Developments and Outlook for Wood Pulp Production in Asia and the World
|
|
- Dale Barton
- 6 years ago
- Views:
Transcription
1 Developments and Outlook for Wood Pulp Production in Asia and the World IWRTC Da Nang, Vietnam February 2017 Kurt Schaefer Vice President, Fiber
2 Brief CV VP Fiber (World Pulp and Recovered Paper) 20+ years with RISI 15 years forecasting the world pulp market Five years forecasting North American graphic, packaging and tissue papers Chartered Financial Analyst (CFA) charter in 1995 Posted in Beijing in 2011, Brussels in 2012, now Boston Author (or lead author) World Pulp Monthly Pulp and Recovered Paper 5 and 15 Year Forecasts The China Pulp Market (multi client study, November 2015) 2
3 For Further Details and Analysis: World Pulp & Recovered Paper 5-Year and 15-Year Forecasts World Pulp Monthly 3
4 Abbreviations and Grades BSK = Bleached softwood kraft pulp ( long fiber) NBSK (northern), SBSK (southern), radiata BHK = Bleached hardwood kraft pulp ( short fiber) BEK (eucalyptus), NBHK (northern mixed), acacia DP = Dissolving pulp Primarily textile grade ( viscose pulp) P&W = Printing & writing paper Coated and uncoated; woodfree and mechanical Delivered cash cost = mill cost + delivery cost Includes: Fiber, chemicals, energy, labor, logistics Excludes: Depreciation, interest, SG&A TPY = Tonnes per year 4
5 Recent Developments 5
6 Commodity Prices: A Strong Dollar, Oversupplied Markets, Low Prices CRB Commodity Index, 2011 Present 6
7 In China, Pulp (and Other) Prices Have Posted a Remarkable Rebound Lately Pulp prices in the Chinese local market (RMB) 7,000 7,000 6,700 6,400 6,100 NBSK Local RMB (L) NBSK Local US$ ex VAT NBSK Imp. Net Price US$ $900 $800 6,700 6,400 6,100 BEK Local Price RMB (L) BEK Local US$ ex VAT BEK Imp. Net Price US$ $900 $800 Renminbi per Tonne 5,800 5,500 5,200 4,900 4,600 $700 $600 5,800 5,500 5,200 4,900 4,600 $700 $600 4,300 $500 4,300 $500 4,000 4,000 3,700 $400 3,700 $400 Jun 11 Dec 11 Jun 12 Dec 12 Jun 13 Dec 13 Jun 14 Dec 14 Jun 15 Dec 15 Jun 16 Dec 16 Jun 11 Dec 11 Jun 12 Dec 12 Jun 13 Dec 13 Jun 14 Dec 14 Jun 15 Dec 15 Jun 16 Dec 16 Renminbi per Tonne 7
8 APP s OKI Mill Startup Is Proceeding, with a Slow Ramp Up to 2.8 Million TPY 2x1.4 million TPY lines, second line starts in April? Total production in 2017: 1.5 million tonnes??? 2.8 million tonnes = 8.7% of world BHK demand Wood supply: Still conflicting accounts 8
9 Fibria s 2 Million TPY Line Is About 80% Complete, and Could Start Early Target startup date: Early 4Q17 Nominal capacity of 1.95 million TPY equals 6% of world BHK market demand in 2017 Dollar denominated funding as low as 2% per year 9
10 BHK Cash Cost Curve End 2016: Asian and US Mills Are Vulnerable Mill level costs, no D, I, SG&A or logistics Asia Europe South America North Amer. 10
11 Production of DP and BHK on Swing Lines Is Responding to Price Gaps DP and BEK import prices in China (USD) $470/Tonne 11
12 A Potentially Huge Shift from BHK to DP Production Is Coming in Asia Pre Hydrolyzing Vessel retrofits on digesters Andritz supplied PHV at a Sun Paper mill in China Until recently, conversion from papergrade pulp to DP was limited to batch digesters. New technology is now being retrofitted to continuous digesters, creating many more candidates for conversion. Large lines in Indonesia and China are likely conversions. 12
13 DP Will Be a Strong Driver of Woodchip Demand in Asia World DP market is about 7.5 million tonnes, growing by about 5+% per year, or over 400,000 TPY. Risk here could be to the upside as income levels rise in Asia. Switching a papergrade line to DP removes 1.4 tonnes of BHK capacity for every tonne of DP. There are new DP lines coming in China, Laos and possibly the USA, plus conversions in Indonesia and China, potentially far exceeding demand. 13
14 Key BHK Capacity Developments 2016 Klabin Ortigueira, March: 1.1 million tonnes Alizay (France): BHK restart postponed indefinitely APP Sumatra (OKI), December: million tonnes RGE Rizhao: Small line switching to BSK ( 300,000 tonnes) APRIL Kerinci: New PM ( 250,000 tonnes market, +250,000 tonnes integrated) 2017 Fibria, 4Q17: 1.95 million tonnes Metsä Äänekoski: +100,000 tonnes, 3Q17 APRIL Kerinci: Conversion to DP ( 200, ,000 tonnes 2017 to 2019) 14
