In 2022,EBITDA increased by 54% to Euro 55.5 million. Last year, the Group paid a total of Euro 35.3 million in taxes, of which Euro 24 million were paid in Latvia.
This action comes under the five-year (sunset) review process required by the Uruguay Round Agreements Act.
The company anticipates a decrease in full-year 2023 comparable EBIT compared to the previous year.
This notable rebound indicates a potential turning point after witnessing substantial declines in previous months.
The new facility will employ up to 265 team members and is expected to become operational by early 2025.
Boise Cascade reported net income of $96.7 million, or $2.43 per share, on sales of $1.5 billion for the Q1 ended March 31, 2023, compared with net income of $302.6 million, or $7.61 per share, on sales of $2.3 billion for the Q1 ended March 31, 2022.
Russian phenol producers have recently increased exports to Asia, reducing supplies to the domestic market.
UPM Plywood will begin employee negotiations involving 262 salaried employees in the staff and global functions, in the sales offices and in the Finnish mills. It is estimated that the maximum reduction is 35 positions.
Fibreboard production decreased by 22.8% to 141 million m2; and chipboard production fell by 9% to 2.561 million m3.
This new expansion will be in full operation in 2025.
U.S. imports from most countries are down, except for those from Canada and Ecuador.
Stora Enso's full-year 2023 operational EBIT was expected to be lower than for the full-year 2022 (Euro 1,891 million).
The total project represents the largest ever known investment in manufacturing in rural Oregon, and one of the largest private capital investments of any kind in the state’s history.
Henrik Ehrnrooth was elected as Chair, and Kim Wahl as Deputy Chair of the Board of Directors of UPM-Kymmene Corporation at the Board of Directors’ constitutive meeting that took place today following the Annual General Meeting.
Palmer-Donavin has acquired Diamond Hill Plywood, a major wholesale distributor of building materials. The company has five distribution centers in Virginia, Tennessee, and the Carolinas, serving customers throughout the Southeast.
In February 2023 the value of Brazilian exports of woodbased products (except pulp and paper) decreased 36% in value compared to February 2022, from US$413.6 million to US$264.2 million.
Price for plywood exported from Russia to the U.S. slipped 3%.
In Russia, UPM owned the Chudovo plywood mill in the Novgorod region. Chudovo produces birch plywood for construction, transport engineering and gas tankers. In 2021, the plant's revenue reached 8.2 billion rubles (about $105 million).
UPM has completed withdrawal of its businesses from Russia by selling all its Russian operations, including the Chudovo plywood mill, to Gungnir Wooden Products Trading. The parties have agreed not to disclose the details of the transaction.
Fibreboard production decreased by 21.2% to 93.2 million m2; and chipboard production fell by 13.3 % to 1.62 million m3.