World News | 9
West Fraser reports 61% rise in sales in Q2
West Fraser has announced its results for the second quarter of 2021 – results that include Norbord, which the company acquired earlier this year. Highlights for Q2 include a 61% increase in sales from the previous quarter, to US$3.779bn. Earnings increased to US$1.48bn, or 39% of sales, from US$665m in the previous quarter. Adjusted EBITDA increased to US$2.16bn from US$1.008bn in Q1.
The company said that the contribution of a full three months from its OSB operations from the Norbord acquisition, higher plywood pricing and recovery of plywood shipment volumes from the weather-related railcar shortages experienced in the previous quarter positively impacted adjusted EBITDA for the quarter.
The integration of the Norbord business is still in the early stages and remains a company focus. It says it remains on track
to achieve targeted annual synergies of US$61m over the next 12-18 months. “The most significant uses for our lumber and OSB products are residential construction, repair and remodelling, and industrial applications,” said the company. “Low mortgage rates, low volumes of homes available for resale, favourable demographics, increasing acceptance of remote working and the underlying housing construction deficit due to several years of under-building appear to be positively influencing the demand for new housing in North America. An aging housing stock and repair and renovation spending should also continue to drive lumber, plywood and OSB demand. “Our balance sheet remains strong and well equipped to face potential volatility that may exist in our markets over the coming quarters and to support capital expenditure plans and returning capital to shareholders.”
Moelven to invest SEK600m in sawmills
Above: Moelven is investing in two of its sawmills
Moelven is to modernise and develop capacity at Moelven Edanesågen AB and Moelven Valåsen AB. Overall, the group will invest more than SEK600m in the two sawmills in the years to come.
“This is a major investment by Moelven,” said Morten Kristiansen, CEO of Moelven Industrier ASA.
“Both Moelven Edanesågen and Moelven
Valåsen will be the sawmills of the future, and they will play important parts in
the group’s work to ensure international competitiveness in the future.” Moelven Edanesågen will undergo a complete renovation of the entire production process from timber sorting, timber intake, to a new saw line and new dryer with increased capacity. This will be Moelven’s largest individual investment of all time, with a framework of SEK450m. The project will be completed in the first half of 2024. When finished, Moelven Edanesågen will have significantly increased production capacity. Moelven Valåsen in Karlskoga is increasing its capacity, and is currently building a new energy centre that will be put into operation towards the end of the year, representing an investment of SEK60m.
Now Moelven is investing an additional SEK185m to further develop the sawmill. This entails new investments in saw intake, raw sorting and sorting with camera technology, as well as a new saw line for small timber. When completed in 2024, efficiency and capacity at the sawmill will be significantly greater.
□ Roseburg Forest Products has launched Armorite Exterior MDF, a no-added formaldehyde MDF panel that resists moisture, rot, decay, and insects (including Formosan termites). Roseburg says the new product was engineered with machinability in mind.
Stora Enso produces wood-based carbon for batteries
Stora Enso’s pilot facility for producing bio-based carbon materials from lignin has started operations. This follows the company’s €10m investment announced in 2019.
Pilot production of Lignode by Stora Enso, wood-based carbon for batteries, is currently being ramped up. Applications include electric vehicles and consumer electronics as well as large-scale energy storage systems.
“With our pilot plant now ramping up operations, Stora Enso is entering a new value chain in supplying more sustainable anode materials for batteries,” said Markus Mannström, executive vice-president of Stora Enso’s Biomaterials division. “With Lignode, we can provide a bio-based, cost-competitive and high-performance material to replace the conventionally used graphite. To serve the fast-growing anode materials market, we are now exploring strategic partnerships to accelerate scale-up and commercialisation in Europe.” The pilot plant for bio-based carbon materials is located at Stora Enso’s Sunila production site in Finland, where lignin has been industrially produced since 2015. The global battery market is projected to grow tenfold over the next decade.
Sweetman expands sawmill operations Sweetman Renewables plans to expand
its sawmilling operations to meet growing demand as the Australian construction boom plays out.
“With the imminent closure of the other hardwood sawmill in the region, because of urban ‘creep’ and related development pressures, the Sweetman Renewables sawmill will soon be the only hardwood sawmill between Sydney and Newcastle,” said John Halkett, Sweetman’s chairman. “With frantic building and construction activity in Australia, and with building products in short supply, the Sweetman Renewables Hunter Valley sawmill is well-placed to expand production to supply some of the increasing demand for hardwood timber products across New South Wales and in other states,” said Mr Halkett.
Sweetman Renewables already has advanced plans to expand sawmill production of high-quality timber products.
www.ttjonline.com | September/October 2021 | TTJ
World News
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