RYAM Engages Houlihan Lokey to Explore Sale of Paperboard and High-Yield Pulp Assets

Interfor Corporation recorded net earnings in Q1’18 of $33.0 million, or $0.47 per share, compared to $36.2 million, or $0.52 per share in Q4’17 and $19.7 million, or $0.28 per share in Q1’17. Adjusted net earnings in Q1’18 were $36.8 million or $0.52 per share, compared to $45.1 million, or $0.64 per share in Q4’17 and $22.7 million, or $0.32 per share in Q1’17. Adjusted EBITDA was $81.1 million on sales of $527.6 million in Q1’18 versus $89.5 million on sales of $532.8 million in Q4’17. Click Read More below for additional information.

The construction of Empire Recycled Fiber mill in Fairless Hills, Pennsylvania is scheduled to commence this fall. The work on the mill project had started almost a year ago. The financing for the project is expected to close during Q3 2020. The construction works may take 12-14 months, thus gearing up for a 2022 startup. Upon full operations, the plant will employ approximately 110 full-time manufacturing employees. According to company press release, the mill will be constructed at an investment of $125 million. The facility will take in over 500,000 tons per year of recovered fiber and produce almost 440,000 tons per year of recycled paper pulp to be used as raw material by paper manufacturers.

After thorough analysis of the persistent shortage of economically available timber and challenging operating conditions in northern British Columbia, Canfor Corporation announced the permanent closure of its Polar sawmill in Bear Lake, BC and the suspension of its planned reinvestment in Houston, BC. This follows the announcement by our subsidiary company, Canfor Pulp, that one line of production will be indefinitely curtailed at the Northwood Pulp Mill. The Polar sawmill, with a production capacity of about 300 million board feet annually, has been curtailed since January 2024. The permanent closure will impact approximately 180 employees.