Ingka Investments plans to expand its New Zealand forest estate to 100,000 hectares from 43,000, more than doubling its landholdings, the company said.
News in international markets
German Timber Industry Confidence Remains Weak in May
Germany’s HDH timber industry business climate indicator slipped to -30.4 points in May as six-month expectations weakened despite better current conditions.
US Imposes 25% Tariff on Certain Brazilian Goods Beginning July 22
The US will impose a 25% tariff on certain Brazilian goods beginning July 22, including softwood panels, engineered wood, and molding and millwork.
Mercer Realigns Torgau, Germany, Operations and Cuts Workforce
Mercer Torgau plans to cut about 100 contractor positions in July and reduce its workforce by roughly 350 roles through 2027Q2.
Södra Completes Sale of 25% SunPine Stake to VAROPreem
Södra completed the sale of its 25% stake in SunPine AB to VAROPreem, with the divestment expected to positively affect earnings during Q3.
US Wood Pellet Exports Decline in May
US wood pellet exports totaled 879,590.7 metric tons in May, down 6% from April but up 3% from a year earlier, the USDA and Biomass Magazine reported.
UK Plans Deforestation Rules That “Operate Consistently” With EUDR
The UK plans new deforestation rules for Great Britain, covering seven commodities and aligning due diligence requirements with the EUDR, according to Latham & Watkins.
HS Timber Group Completes Acquisition of Swedish Sawmill Malå Såg
HS Timber Group completed its acquisition of Swedish sawmill Malå Såg AB, expanding its presence in Northern Europe.
Brazilian Exports of Wood-Based Products Fall in May
Brazilian exports of wood-based products totaled $284.8 million in May, down 3.5% from a year earlier, ITTO reported.
US Continues Duties on Chinese Wood Mouldings and Millwork Products
The US will continue antidumping and countervailing duty orders on Chinese millwork products after the Commerce Department and the ITC completed sunset reviews.