The operations of Metsä Group’s only production unit in Russia, the Svir sawmill, have been suspended. Wood procurement in Russia for the Svir sawmill and imports to Metsä Group’s Finnish and Swedish mills has also been discontinued.
https://www.metsagroup.com/en/media/all-news/Pages/News.aspx?EncryptedId=8A8E86855E542149&Title=MetsaGroupsoperationsinRussiawillbediscontinuedforthetimebeing
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Overview • Record-high 2021 operating income before adjusting items of $2.2 billion; adjusted shareholder net income of $1.5 billion, or $12.16 per share • Fourth quarter of 2021 adjusted operating income of $216 million; adjusted shareholder net income of $155 million or $1.24 per share • 2021 includes impairment charges totaling $294 million or $1.47 per share, resulting in reported operating income of $1.9 billion for the year, net shareholder income of $1.3 billion or $10.74 per share; fourth quarter of 2021 operating loss of $67 million, net shareholder loss of $23 million or $0.19 per share • Completed acquisition of Millar Western Forest Products Ltd.’s (“Millar Western”) solid wood operations and associated tenure located in Alberta, Canada, for $420 million, including an estimated $56 million in working capital, adding 630 million board feet to Canfor’s annual production capacity • Announced sale of Mackenzie forest tenure and sawmill assets for combined proceeds of $70 million
Consolidated net sales increased 10 percent to a record $266.5 million in the first quarter of 2018 compared with $242.1 million in the first quarter of 2017. Revenue gains resulted from higher volumes, both organic and with the November 2017 Coldenhove acquisition, a higher-priced sales mix, increased selling prices and favorable currency effects. Operating income of $24.1 million in 2018 decreased 11 percent from $27.0 million in 2017. Income benefited from volume growth, a higher value mix, increased selling prices and currency, but was more than offset by higher input and distribution costs. Click Read More below for additional information.
American Forest & Paper Association (AF&PA) President and CEO Heidi Brock issued the following statement regarding the Environmental Protection Agency’s (EPA) Boiler Maximum Achievable Control Technology (MACT) proposed rule: “AF&PA is pleased the EPA has moved forward in proposing an achievable Boiler Maximum Achievable Control Technology (MACT) rule. This is the result of more than two decades of work that gives the forest products industry regulatory certainty while encouraging the use of renewable, carbon-neutral fuel. “While limits for several boiler types have become more stringent, we believe they are feasible and affordable. Already, to date, our industry has invested $1 billion in controls to meet Boiler MACT obligations.