In a remarkable turnaround story, Georgia-Pacific’s Monticello linerboard mill exceeded 1 million tons of production in 2024—an achievement shared by only a handful of facilities across North America.
Monticello Mill Hits 1M Tons After Bottom-Up Culture Shift
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The EU has today released a report related to a Trade Barrier Regulation ("TBR") investigation launched following a complaint submitted by CEPI, the European association representing the paper industry. The report upheld the complaint finding that the measures imposed by Turkey on the imports of certain varieties of paper such as office paper, books, envelopes and paper used for direct mail marketing (otherwise known as uncoated wood free (“UWF”) paper) from the EU were inconsistent with both WTO and the EU-Turkey Customs Union rules. “CEPI takes pride in its strong commitment to free trade with its partners. The decision by the Turkish authorities to remove these unfair measures is applaudable; however this issue should never have been escalated in the first place. It is our expectation that the Turkish authorities stand by their obligations under the EU-Turkey Customs Union Agreement in the future” says Sylvain Lhôte, Director General at CEPI. Click Read More below for additional information.
Second Quarter of 2022 Highlights *Second quarter 2022 (“Q2 2022”) net earnings were $29.5 million or $0.15 per share (diluted), compared to $34.0 million or $ 0.18 per share in the first quarter of 2022 (“Q1 2022”). This was the Company’s third full quarter operating its acquired forest-products assets. *Lumber pricing remained strong in Q2 2022, with an average selling price of $1,255/mfbm compared to $1,325/mfbm in Q1 2022. Rising interest rates and inflation headwinds, coupled with macro supply tightening and the risk of disruptions to lumber supply underlies our expectation of continued volatility in lumber prices. *The Company made a voluntary repayment of US$8.9 million on its outstanding term debt during the second quarter of 2022. *Asset-backed revolving loan facility of $65.0 million was undrawn at quarter end and has remained undrawn at August 10, 2022. Strong operating cash flow continues to fund working capital needs. Cash and equivalents ended Q2 2022 with a balance of $74.2 million.