Interfor Reports Q3’22 Results

Total European shipments of graphic papers in June 2022 were down 16.4% vs. 2021 and are down 10.2% year-to-date. Total European shipments of newsprint in June 2022 were down 10.7% vs. 2021 and are down 6.9% year-to-date. Total European shipments of sc-magazine in June 2022 were down 20.2% vs. 2021 and are down 11.2% year-to-date. Total European shipments of coated mechanical reels in June 2022 were down 28.1% vs. 2021 and are down 21.0% year-to-date. Total European shipments of uncoated mechanical (improved & others) in June 2022 were down 22.2% vs. 2021 and are down 12.3% year-to-date. Total European shipments of coated woodfree in June 2022 were down 8.8% vs. 2021 and are UP 0.6% year-to-date. Total European shipments of uncoated woodfree in June 2022 were down 14.8% vs. 2021 and are down 11.8% year-to-date.

Interfor Corporation announced plans to reduce its lumber production output in the first quarter of 2023 by at least 100 million board feet, or 8% of quarterly capacity, as economic conditions and market uncertainty continue to impact lumber demand. This temporary reduction in output is expected to be mostly concentrated outside of Interfor’s US South operating region. The Company currently expects to resume its normal operating schedule in April 2023, but will closely monitor market conditions and adjust its production plans accordingly

Due to large increases in key input material costs, including over a two-fold increase in colorformers to ensure an uninterrupted supply, that cannot be offset by our on-going internal continuous improvements, cost reductions, and operating excellence efforts, Glatfelter is announcing a price increase for carbonless roll products, carbonless sheet products and security papers sold in our United States and Canadian markets. The increase will be effective with shipments on or after January 15, 2018. The increase will be 6% for the following items: All Glatfelter Carbonless Roll products; Carbonless Roll Accessories (CF and CB Sprays); Defensa® Security CB products; All Glatfelter Carbonless Sheet Products; Fan-Apart Adhesive. The increase will be $4.00/cwt for the following item: Defensa® Basic. The increase will be $5.00/cwt for the following items: Defensa® Premium Defensa® Design; Defensa® Security Gate Defensa® True. All current standard differentials and upcharges remain in effect.