International Paper Announces Price Increase on UFR Products

Resolute Forest Products Inc. announced its commitment to reduce absolute greenhouse gas (GHG) emissions (scope 1 and 2) by 30% against 2015 levels by 2025. This new target builds on the company's 83% reduction in absolute GHG emissions from year-2000 levels, two-thirds of which reflect reductions in emission intensity. By achieving its target, the company will have reduced its emissions by nearly 700,000 metric tons of CO2 equivalents per year compared to its 2015 level. Some of the more recent projects on which the company is relying to achieve its commitment include: *an efficiency enhancement at the Saint-Félicien (Quebec) pulp mill to improve production capacity and reduce fossil-fuel use by up to 20%; *a modernization of the cogeneration turbine at the Coosa Pines (Alabama) pulp mill to reduce purchased electricity use by 6%; and *the installation of a sophisticated heat recovery unit at the Thunder Bay (Ontario) pulp and paper mill to recover waste heat and, as a result, decrease the use of fossil fuels by over 20%.

Resolute Forest Products Inc. reported net income for the quarter ended June 30 of $256 million, compared to net income of $268 million, in the same period in 2021. Sales were $1,058 million in the quarter, a decrease of $82 million from the year-ago period. Excluding special items, the company reported net income of $155 million, compared to net income of $300 million, in the second quarter of 2021. The company reported operating income of $217 million in the quarter, compared to $235 million in the first quarter. The $18 million variation mainly reflects higher shipments ($47 million) across all segments, more than offset by higher manufacturing costs ($55 million), mainly related to fiber ($25 million) and maintenance ($19 million) costs, as well as energy prices ($7 million).

Paper Excellence has recently invested more than $600,000 in engineering and consulting work focused on restarting the Prince Albert pulp mill. Paper Excellence originally purchased the Prince Albert pulp mill in 2011. It now plans to restart the facility as soon as possible once the current non-compete agreement with the former owner expires in March 2021. “We plan to replace the entire fibre line from the digester to the last bleaching stage. This will replace the heart of the mill and let us take full advantage of the existing recovery boiler which is one of the most modern in Canada,” explains Carlo Dal Monte, Vice President, Energy & Business Development. “While this is an expensive strategy, it will simplify construction and minimize commissioning risks. Once we are up and running, we will also realize a significant improvement in product quality, operating costs and environmental performance compared to the mill that was shut down in 2006.”