Paper, Packaging & Forest Products

Research evidence excerpt

Paper, Packaging & Forest Products

ith higher

costs for logistics and fossil energy, its competitiveness in its domestic market in Europe has improved,

as Chinese competitors are more reliant on oil and gas as primary energy sources and are facing more

significant logistics costs. It also noted that its customers are raising the issue of security of supply in

meetings. All else equal, an opportunity for European producers to put more product into the domestic

market would seem to suggest lower exports to North America, although management noted that it

can still make money in the U.S. today at current tariffs and exchange rates, and that it is "establishing

and growing sales" to the U.S.

Domtar open to selling its Maniwaki, QC sawmill. According to Radio Canada, a senior Domtar official

discussing the mill stated the company "does not see a recovery in the short, medium, or long term"

and that the "best scenario would be to find a local owner." The mill (with nameplate capacity of 188

mmfbm/yr) has been temporarily closing and reopening since the end of 2024, and was indefinitely

curtailed in October 2025. Domtar purchased the mill from Resolute Forest Products in 2023.

Marcal Paper acquired the St. Catharines, Ontario tissue mill. Marcal Paper (a fully-integrated away-

from-home and at-home tissue producer owned by Atlas Holdings) completed the acquisition of a ~25k

ton/yr through-air-dried (TAD) tissue and specialty paper mill from BiOrigin Specialty Products. Financial

terms were not disclosed.

Kruger invests $333MM to enter the wipe nonwovens sector. The $333MM investment is for

a hybrid wet-laid/dry-laid production line in Trois-Rivières, Quebec adjacent to Kruger's existing

Wayagamack paper mill, with commissioning scheduled for 2028.