Boise Paper launches new digital papers program

Expera Coated Products announced today a new brand of liners used in the manufacture of Advanced Composites. AeroBak™ liners are designed with specific properties and performance characteristics to meet the extreme challenges encountered during the manufacture and delivery of prepreg. These properties represent years of development of both the base sheet and the coatings. “Expera Coated Products’ AeroBak™ liners deliver solutions to the market using unique technologies that extend our products beyond traditional release liners,” explained Harry Challender, Vice President of Expera Coated Products. “Through collaboration, our team leverages the depth of experience we have in both paper and coating technologies to provide a distinct product to address individual requirements. Expera Coated Products is committed to this industry as witnessed by our recent investment in capacity designed around the unique needs of the composite market.” Click Read More below for additional information.

Highlights *Fourth quarter 2023 net loss from continuing operations was $21.6 million or $0.12 per share (diluted), compared to net earnings of $2.7 million or earnings of $0.01 per share (diluted) in the third quarter of 2023. For fiscal 2023, net loss from continuing operations was $48.8 million or $0.27 per share (diluted), compared to a net loss of $4.1 million or $0.02 per share (diluted) in 2022 on the same basis. *Average lumber prices for Q4 2023 were lower than Q3 2023, with an average selling price of $611/mfbm compared to $642/mfbm in Q3 2023. There was strong pricing momentum in the first half of Q3 2023 due to supply related concerns, which benefited results at the beginning of the third quarter. Despite lower prices, volumes in Q4 2023 were higher than Q3 2023 due to increased demand in the latter half of Q4 driven by positive trends in US housing starts and the central banks indicating a pause of further interest rate hikes. *The valuation provision for lumber and log inventory was decreased to $4.3 million from $8.7 million at the end of Q4 2022, generating a $4.4 million credit to cost of sales in fiscal 2023. *US Department of Commerce’s (“US DOC”) Final Determination of its Fourth Administrative Review resulted in a final duty rate of 8.05%. The Company stands to benefit from an approximate US$6.9 million (CAD$9.2 million) recovery on duties paid in 2021, as recorded in 2023. Additionally, the ongoing lower duty rate has positively impacted the Company’s earnings and free cash flow since August 1, 2023.

A hearing ended Monday after nearly seven hours of discussion, to decide the future of Appleton Coated and its more than 600 workers. It looks like the future could be a little bit brighter for those workers. During Monday's hearing the judge was supposed to either approve of the $21 million purchase agreement or deny the sale. However, some changes were made to those original purchase agreements after a different offer came through from the employee union and a lending firm. "We will work to do our very best to provide an operating budget to each of the steelworkers and the receiver. We will work very hard. That's not a guarantee, but if it's not done by the end of the day tomorrow it will be done the following day," explained Mark Friedlander, Industrial Assets attorney. Now, Industrial Assets says it will pay $20 million , with more money to provide an operating budget to keep the plant open for 45 days. Over those 45 days Appleton Coated will run with only 200 employees to fulfill current orders. The mill typically employs more than 600 people. Click Read More below for more of the story.