Record losses of Global Forest Products Industry in 2008TORONTO, June 24 /CNW/ - The Top 100 Forest, Paper and Packaging (FPP) companies from around the world saw net income tumble from positive $13.8 billion in 2007 to record losses of $8.0 billion in 2008, the first time this metric has been negative since 1996, the date PricewaterhouseCoopers (PwC) began the annual PwC Global Forest, Paper & Packaging Industry Survey. This year's survey shows that:
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50% of North American OSB capacity closedThe extreme weakness in the U.S. housing industry has created a huge over-supply of OSB capacity with no other options or markets to pursue. This has led to below cost prices for much of 2009.
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Timber-import trade associations merge to European umbrella federation ETTF12 August 2009: The interests of the European timber trade will be represented by the newly established umbrella organisation European Timber Trade Federation (ETTF) in the future.
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Arkhangelsk region to get new projectNovye Lesnye Technologies (New Timber Technologies, St. Petersburg) is to invest over RUR11.8 mln (€ 300 th.) in construction of a mill for advanced timber processing in the Arkhangelsk region.
The mill is to produce wooden boards and chipboards with annual capacity making up 250 th. cubic meters and 325 th. cubic meters respectively.
Besides, the mill will have a sawmilling facility (100 th. cubic meters per year) and glued log production (15 th. cubic meters per year).
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Russian plywood imports surge in EU
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