15 Key BSK Capacity Developments 2016 Klabin Ortigueira, March: 400,000 tonnes fluff/sbsk IP Riegelwood, 2Q16: 360,000 tonnes fluff/sbsk Domtar Ashdown, 3Q16: >300,000 tonnes fluff/sbsk Sodra Varo, 2H16: 275,000 tonnes RGE Rizhao mill: BSK on 300,000 tonne pulp line 2017 IP Pensacola (140,000 tonnes fluff) is down at least temporarily Domtar Plymouth: 90,000 tonnes fluff Metsä Fibre, 3Q17 4Q17: 700,000 tonnes BSK Belarus likely delayed again to late in 2017 (300,000 tonnes BSK) 15
16 Near Term Prognostications (2017) BHK availability will greatly outpace demand growth by the end of Much lower operating margins will be seen at BHK mills. Closures/conversions will happen. Southern BSK (SBSK/fluff) will be increasingly oversupplied as well later this year, unless some additional capacity were to be removed from the market. 16
17 Forecast Drivers and Outlook 17
18 The Global Economic Outlook Is Clouded by Uncertainty 18
19 World Production of Paper and Board Is Accelerating, but Very Slowly Graphic, Packaging and Specialty and Tissue; Percentage Change 8% 6% 6.5% 4% 2% 0% 2.1% 4.0% 3.0% 1.0% 0.2% 0.8% 0.9% 0.4% 0.8% 1.1% 1.7% 2.0% 2.1% 2% 0.6% 4% 6% 5.3%
20 World Paper and Board Production Million Tonnes Containerboard P&W and Newsprint Other Paper and Board Tissue
21 How Much Is Growth of Tissue Contributing to Pulp Demand? Tissue demand will grow by 3.5% per year in , so about 1.3 million tonnes per year of additional tissue production and fiber demand Slight increase over time in pulp share, compared to recovered fiber (2/3 vs 1/3 at present) In the USA, consumer tissue is growing faster than awayfrom home, which is good for pulp demand There is increasing use of integrated or captive pulp to produce tissue Less market pulp demand, but also less pulp capacity available for the market 21
22 Like Tissue, Fluff Pulp Demand Is Growing Quite Steadily, Adding About 250,000 Tonnes per Year to Pulp Demand 7 World Fluff Pulp Consumption 6 Millions of Tonnes
23 Paper Grade Wood Pulp Demand Should Trend Upward, Despite Declining Graphic Paper Production In 2016, world paper grade pulp demand (and production) totaled 170 million tonnes Expecting growth of slightly less than paper industry growth: 1 2% per year over the next five years Chemical papergrade pulp: Roughly 2% per year Mechanical pulp: About flat 23
24 Asia s BHK Consumption Will Trend Higher Million Tonnes Apparent Consumption Production Net Imports
25 Chinese Paper and Board Production: Packaging Trending Firmly Upward Million Tonnes, Four Major Grades of Paper Containerboard P&W and Newsprint Tissue Other Paper and Board
26 Chinese Pulp Consumption Will Shift More Toward Imports Million Tonnes, BHK and Mechanical Pulp Net Imports Production
27 Outlook for Chinese Nonwood Pulp Production Remains Uncertain Million Tonnes, Wood and Nonwood Pulp Nonwood Pulp Wood Pulp
28 Only Mechanical Pulp Is Likely to Post Strong Production Gains in China Papergrade Pulp Production (Million Tonnes) NON BHK MEC UKP BSK
29 Other Asia BHK Capacity Is Surging, Mostly Because of OKI BHK (Million Tonnes) in Asia ex. China and Japan Total Capacity Integrated Capacity Market Capacity
30 Brazilian BHK Capacity Is Accelerating Fibria, Eldorado BHK (Million Tonnes) in Brazil Total Capacity Market Capacity Integrated Capacity
31 Led by New Mills in Brazil, South America Will Gain More Share in BHK Shares of World BHK Shipments (1=100%) Latin America Europe Asia, Africa and Oceania North America
32 Key Takeaways A tsunami of BHK by the end of 2017, with a lot of risk of closure and downtime. BSK operating rates also likely to regress by end of year. Our forecast for the world economy and for the P&P industry is moderate, steady growth. The paper industry will grow by 1 2% per year over the next five years, with pulp demand roughly matching that growth. This would be a continuation of the unusual stability seen over the past five years. 32
