Canfor Corporation (TSX:CFP) announced today it will curtail operations at its Polar Sawmill located in Bear Lake British Columbia, north of Prince George, following an orderly wind-down. The curtailment is the result of a shortage of economically available fibre in the region and is expected to be in place for a period of approximately six months. The Company will continue to evaluate market conditions and fibre availability in the region and adjust operations accordingly.
https://www.canfor.com/investor-relations/investor-news-press-releases/news-detail/2023/11/14/canfor-announces-extended-curtailment-at-polar-sawmill
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Wednesday, 1/10/18, the Government of Canada launched a complaint against the United States challenging Washington’s use of anti-dumping and anti-subsidy duties. Canada said U.S. procedures broke the World Trade Organization’s (WTO) Anti-Dumping Agreement, the Agreement on Subsidies and Countervailing Measures, the General Agreement on Tariffs and Trade, and the Understanding on Rules and Procedures Governing the Settlement of Disputes. “These rates tabled last night by the U.S. on uncoated groundwood paper represent the third action that stands to hurt hard working men and women in our mill communities across Canada,” says Derek Nighbor, CEO, Forest Products Association of Canada. “These duties are unwarranted and without merit and we 100% support the federal government’s “WTO filing” position. Canada and the U.S. share a longstanding and important relationship, but in the face of these unfounded trade actions it’s important that our government defends Canada’s interests”.
Q1 2021 highlights • Sales decreased by 2% to EUR 2,234 million (2,287 million in Q1 2020) mainly due to lower prices of graphic papers and unfavourable changes in currencies • Comparable EBIT was EUR 279 million, 12.5% of sales (279 million, 12.2%), in line with last year • Pulp demand continued to be good and pulp prices increased rapidly. Strong markets continued for labelling materials, specialty papers and energy • Operating cash flow increased to EUR 217 million (137 million) • Strong financial position continues. Net debt was EUR 83 million (-405) and cash funds and unused committed credit facilities totalled EUR 3.2 billion at the end of Q1 2021 • UPM issued a EUR 500 million Green Bond under the EMTN programme in March
Paper Excellence announced today that it is nearing completion of a significant project to winterize the pulp mill at Prince Albert Pulp Inc (PAPI). Winterizing the mill means that the interior of the mill is now heated for the first time since 2014, when the site last operated. The project will cost approximately $500,000. “Winterizing and heating the interior of the mill is another step forward as we keep working on restarting PAPI,” said Carlo Dal Monte, VP of Energy and Business Development for Paper Excellence. “As we all know, Prince Albert winters can be very cold, so being able to heat the interior of the mill means a safer working environment for our team and contractors that may be on site with us. Winterizing the mill also helps to prevent weather-related damage to the exterior of the mill and important infrastructure inside.”