Reuters reported on Tuesday (7-19-22) morning that according to a source familiar with the matter, private equity firm CVC Capital and wood panel manufacturer Kronospan have submitted a joint expression of interest in acquiring Canadian lumber company West Fraser Timber Co.
News in international markets
Wood Panel Production in Europe Increased 10% in 2021
According to the latest data released by the European Panel Federation (EPF), European wood-based panel production was up 10% in 2021.
Koskisen Sells Russian Wood Processing Facility to Cherepovetsles
Koskisen announced on June 22nd, 2022, that it had sold its wood processing facility, located in Russia to Cherepovetsles.
U.S. Wood Pellet Exports Increase Month-Over-Month & Year-Over-Year in May 2022
According to data released on Thursday (7-6-22), by United States Department of Agriculture’s (USDA) Foreign Agricultural Service, the U.S. exported […]
Brazilian Exports of Wood-Based Products Increased 21% in Year-Over-Year in May 2022
According to the International Tropical Timber Organization (ITTO) in May 2022 Brazilian exports of wood-based products (except pulp and paper) […]
Forestry New South Wales Working to Plant Millions of Seedlings to Replace Trees Burned in Bushfires
Forestry New South Wales (NSW) Australia is on an ambitious program to plant 13 million seedlings into plantations destroyed during […]
Belarus’ Lumber Exports Have Increased Seven-Fold to Russia
The Belarusian Telegraph Agency (BelTA), a state-owned national news agency of the Republic of Belarus, reports that Belarus’ lumber exports […]
UPM Announces Sale of Steyrermühl Site to the HEINZEL GROUP
UPM announced on Tuesday that it has entered into an agreement to sell 100% of the share in its Austrian subsidiary, UPM Kymmene-Austria GmbH, to the HEINZEL GROUP, a leading pulp, packaging, and paper producer and trader in Central and Eastern Europe. The parties have agreed not to disclose the value of the deal.
Sanctions on Russia for Its Invasion of Ukraine Set to Negatively Impact Australia’s Construction Industry
With supplies of key laminated veneered lumber (LVL) and engineered wood products (EWPs) imported from Russia and Belarus, which accounted for 40-50% of these construction products, no longer available due to sanctions, Australia’s tight timber markets are now facing a severe shortfall of products.
Russia’s Invasion of Ukraine Has Timber Prices and Shortages Impacting EU and UK Wood Projects
Russia’s invasion of Ukraine and the sanctions applied by the EU and UK on Russia for that action have European architects and designers struggling to source wood for their projects. In 2021, Russia, Belarus, and Ukraine provided nearly a quarter of the worldwide lumber trade and 53% of the EU’s timber imports.