Catalyst Paper Disappointed with U.S. Department of Commerce’s Preliminary Anti-Dumping Decision

Catalyst Paper will continue to vigorously defend itself against an unwarranted and onerous U.S. trade action following today’s disappointing decision by the U.S. Department of Commerce that it will impose a 22.16% anti-dumping duty deposit on the company’s exports of uncoated groundwood paper products. Uncoated groundwood directory paper was excluded from the duty.

“We are very disappointed with this decision,” says Ned Dwyer, President & Chief Executive Officer. “This U.S. trade action is unwarranted and without merit.”

The DOC’s preliminary anti-dumping determination follows a Preliminary Determination made on January 8, 2018 that requires Catalyst to pay a 6.09% countervailing duty deposit on its exports of uncoated groundwood paper products. The Final Determination of both the countervailing duty and anti-dumping duty is expected on or around August 2, 2018.

Uncoated groundwood paper is a printing and writing grade of paper used in the production of paper products such as newspapers, directories, flyers, catalogues and books, and is produced at our Canadian mills

“Even with the exemption of directory paper, the remaining anti-dumping and countervailing duties are onerous and a critical cost challenge for Catalyst,” says Dwyer. “They pose a threat to our competitiveness and the sustainability of our business and we will continue to vigorously defend ourselves against them.”
https://www.catalystpaper.com/media/news/corporate/catalyst-paper-disappointed-us-department-commerces-preliminary-anti-dumping

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JANUARY 1 – MARCH 31, 2018 (compared with the year-earlier period) •Net sales increased 11% to SEK 4,400m (3,972). Sales growth was mainly related to higher prices in the industrial units. •EBITDA rose 47% to SEK 1,175m (797). The improvement in EBITDA was mainly related to higher prices in Wood, Pulp and Kraftliner, and an improved market and product mix. •EBITDA margin increased to 26.7% (20.1) •Earnings per share amounted to SEK 1.00 (0.52) •Operating cash flow, which excludes strategic capital expenditures, rose to SEK 591m (85). Strategic capital expenditures amounted to SEK 634m (515) and relates to the Östrand investment which proceeds according to plan. Click Read More below for additional information.
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