Sawmills throughout the U.S. and Canada achieved dismal operating results in 2006 where the profits at average mills were barely positive and slipped into negative territory in the second quarter of 2007, when lumber prices collapsed to below the cost of production. The cost of logs delivered to the mills has generally been rising in North America and, in conjunction with low lumber prices, has caused sawmills to incur deep operating losses not seen since 1991. These and other findings were released today in the latest issue of a report published by International WOOD Markets, PricewaterhouseCoopers, and The Beck Group. The report, titled Global Lumber/Sawnwood Cost Benchmarking Report—2006 and 2007 Q2, is the most comprehensive compilation available on global timber, lumber and sawnwood cost benchmarking, covering over 170 sawmills in 29 major forest products producing regions of the world. mehr...
Stora Enso has today acquired 28% of the shares in Stora Enso Poland (formerly Intercell S.A.) from the State of Poland at a price of EUR 64 million. Following this acquisition, Stora Enso holds 95% of the shares in the company. The remaining shares, owned by the Polish State, will be distributed to current and retired employees of Stora Enso Poland. Stora Enso intends to purchase these remaining shares as soon as feasible. The total purchase cost of the initial 66% shareholding acquired in 2004 and today's acquisition is EUR 194 million. The enterprise value of the acquisition on a cash- and debt-free basis for the whole of Stora Enso Poland is approximately EUR 149 million. Stora Enso Poland's sales in 2006 were EUR 194 million. mehr...
International Paper (NYSE: IP) has signed a definitive agreement to sell 13 lumber mills to West Fraser Timber Co. Ltd. for approximately $325 million in cash, subject to certain adjustments. The transaction is expected to close in the first quarter of 2007, subject to various closing conditions including receipt of regulatory approvals and other customary conditions. mehr...
Coillte today formally announced its acquisition of Weyerhaeuser Europe Limited, the Clonmel based manufacturer of medium density fibreboard (MDF). The acquisition had been cleared by the Competition Authority on 10 November. This move further enhances Coillte’s position as a leading player in the European wood panels sector, offering high quality, cost effective products supported by strong customer service and product innovation. mehr...
Nationwide housing starts in September regained the ground they lost in a steep decline the previous month, but issuance of building permits - a key indicator of future building activity - continued on a downward trend, according to numbers released by the U.S. Census Department today. mehr...
