UPM Raflatac appoints Philip Coates as Key Account Director

Highlights *Fourth quarter 2023 net loss from continuing operations was $21.6 million or $0.12 per share (diluted), compared to net earnings of $2.7 million or earnings of $0.01 per share (diluted) in the third quarter of 2023. For fiscal 2023, net loss from continuing operations was $48.8 million or $0.27 per share (diluted), compared to a net loss of $4.1 million or $0.02 per share (diluted) in 2022 on the same basis. *Average lumber prices for Q4 2023 were lower than Q3 2023, with an average selling price of $611/mfbm compared to $642/mfbm in Q3 2023. There was strong pricing momentum in the first half of Q3 2023 due to supply related concerns, which benefited results at the beginning of the third quarter. Despite lower prices, volumes in Q4 2023 were higher than Q3 2023 due to increased demand in the latter half of Q4 driven by positive trends in US housing starts and the central banks indicating a pause of further interest rate hikes. *The valuation provision for lumber and log inventory was decreased to $4.3 million from $8.7 million at the end of Q4 2022, generating a $4.4 million credit to cost of sales in fiscal 2023. *US Department of Commerce’s (“US DOC”) Final Determination of its Fourth Administrative Review resulted in a final duty rate of 8.05%. The Company stands to benefit from an approximate US$6.9 million (CAD$9.2 million) recovery on duties paid in 2021, as recorded in 2023. Additionally, the ongoing lower duty rate has positively impacted the Company’s earnings and free cash flow since August 1, 2023.

Walk into the absorbent hygiene section of your local pharmacy or grocery store and you’ll see our Engineered Absorbent Materials (EAM) airlaid products everywhere. “We produce absorbent cores for many hygiene products including diapers, adult incontinence products, sanitary napkins and bed pads used in hospitals and nursing homes,” says EAM facility manager Kim Sumner. EAM is poised for continued growth and success for many years to come thanks to an expansion project announced earlier this year that will add a large-scale airlaid nonwovens production line to the Jesup, Ga.–based facility. When complete in 2022, the expansion will make Domtar the second-largest airlaid supplier in the United States and third-largest in the world. Airlaid is a nonwoven material that falls between paper and textiles, according to Lori Venn, vice president of airlaid sales and marketing. Airlaid nonwoven products are widely used in today’s absorbent hygiene products because of their superior absorption properties.

Crown Van Gelder starts production of Crown Letsgo 3rd generation grades as of 1 February 2021. The Crown Letsgo 3rd generation grades will bring visible quality improvements in the print result of presses operating with pigment inks and provide the opportunity to improve the Total Cost of Print by reducing ink consumption (5-12%) and save on drying energy*. Crown Van Gelder will switch production for the following grades: *Crown Letsgo Universal; *Crown Letsgo Matte; *Crown Letsgo Silk and Bright Silk, ColorPRO branded version. Inkjet paper makes perfect sense, even now “substrate independent” solutions are offered by press manufacturers. For anyone wanting best runnability on their press, there is no alternative to good quality inkjet paper.