Kährs decided to, in addition to sanctions, stop all investments as well as import and export flow from Europe to and from the company’s operations...

Homag’s order intake exceeds EUR 1 billion in H1/2022
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Homag’s order intake exceeds EUR 1 billion in H1/2022

In the first six months of 2022 (6M-2022), the Homag Group’s order intake increased by 18 percent compared to the already high previous year’s figure to EUR 1,031 million (6M-2021: EUR 872 million). This is the first time we exceeded the EUR 1 billion mark in a half-year,” emphasizes CEO Dr. Daniel Schmitt. “We were...

Drax increases stake in B.C. wood-pellet industry to 78%
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Drax increases stake in B.C. wood-pellet industry to 78%

The United-Kingdom-based power producer Drax Group Plc is increasing its hold on British Columbia’s wood-pellet industry with an agreement to buy its eighth production plant in the province. The company said this week it will buy Princeton Standard Pellet Corp., and provided that goes ahead, will add 90,000 tonnes-a-year of capacity to its existing production...

Latvijas Finieris plans to invest €67 million in birch plywood capacity expansion
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Latvijas Finieris plans to invest €67 million in birch plywood capacity expansion

The management of “Latvijas Finiera” has made a decision to start an ambitious expansion project of RSEZ SIA “Verems”, which is part of the concern, in Rēzekne district, the company informs. As part of this, the factory’s current birch plywood production capacity will be doubled, high value-added products will be developed and jobs will be...

U.S. cuts softwood tariffs in half for Canadian lumber as trade dispute continues
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U.S. cuts softwood tariffs in half for Canadian lumber as trade dispute continues

The US Commerce Department is cutting tariffs against most Canadian softwood lumber producers by half, but the long-running trade dispute rages on as Canada plans to appeal a decision to maintain punitive tariff rates. After an administrative review, the US Commerce Department said Thursday that it will reduce the tariff rate for most Canadian lumber...

Finland warns energy crisis could curb forest, chemical industry, close factories
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Finland warns energy crisis could curb forest, chemical industry, close factories

Finland’s forestry and chemical industry companies are currently doing everything they can to find alternatives to natural gas before winter and the worsening European gas crisis. According to the industry, it seems that there would be enough gas for their needs. However, it is still impossible to predict the price development. Finnish industry is surviving...

Egger reports record production levels; outlook challenging
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Egger reports record production levels; outlook challenging

Despite the challenging conditions Egger Group recorded a strong increase in sales turnover in 2021/2022 financial year. Group-wide sales of EUR 4,234.3 million (+37.4% compared to the previous year) and EBITDA of EUR 877.5 million (+41.0% compared to the previous year) were generated. The EBITDA margin is stable at 20.7% (previous year: 20.2%). “This increase in results...