Canadian Forest Sector Disappointed With Final U.S. Softwood Lumber Duties

Third Quarter Highlights: On August 28, 2021 completed the acquisition of sawmill and newsprint assets from certain Canadian subsidiaries of Rayonier Advanced Materials Inc. in Ontario and Quebec. *The mills continue to operate as ‘business as usual’ as Management focuses on setting up its back-office functions in North Bay and Toronto. *Q3 results includes only 4 weeks of operating results for the newly acquired operations. *Q3 2021 reported a negative Adjusted EBITDA of $4,736 after adjusting for acquisition related expenses. *Q3 2021 net loss of $13,486 ($0.16 loss per share) includes the expensing of transaction costs. *Lumber markets have rebounded in September and October from the low prices in August.

Solenis, a leading producer of specialty chemicals, marked its 10th anniversary by launching a new brand identity. Updated brand elements reflect the company’s continued growth and vision while establishing a cohesive look for its growing global portfolio, which includes Diversey, a leading brand for hygiene, infection prevention and cleaning products and technology. “This bold new look heralds the next era in our progression,” said John Panichella, CEO. “Just ten years ago, we launched Solenis from our legacy brand, Ashland Water Technologies. Now, we stand strong as a diversified, worldwide brand forging a path that leads customers to achieve their operational and sustainability goals.” The company’s evolution is firmly rooted in more than 100 years of solving complex operational and sustainability challenges. Solenis legacy brands include Ashland, Drew and Hercules among others.

January–June 2023 (1–6/2022) *Sales were EUR 3,116 million (3,416). *Operating result was EUR 402 million (589). Comparable operating result was EUR 380 million (574). *Net cash flow from operations was EUR 18 million (456). April–June 2023 (4–6/2022) *Sales were EUR 1,481 million (1,822). *Operating result was EUR 127 million (248). Comparable operating result was EUR 104 million (330). *Comparable return on capital employed was 5.9% (20.5). *Net cash flow from operations was EUR -19 million (321).