Mercer International Inc. Announces Downtime at Its Celgar Mill
Mercer International Inc. (Nasdaq: MERC) announced that its Celgar mill in British Columbia will undergo approximately three weeks of downtime starting in March 2023 due to inadequate fiber availability. President and CEO Juan Carlos Bueno expressed disappointment over the fiber supply situation, particularly regarding residual fiber for pulp, which is affecting employees and suppliers. Mercer operates globally with an annual production capacity of 2.3 million tonnes of pulp, among other products.
- Mercer has a robust production capacity of 2.3 million tonnes of pulp annually, demonstrating strong market capability.
- The Celgar mill's downtime due to fiber availability may lead to production losses and impact revenue.
- Ongoing fiber supply issues could pose long-term operational challenges and affect overall business stability.
NEW YORK, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Mercer International Inc. (Nasdaq: MERC) reports that, due to a lack of appropriate fiber availability, its Celgar mill in British Columbia, Canada, is planning to take approximately three weeks of downtime. This curtailment is expected to commence in March 2023.
Juan Carlos Bueno, Mercer’s President and CEO, remarked, "We are disappointed that the current fiber supply situation — and in particular, the lack of available residual fiber for pulp — has led us to the difficult position forcing us to curtail. The continued fiber supply problem is a source of disappointment for our employees, our suppliers, the Castlegar region and the province at large. We are hopeful for a resolution in short order."
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
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