NEW YORK, May 29, 2020 (GLOBE NEWSWIRE) -- Mercer International Inc. ("Mercer") (Nasdaq: MERC) reports that its Celgar mill, in addition to regularly planned maintenance downtime of five days, will be taking approximately 30 days of additional downtime (aggregate 52,000 ADMTs) in July 2020. The additional downtime largely results from reduced fiber availability in the mill's procurement area as a result of Covid related sawmill curtailments in British Columbia, the imposition of sawlog equivalent stumpage charges on pulpwood and complex stumpage rules which result in a significant amount of pulp wood already harvested being left to burn in the forest.
Mercer International Inc. is a global forest products company with operations in Germany and Canada with consolidated annual production capacity of 2.2 million tonnes of pulp and 550 million board feet of lumber. To obtain further information on the company, please visit its website at https://www.mercerint.com.
The preceding includes forward looking statements which involve known and unknown risks and uncertainties, including regarding the expected duration of expected downtime at our mill, which may cause our actual results in future periods to differ materially from forecasted results. Words such as "expects", "anticipates", "projects", "intends", "designed", "will", "believes", "estimates", "may", "could" and variations of such words and similar expressions are intended to identify such forward-looking statements. Among those factors which could cause actual results to differ materially are the following: the highly cyclical nature of our business, raw material costs and availability, our level of indebtedness, competition, foreign exchange and interest rate fluctuations, our use of derivatives, expenditures for capital projects, environmental regulation and compliance, disruptions to our production, market conditions and other risk factors listed from time to time in our SEC reports.
APPROVED BY:
David M. Gandossi, FCPA, FCA
Chief Executive Officer
(604) 684-1099
David K. Ure, CPA, CGA
Senior VP Finance, CFO & Secretary
(604) 684-1099
