Canfor Corporation (TSX:CFP), further to its announcement on November 9, 2018, completed the purchase of Elliott Sawmilling Company Inc. (“Elliott”) on May 31, 2020.
Elliott adds over 210 million board feet of production capacity.
https://www.canfor.com/docs/default-source/news-2020/nr2020-06-01-canfor-elliott-acquisition-news-release.pdf?sfvrsn=41bee91_2
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Management Summary from Chairman and Chief Executive Officer Jean-Michel Ribiéras: We delivered strong earnings with a 20% adjusted EBITDA margin and outstanding free cash flow in the third quarter, driven by solid operational performance, good commercial execution and stable input costs. The quarter also had no planned maintenance outages. On Oct. 31, we announced we are mutually terminating a supply agreement for uncoated freesheet, bristols and specialty papers from International Paper’s Georgetown, South Carolina, mill, effective Dec. 31, 2024. We will continue to optimize our North America region by leveraging strategic initiatives to simplify the business, unlock efficiencies and drive earnings growth. We have seen encouraging increases in industry demand across our regions and expect recent capacity reduction announcements to lead to more favorable supply and demand balance trends in 2025. We are confident in our strategy to grow earnings and cash flow by continuing to invest in high-return projects in our mills and processes.
The company will exhibit its full range of premium coated and uncoated papers for the publishing industry.
Once again, Lecta will attend the Frankfurt Book Fair, October 11th to 15th, bringing together professionals worldwide at the largest publishing event of the year.
This year, Lecta will present its new book "Vertical", a suggestive series of photographs taken vertically from a variety of perspectives and distances. The book is printed on Lecta's premium range of publishing papers, showing the excellent print results that can be achieved on a number of different papers. Click Read More below for additional detail.
Total European shipments of graphic papers in September 2020 were down 15.0% vs. September 2019 and year-to-date shipments are down 20.0%. Total European shipments of newsprint in September 2020 were down 14.8% vs. September 2019 and year-to-date shipments are down 18.0%. Total European shipments of sc-magazine in September 2020 were down 12.1% vs. September 2019 and year-to-date shipments are down 19.1%. Total European shipments of coated mechanical reels in September 2020 were down 23.4% vs. September 2019 and year-to-date shipments are down 27.6%. Total European shipments of uncoated mechanical (improved & others) in September 2020 were down 2.6% vs. September 2019 and year-to-date shipments are down 9.0%. Total European shipments of coated woodfree in September 2020 were down 23.0% vs. September 2019 and year-to-date shipments are down 26.4%. Total European shipments of uncoated woodfree in September 2020 were down 7.1% vs. September 2019 and year-to-date shipments are down 14.9%.