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 ...
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Grade Outlook<br />
– Tissue<br />
Tissue Remains Strongest Overall Segment in <strong>North</strong> America<br />
• End-product<br />
Demand Is Mature (<strong>American</strong>s Highest Per-<br />
capita Consumers in World & Incremental Demand Is Slow)<br />
• Demand Is steady -- yet Excess Capacity Could Build<br />
• However, Overall Firm Financial i Returns Less Sensitive to<br />
Supply/Demand Dynamics at Mill Level Than O<strong>the</strong>r Grades<br />
• Regulatory Considerations Will Limit Large M&A Activity<br />
• Technology Changes and New Entrepreneurial Entrants Will<br />
Drive Spending & TAD Proliferation = Potential Problem<br />
Implications: This segment has per<strong>for</strong>med best – a solid<br />
success story & expansion & upgrades will continue to lead<br />
<strong>the</strong> industry – but, TAD-like commoditization could be issue.<br />
61
Change language