by Web Editor | Feb 7, 2018 | News
Panel producer Norbord has posted record earnings in 2017 for its worldwide business. The company also achieved record production at nine of its 15 mills, while the Inverness OSB expansion project was also completed.
Peter Wijnbergen, Norbord’s president and CEO, described 2017 as an outstanding year, with record adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of US$672m. “US housing starts continued to improve, led by stronger growth in the single-family segment, driving increased North American OSB demand and prices,” he said. “Our European business had another solid year due to record sales volumes and improved prices for all our panel products across our key markets.”
He highlighted “great momentum” moving into 2018, with demand in all its core markets remaining strong.
“Meanwhile, our European business is poised for improved earnings next year as OSB substitution for plywood drives accelerated demand growth in our core UK and German markets.”
In Europe, shipments increased 5% over the prior year, with its mills running at 99% of capacity in 2017. In local currency terms, full-year average panel prices improved 11% from 2016.
From Timber Trades Journal: https://www.ttjonline.com/news/strong-panels-markets-boost-norbord-earnings-6046604/
by Web Editor | Jul 20, 2016 | News
For years, it was known as the ugly duckling, cheaper alternative to plywood. One design maven described it as “like the turkey loaf of building materials.” But oriented strand board – OSB for short – has come into its own over the past 3 1/2 decades as a major player in North American wood-frame housing construction and is increasingly used for industrial and other applications.
Structural OSB panels – made of wood strands that are resin-bonded under high pressure and heat – are mostly used as floor, roofing or wall substrate in home building. They’re also getting play these days on fashionable interior-decoration websites as a “shabby-chic” finishing material.
Capitalizing on OSB’s rise like no other forest-products company is Toronto-based Norbord Inc. Norbord, once a diversified forestry company, has shed assets over the years and focused on OSB. Now boasting annual sales in the $1.5-billion (U.S.) range and a market capitalization of about $2.4-billion (Canadian), it bills itself as the world’s largest producer of OSB.
The $763-million acquisition in 2014 of Vancouver-based Ainsworth Lumber Co. Ltd. gave Norbord – whose operations were concentrated in the U.S. southeast – a strong presence in Western Canada as well as a foothold in the promising Japanese market.
Right now, the steadily growing number of housing starts in the United States is giving Norbord a big boost, and low-key, media-shy chief executive officer Peter Wijnbergen says there are major growth opportunities in Europe and Asia.
From The Globe And Mail: https://www.theglobeandmail.com/report-on-business/forest-products-firm-norbord-riding-the-rising-wave-of-osb-sales/article30985989/
by Web Editor | May 27, 2016 | News
Norbord Inc. recently announced that its OSB mill in High Level, Alberta resumed production over the weekend following a fire that occurred on May 4th.
As previously reported, in the afternoon of May 4th, a fire broke out in the mill yard which, as a result of the hot, dry, windy weather conditions in northern Alberta , quickly spread to the log storage area outside the plant. As a precaution, Norbord immediately suspended production at the mill. Shipping from finished goods inventory resumed the weekend of May 6th.
The High Level, Alberta mill has a stated annual production capacity of 860 million square feet (3/8-inch basis) and has been ramping up towards full production since resuming operations in late 2013. High Level is located approximately 720 kilometers northwest of Edmonton and 400 kilometers west of Fort McMurray.
From Yahoo! Finance: https://finance.yahoo.com/news/norbords-high-level-alberta-mill-100000267.html;_ylt=A86.J72EOkNXRkIAbiAnnIlQ;_ylu=X3oDMTByNWU4cGh1BGNvbG8DZ3ExBHBvcwMxBHZ0aWQDBHNlYwNzYw–
by Web Editor | Feb 3, 2016 | News
Norbord To Invest $135 Million In Scotland OSB Mill
Canadian firm Norbord has announced plans to invest £95m at its wood panels plant in the Highlands. It aims to double production at its base in Dalcross, near Inverness, to meet rising demand. Highlands and Islands Enterprise has also offered an £11m grant towards the proposed expansion. The factory produces oriented strand boards (OSB) which are used in the construction industry.
Alex Paterson, chief executive of Highlands and Islands Enterprise said: “We have been working very closely with Norbord on their development plans and are delighted to be supporting the company to invest so substantially in its Highland base.
“This development will put Norbord’s Inverness plant on a sustainable footing for decades to come, and is a huge vote of confidence in the company’s Scottish workforce.
“It’s worth noting that the positive impact of today’s announcement will be felt well beyond Inverness and the Inner Moray Firth. “Norbord is not only a significant local employer in its own right, it also plays an important strategic role in the region’s forestry sector and is a major user of haulage companies and port infrastructure.”
From STV News: news.stv.tv
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by Web Editor | Jan 20, 2016 | News
Norbord Inc. recently announced that the Quebec Minister of Forests, Wildlife and Parks has terminated the wood license associated with its curtailed Val-d’Or, Quebec OSB mill. Production at the Val-d’Or mill was indefinitely suspended in 2012 following persistently weak North American housing market conditions and lower demand for OSB. This development is not expected to have any impact on the company’s financial results.
“This is disappointing news, but in the bigger picture, we firmly believe that our Val-d’Or mill is the best alternative for the aspen pulpwood in that region,” said Peter Wijnbergen, Norbord’s President and CEO. “Unfortunately, market conditions do not yet justify a restart at Val-d’Or, but we are exploring options for the mill and are committed to a restart once market conditions are supportive. The Ministry has confirmed we can reapply for a wood license when we are ready to restart the mill.”
Norbord is the world’s largest OSB producer and continues to operate in the Abitibi region at its La Sarre, Quebec OSB mill. Since 2012, the company has invested and committed capital in excess of US$35 million to optimize that mill’s capacity and ensure its long-term competitiveness.
From Canadian Newswire: https://www.newswire.ca/news-releases/norbord-provides-update-on-val-dor-quebec-osb-mill-565685951.html
