Stora Enso has finalised the divestment of its integrated mills at Kotka in Finland and its laminating paper operations in Malaysia to private equity firm OpenGate Capital as announced on 22 April 2010. The investment strategy of OpenGate Capital is to acquire non-core divisions and subsidiaries from global enterprises. The total consideration including earn-out is up to EUR 24 million. Read more
UPM considers that the Finnish Parliament has today made an energy decision that supports the Finnish industry's operational environment and employment. The Parliament's decision opens up the possibility to increase the share of low-emission and cost efficient electricity, but requires significant financial investments and commitment from the companies receiving the permits and their shareholders. Read more
The purchase price amounts to USD 200m in cash. This acquisition strengthens International Paper's industrial packaging business in China -- the largest corrugated market in the world, and it extends our presence in Southeast Asia," said Paul Brown, president, International Paper Asia. "We have an experienced leadership team in place and our business will now be more competitive and better able to serve customers in this fast growing region of the world." Read more
Rising prices of sawn timber has made that Bergs Timber AB has turned loss into profit according to the interimreport September 1, 2009 - 31 May 2010. Improved earnings compared to the same period last year mainly due to improved selling prices for lumber and increased circulation of products. Negative factors were increased raw material costs and lower production and offloading earnings.
So far in 2010 according to statistics forest industries increased production of sawn timber in Sweden by 6 percent and in Finland by 27 percent compared to same period last year. Reports of increased production will also be from other major producing countries such as Germany and Austria. Stocks, however, remain comparatively low but is approaching normal levels. Read more
UPM RAFLATAC OPENS DISTRIBUTION TERMINALS IN INDIA AND TURKEY
UPM Raflatac has opened two new slitting and distribution terminals, in Istanbul, Turkey and Bangalore, India. The new terminals will supply local labelling markets with high-quality film and paper labelstock. “India is a promising market for us, having the highest growth percentage for labelstock in the Asia-Pacific region,” says Santosh Kumar, Area Sales Director, South Asia, UPM Raflatac. “Through the new facility, our customers especially in South India will receive their orders faster and have a wider range of products at their disposal.” Read more
Global conifer sawlog prices have steadily increased for four consecutive quarters in all major world regions. The Global Sawlog Price Index (GSPI), which is based on quarterly conifer sawlog prices in 19 key regions worldwide, increased from US$65.89/m3 in the 1Q/09 to US$76.77/m3 in the 1Q/10, a climb of almost 17%. The biggest price increases the past year have occurred in Oceania and Northern Europe, while North America has seen only moderate upward price adjustments. Read more
Norske Skog has entered into an agreement to sell excess electricity to the Norwegian company Elkem for NOK 800 million. The deal gives Elkem a yearly supply of 1.5 TWh until 31 December, 2020. The power sold is being delivered in southern part of Norway, where Norske Skog does not need it for its own operations. Read more
Sveaskog has made a breakthrough in the ambition to become one of the larger biofuel suppliers in southern Sweden. The state forestry company has signed a contract with C4 Energy in the municipal of Kristianstad to supply 30 000 MWh of biofuel, starting October 1 this year.
A new report published last week by a consortium of organisations shows that biomass for heat and power holds a very large untapped potential for Europe as a cost effective source of renewable energy and greenhouse gas emission reductions. However, this potential is not being realised today. Read more
Among the winning companies today were Finnish UPM KYMNENE which rose 1.83%, Holmen step 2.53 and Norske skog up +2.75%. Elsewhere in Europe, the Stoxx Europe 600 index was down 0.7%. Frankfurt's DAX was down 0.6% and Paris's CAC-40 was down 1%. and London's FTSE 100 index was down 1.1%. Right now the market is engaged in forecasting the future of the Chinese currency. Read more
Dried wood and biomass could replace some of the hard coal in coal power plants. The Swedish company Torkapparater AB has developed a method that transform fresh biomass to an extremely dry and energy-rich fuel. The new process is a further development of a more than 70 years old drying technology for the process industry. Read more
