Canfor Pulp’s Northwood Pulp Mill to Resume Operations

Domtar Corporation reported a net loss of $92 million for the third quarter of 2020 compared to net earnings of $19 million for the second quarter of 2020 and net earnings of $20 million for the third quarter of 2019. Sales for the third quarter of 2020 were $1.1 billion. Operating loss was $136 million in the third quarter of 2020 compared to operating income of $14 million in the second quarter of 2020. Depreciation and amortization totaled $71 million in the third quarter of 2020. Operating income before items1 was $43 million in the third quarter of 2020 compared to operating income before items1 of $15 million in the second quarter of 2020. When compared to the second quarter of 2020, manufactured paper shipments were up 20% and pulp shipments decreased 7%. The shipment-to-production ratio for paper was 105% in the third and second quarters of 2020. Paper inventories decreased by 20,000 tons, and pulp inventories increased by 38,000 metric tons when compared to the second quarter of 2020.

Net sales were SEK 5 897 million (5 636), an increase of 5% mainly as a result of increased selling prices. EBITDA was SEK 1 065 million (923), an increase of 15% mainly as a result of increased selling prices, which were partly offset by higher wood prices. Adjusted EBITDA was SEK 1 102 million (938), an increase of 17%. The adjusted operating margin was 12% (10%). Adjusted operating profit was SEK 729 million (572), an increase of 27%. Earnings per share amounted to SEK 2.40 (1.94). Click Read More below for additional information.

KP Tissue Inc. announced that Mr. Mario Gosselin has decided to retire from his position as Chief Executive Officer of KP Tissue and Kruger Products L.P. as of March 8, 2018, and that Mr. Dino Bianco will succeed him. Mr. Gosselin began his career with Kruger Inc. almost 40 years ago and has held a number of senior positions with the group in both Canada and the U.K. Mr. Gosselin was appointed CEO of KPLP in October 2012. "Although Mario has achieved many accomplishments throughout his career, he will be remembered above all for his leadership, the successful implementation of many capital projects including the TAD Project in Memphis, the seamless transition to a public company and growing KPLP's sales from $923 million in 2012 to $1.2 billion in 2016. On behalf of the Board and of all the employees, I would like to sincerely thank Mario for his exceptional contributions," said Mr. Joseph Kruger II, Chairman of Kruger Products. Click Read More below for additional information.