Imports of softwood bleached kraft pulp to China lost 22%.
Exports of fiberboard from Thailand decreased 18%.
Exports of lumber from Thailand decreased 7%.
The pellet production segment saw improvements with better margins.
The capacity increase of over 10% will be operational in the last quarter of 2024.
Adjusted EBITDA for Q2 2024 was $410 million, compared with $469 million for the same period last year and $352 million for Q1 2024.
U.S. mortgage rates show little movement.
The acquisitions are expected to deliver portfolio-leading cash flow and harvest tons per acre within the company's Southern Timberlands business.
Closing New York, Ontario facilities will not result in significant headcount reduction as the vast majority of employees will be relocated within the Company’s existing operations.
Operating profit totalled SEK 398 million ($36.7 million), representing an operating margin of 5%. Return on capital employed was 8% and the equity ratio was 60%.
Price for logs exported from Germany to China increased 7%.
The production index for sawmills and wood preservation industries fell 4.3% in the Q1 2024, after also falling 4.3% during the previous quarter. Compared to a year ago, production was 3.8% lower at the start of 2024.
U.S. Department of Commerce determines that certain imports of wooden cabinets and vanities and components thereof, are covered by the scope of the AD/CVD orders.
Work on site is expected to start in Q3 2024 and be completed in the end of 2025.
Rengo will strengthen cooperation between Shibata Cardboard and plants directly managed by Rengo as well as Rengo Group companies, so as to further enhance the Group's corrugated packaging business in eastern Aichi Prefecture and neighboring areas.
More than 350 employees to be laid off.