State of the North American Pulp & Paper Industry - The Center for ...
State of the North American Pulp & Paper Industry - The Center for ...
State of the North American Pulp & Paper Industry - The Center for ...
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Grade Outlook<br />
– Containerboard<br />
This N. Am. Segment has Undergone Significant Restructuring:<br />
• Concentration <strong>of</strong> Top Producers Shifted From One <strong>of</strong> Lowest<br />
to Highest in <strong>North</strong> <strong>American</strong> <strong>Industry</strong> – Improved Capacity<br />
Utilization and Expansion Discipline Has Followed<br />
• Fur<strong>the</strong>r Acquisitions iti by Large Players Will Be Difficult<br />
• However, <strong>North</strong> <strong>American</strong> Producers Have Lost Export Market<br />
to New Overseas Capacity, Especially in China and Germany<br />
• Pr<strong>of</strong>itability and Returns Are Lower Needed & Expected<br />
• Slack Capacity Absorbed Quickly With Improved Economy<br />
Implications: This grade has had great transition – synergies<br />
still key. Expect more asset moves & quality initiatives. CAPEX<br />
to be minimal. Major issue is surplus converting capacity.<br />
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