Tag: COVID-19

Malaysia: Furniture manufacturers ask again that factory operations be allowed

Malaysia continues to see an upward trend in the rate of Covid-19 infections with 17,045 recorded in one day in late July, the highest ever in a day since the pandemic hit the nation. The cumulative total infected...

Northwest Hardwoods files for bankruptcy

US’ hardwood timber giant Northwest Hardwoods has filed for Chapter 11 bankruptcy on November 23rd, saying difficulties from trade disputes with China and the weak markets impacted by COVID-19 pandemic had stunted its ability to service more than $420...

China-Europe container shortage causes major surge in freight rates

The recovery in China’s manufacturing activity after the Covid-19 lockdown has surged progressively and after a halt caused by quarantine measure in the European countries, demand for Chinese products in Europe has increased. Thus, a shortage of containers...

WhatWood Agency has completed an update to its annual survey Russian Particleboard Market in 2019-2020

The players of the domestic PB market in 2019 faced the somewhat sluggish demand for products in the domestic market. Money income of the population did not help to support the demand for furniture. For four years, starting...

WhatWood Agency has completed an update to its annual survey Plywood market in Russia 2019-2020

In 2019 plywood production in Russia did not change significantly compared to 2018 and was at the level of 4 million m³. Softwood plywood is produced by two factories located in Siberia – Ilim Timber in Bratsk and...

COVID-19 impacts revenue and earnings of the Lenzing Group in 1H 2020

In 1H 2020, the Lenzing Group faced a historically difficult market environment with increased pressure on prices and volumes resulting from the COVID-19 crisis. As a result, revenue declined by 25.6% from EUR 1.09 billion to EUR 810.2...

Furniture production in China decreased in January-May 2020 by 14.4%

According to the Ministry of Industry and Information Technology, 309.75 million pieces of furniture were produced between January and May 2020, a decrease of 14.4% YoY. In May, the production of furniture fell by 3.5% yoy to 70.67...

Norske Skog: demand drop due to corona pandemic

Norske Skog’s EBITDA in 2Q 2020 was NOK 138 million ($14.9 million), a decrease from NOK 379 ($41 million) in 1Q 2020, mainly due to national restrictions on movement of goods and people following the outbreak of the...

Setra announces its 2020 1H Results

In 1H 2020, sales of the Swedish Setra Group decreased by 7.4% YoY to SEK 2,203 million ($ 239 million). Operating profit fell 49.6% YoY to SEK 59 million ($ 6,4 million). The effects of the COVID-19 virus continue...

Pulp Mill Holding: We intend to implement two projects for the construction of new plants in the Kaluga region for the confidence in preferences for investors

On 29 May, 2020, during a working visit the Acting Governor of the Kaluga Region Vladislav Shapsha attended the industrial sites of the Borovsky district – in Vorsino industrial park and on the northern site of SEZ Kaluga....

Russian particleboard exports are growing despite the situation with coronovirus

Despite the difficult epidemiological world situation in Q1 2020, particleboard exports from Russia grew by 21% and amounted to 458,000 м3. For example, in 1Q 2019, there was a decrease particleboard exports by 5.5% YoY to 378,000 м3....

Russian Timber Journal 05-2020: how the current decline in exports of timber products caused by COVID-19 is similar to the situation of the 2008-2009 crisis; the Russian Government granted a six-month deferral to priority investment projects in the forest sector; DNS Les started producing OSB in Primorsky region

Russian Timber Journal 05-2020: comparing the 2008-2009 crisis with the current decline of forest products exports during the pandemic; in the Russian Far East was opened the first OSB production; the Russian government has granted a six-month deferment to...