Catalyst Announces Price Increase for Uncoated Groundwood Grades

Effective with all shipments from February 1, 2018, we will increase the price of our Uncoated Free Sheet Offset Rolls by $2.00/cwt. This includes all mill branded as well as private labeled rolls. All standard up-charges and shipping policies remain in effect.

Irving Forest Products, which owns and operates wood processing facilities in Maine and New York State, will acquire the Masardis Sawmill in Masardis, Maine. The sale will close January 5, 2025. Previously owned by Groupe Lebel, the Masardis operation has a long history of producing random-length spruce and fir lumber. It currently employs 80 people and has the capacity to produce 115 million board feet annually. The sawmill is located within close proximity to Irving’s 1.3 million acres of timberlands in Maine. “We are excited to grow our lumber production capacity in the state of Maine,” said Jerome Pelletier, VP of Irving Forest Products. “The Masardis mill is well-located to access high-quality timber. It is also serviced by the Maine Northern Railway and benefits from having a team of highly skilled and dedicated employees who have worked together for decades to ensure the success of their operation.”

Norske Skog’s EBITDA in the first quarter of 2022 was NOK 610 million, an increase from NOK 422 million in the fourth quarter of 2021. Sales prices for all grades increased in the quarter as a consequence of unprecedented high energy costs in Europe and a tightened publication paper market situation. The European mills operated at full capacity during the quarter. The pellets facility Nature’s Flame was sold at a gain of NOK 175 million in the quarter. Cash flow from operations was NOK 196 million in the quarter compared to NOK 317 million in the previous quarter, positively impacted by the improved operating margins, but negatively impacted by change in working capital, being mainly an increase in trade and other receivables. Operating earnings in the first quarter of 2022 were NOK 593 million compared to operating earnings in the fourth quarter of 2021 of NOK 479 million. Net profit in the quarter was NOK 583 million compared to a net profit of NOK 400 million in the previous quarter. Net interest-bearing debt was NOK 924 million at the end of the first quarter, with an equity ratio of 37%.