Kronospan, the Austrian multinational corporation dedicated to the manufacturing and distribution of wood panels, plans to invest 180 million euros to build a new factory in in the Catalunya Sud industrial estate in Tortosa (Tarragona), Spain. The announcement of the new factory is the largest foreign investment in Terres de l’Ebre.
News in international markets
Germany’s Producer Price Index Increases at the Fastest Rate Since November 1951
The German statistics office Destatis reported on Friday (11-19-21) that the Producer Price Index for industrial products in German rose 18.4% year-over-year in October 2021. According to Destatis, this is the highest on-year increase since November 1951. Compared with the previous month, the index rose by 3.8% in October.
Segezha Group Announces Plans to Build Second Glued Laminated Timber Plant in Karelia, Russia
The Segezha Group has announced it plans to build a glued laminated timber plant in Segeza, Republic of Karelia, Russia. The new plant will be located next to the Group’s primary asset in the Republic of Karelia, Segezha Pulp and Paper Mill JSC. The new facility will join the Sokol Woodworking Plant JSC, which is currently the only Segezha Group facility manufacturing glued laminated timber.
Hancock Natural Resources Group Renamed Manulife Investment Management Timberland and Agriculture Inc.
Manulife Investment Management, a diverse private markets business, which includes timberland and agriculture, has announced that Hancock Natural Resource Group Inc has changed its name to Manulife Investment Management Timberland and Agriculture Inc effective today (11-15-21). The change completes the transition of all Manulife Investment Management private markets’ capabilities.
Minster of Forestry Urges Builders to “Think Timber” in the Construction of Ireland’s Homes
The Republic of Ireland’s Senator Pippa Hackett, the Minister of State with responsibility for Forestry, wants to see timber playing a ‘big part’ in the future of construction of Ireland’s homes. The senator made the comments as she launched a series of statements by the National Council for Forest Research and Development (COFORD).
Sweden’s Setra Announces Plans to Expand Drying Capacity at Heby and Hasselfors Sawmills
Setra, one of Sweden’s largest wood products companies, has announced that it intends to expand its drying capacity at their Heby and Hasselfors sawmills. The investment in both high-capacity drying kilns totals SEK 100 million. In total, Setra has invested more than SEK 1 billion in Bergslagen over the past four years.
HS Timber Group and Forestcape Partner to Build a New Sawmill in Gobernador Virasoro, Argentina
HS Timber Group, along with its Belgian joint-venture partner Forestcape, has announced their intention to build a new sawmill in Gobernador Virasoro, Argentina. The investment will amount to approximately $100 million. The Argentinian joint-venture operates under the name Acon Timber.
KPA Unicon to Invest in Modernization of Existing Boiler Plant at Timber Sawmill in Keitele, Finland
A large-scale modernization investment in an existing boiler plant at the Keitele Timber sawmill located in Keitele, Finland had been agreed upon by KPA Unicon and Keitele Energy. The investment is in cleaner energy production and modernization of the plant’s automation and other systems.
The Fed Says China’s Real Estate Issues Could Impact the U.S.
On Monday (11-8-21), the U.S. Federal Reserved released its latest Financial Stability Report (FSR), which is released twice a year. In the report, the Fed said, “Stresses in China’s real estate sector could strain the Chinese financial system, with possible spillovers to the United States.” The report pointed to the size of China’s economy and financial system, and global trade links.
Glennon Brothers Completes Purchases of Co Fermanagh-based Balcas
In May, Glennon Brothers announced its plans to purchase Co Fermanagh, Ireland-based Balcas from its owner SHV Energy, subject to approval from competition regulators. Those approvals have now been completed. Balcas was established in Enniskillen, Northern Ireland in 1962 and consists of two divisions, Balcas Timber and Balcas Energy. Combined, the business has a turnover of £108 million a year.