NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) -- Mercer International Inc. (Nasdaq: MERC) today reported that it has signed its first major mass timber project contract with a large consumer products retailer. The project, which is comprised of cross-laminated timber panels, glue-laminated beams and connector elements, is expected to utilize four months of capacity at Mercer’s Spokane facility on a one-shift basis over the course of 2023.
Juan Carlos Bueno, Mercer’s President and CEO stated: "We are delighted to conclude our first major mass timber contract. Our customer has selected mass timber for its appearance, structural integrity, fire resistance, construction efficiency and carbon footprint that only mass timber construction can provide. We expect that this is the first of more major projects to come as Mercer’s innovative product line and services become more recognized in the growing mass timber construction space."
Mercer International Inc. is a global forest products company with operations in Germany, the USA and Canada with an annual production capacity of 2.3 million tonnes of pulp, 960 million board feet of lumber, 140 thousand cubic meters of cross-laminated timber, 17 million pallets and 150,000 metric tonnes of wood pellets. For further information, please visit www.mercerint.com.
The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may cause our actual results in future periods to differ materially from forecasted results. Words such as "plans", "expects", "intends", "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:
Juan Carlos Bueno
President and Chief Executive Officer
+1 604-684-1099
David K. Ure
Senior VP Finance, CFO and Secretary
+1 604-684-1099
