Mercer International Inc. Announces Cariboo Mill Downtime for Eight Weeks
Mercer International Inc. (Nasdaq: MERC) has announced a planned operation curtailment at the Cariboo Pulp and Paper mill, starting mid-April for one month, followed by another month in the third quarter. This action is a response to a decrease in fiber availability due to recent insect infestations, fires, and governmental policies affecting British Columbia's forestry resources. The downtime aims to align production capacity with the reduced fiber supply, with adjustments possible based on future fiber forecasts. Mercer operates globally, with a total production capacity of 2.3 million tonnes of pulp and other wood products.
- The decision to curtail operations at the mill may help optimize production efficiency in light of fiber availability.
- Mercer International holds a substantial annual production capacity across various products, indicating strong operational fundamentals.
- The curtailment reflects ongoing issues with fiber supply, which may lead to reduced revenue in the affected periods.
- External factors such as insect infestations and fires pose risks to future production levels and operational stability.
NEW YORK, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Mercer International Inc. (Nasdaq: MERC) announces that the operator of the Cariboo Pulp and Paper mill, in which Mercer has a joint venture interest, has announced a planned curtailment of operation beginning in mid-April for a month and then for another month in the third quarter.
The announcement is the direct consequence of a decrease in availability of fiber, which is well documented in British Columbia. Recent insect infestation, fire, and Government policy have all impacted the amount of available fiber in the region.
Downtime at the mill will better align production capacity with the available fiber supply. These plans may be adjusted should fiber forecasts change.
Mercer International Inc. is a global forest products company with operations in Germany, the USA and Canada with an annual production capacity of 2.3 million tonnes of pulp, 960 million board feet of lumber, 140 thousand cubic meters of cross-laminated timber, 17 million pallets and 150,000 metric tonnes of wood pellets. For further information, please visit www.mercerint.com.
The preceding includes forward looking statements which involve known and unknown risks and uncertainties which may cause our actual results in future periods to differ materially from forecasted results. Words such as "plans", "expects", "intends", "will", "believes", "estimates", "may", "could" and variations of such words and similar expressions are intended to identify such forward-looking statements. Among those factors which could cause actual results to differ materially are the following: the highly cyclical nature of our business, raw material costs and availability, our level of indebtedness, competition, foreign exchange and interest rate fluctuations, our use of derivatives, expenditures for capital projects, environmental regulation and compliance, disruptions to our production, market conditions and other risk factors listed from time to time in our SEC reports.
APPROVED BY:
Jimmy S.H. Lee
Executive Chairman
(604) 684-1099
Juan Carlos Bueno
Chief Executive Officer
(604) 684-1099
FAQ
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