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 | May 15, 2015 | News
North American OSB prices have fallen again in the first four months of this year.
The price for the benchmark grade OSB North Central 7/16”, researched weekly by the US information service Random Lengths, has almost consistently declined since December 2014. The price had at best stayed at the previous week’s level. No mark-ups occurred throughout this entire period.
The benchmark price had receded below US$200/1,000 sqft FOB for the first time in a while in January. It had reached US$180 at the end of March. This price had been left untouched for the following three weeks before softening again to US$175 in mid-April – the lowest level since July 2011.
This price was 19.7 % lower than the price of US$218 that applied at the end of April 2014.
From EUWID: https://www.euwid-wood-products.com/news/wood-based-panels/single/Artikel/north-american-osb-prices-continue-to-decrease.html
by Web Editor | Mar 9, 2015 | News
Norbord Ran All European Mills At Maximum Capacity In 2014
googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548376180744-0'); });
Norbord operated all of its European manufacturing sites at full steam in the 2014 financial year. The company invested in expanding and optimizing its particleboard mill in Cowie, Scotland and in two OSB mills in Inverness, Scotland and Genk, Belgium during the year.
These projects boosted its four mills’ capacity by around 170 million sqft (3/8’’ basis) or roughly 150,000 m³ to almost 1.8bn sqft or 1.6m m³ per year. Manufacturing edged 5 % higher to 1.690bn sqft or 1.495m m³. The two OSB mills and the particleboard and MDF mill in Cowie set new production records. All five locations continued operating until scheduled stoppages for maintenance and holidays.
Norbord thus said that its capacity utilization increased to 105 %. Sales were 6 % higher than in 2013 at 1.663bn sqft or 1.472m m³. Norbord improved its European revenues by almost 10 % to US$510m as a result. Higher sales volumes, increased particleboard and MDF prices as well as currency effects associated with the stronger pound Sterling against the US dollar more than made up for lower OSB prices.
Higher wage, raw material and maintenance costs also slimmed earnings. Operating income, which was expressed as adjusted EBITDA, still climbed to US$47m. The EBITDA margin weakened to 9.2 %.
From EUWID: euwid-wood-products.com
googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548375988914-0'); });
googletag.cmd.push(function() { googletag.display('div-gpt-ad-1589916740199-0'); });
googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548376916922-0'); });
googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548376961890-0'); });
googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548377005333-0'); });
The monthly Panel World Industry Newsletter reaches over 3,000 who represent primary panel production operations.
Panel World is delivered six times per year to North American and international professionals, who represent primary panel production operations. Subscriptions are FREE to qualified individuals.
Complete the online form so we can direct you to the appropriate Sales Representative. Contact us today!