33 Key Takeaways DP production will help fuel solid growth in wood chip demand in Asia. Expect even larger conversions from papergrade pulp to DP. China is projected to turn more toward imports for incremental paper grade pulp, with the exception of mechanical pulp Asia s production and net imports of wood pulp will post solid gains. By 2020, South America could account for two thirds of world BHK shipments. 33
34 Until next time, thanks and safe travels. For more information: World Pulp & Recovered Paper 5-Year and 15-Year Forecasts World Pulp Monthly 34
Outlook for the World Paper Grade Pulp Market
Outlook for the World Paper Grade Pulp Market European Conference March 2016 Kurt Schaefer Vice President, Fiber The BSK BHK Price Spread in China Reversed in 2015 1,000 900 800 700 Price Gap (RIGHT) China
More informationThe Development of China Paper Industry: Current Situation and Outlook. Dr. Cao Zhenlei Sep 2014, Shanghai
The Development of China Paper Industry: Current Situation and Outlook Dr. Cao Zhenlei Sep 2014, Shanghai Content -Status quo and market position of China s papermaking industry -China s papermaking market
More information1 st Quarter FY2013 Financial Review
1 st Quarter FY2013 Financial Review August 6, 2013 Nippon Paper Industries Co., Ltd. Contents 1 st Quarter FY2013 Review (April 1 June 30, 2013) 1. Business environment 2. Financial results 3. Earnings
More informationHierarchy of Values. Canada s Wood Supply. Background to Taxonomies. Wood David Cohen 1
A Short Summary of the Taxonomy of Pulp and Paper Products: Hierarchy of Values Based on A New Taxonomy of Pulp and Paper Products by Marie Dumontier and David Cohen, 2015 wide lumber, narrow lumber, chips
More information3 RD QUARTER FY2018/3 FINANCIAL REVIEW. Investor Meeting on February 7, 2018
3 RD QUARTER FY2018/3 FINANCIAL REVIEW Investor Meeting on February 7, 2018 Contents 1 2 3rd Quarter FY2018/3 Review (April 1, 2017 December 31, 2017) FY2018/3 Forecast 2 1.3rd Quarter FY 2018/3 Financial
More informationGlobal Printing and Writing Paper Market: Trends & Opportunities[ ]
Global Printing and Writing Paper Market: Trends & Opportunities[2012-17] Scope of the Report The report titled Global Printing and Writing Paper Market : Trends & Opportunities (2012-2017) offers an in-depth
More informationPÖYRY INSIGHT. World Fibre Outlook up to 2025
PÖYRY INSIGHT World Fibre Outlook up to 2025 Pulp market in transition Pöyry s new fibre supply and demand outlook, scheduled to be published in mid-november 2012, provides an invaluable strategic platform
More informationSilicon Wafer Demand Forecast Update, 4Q03
Forecast Analysis Silicon Wafer Demand Forecast Update, 4Q03 Abstract: Silicon wafer demand in 2003 will register an 8 percent increase over 2002. Demand will enter an expansion phase in the second quarter
More informationIndustrials China paper
Industrials China paper Walden Shing* Analyst The Hongkong and Shanghai Banking Corporation Limited +852 2996 6751 waldenshing@hsbc.com.hk *Employed by a non-us affiliate of HSBC Securities (USA) Inc,
More informationPaper and Pulp Shortages and Price Increases in What s affecting Global Market Reactions?
Paper and Pulp Shortages and Price Increases in 2017. What s affecting Global Market Reactions? OVERVIEW SECTION 1 Introduction SECTION 2 Company Foreword SECTION 3 China s Paper History SECTION 4 Current
More informationPÖYRY INSIGHT. World Paper Markets up to 2030
PÖYRY INSIGHT World Paper Markets up to 2030 Paper market outlook through 2030 Since the early-1980s, Pöyry has published global, long-term paper market forecasts regularly. Our new outlook is the 12th
More informationIntroduction. May 2016
213-5 213-7 213-9 214-1 214-3 214-7 214-9 215-1 215-3 213-5 213-7 213-9 214-1 214-3 214-7 214-9 215-1 215-3 May 216 Introduction Contact RISI Email: info@risi.com UM Pulp Analyst Alisa Ma Email: ama@risi.com
More informationGlobal Tissue Paper Market Report
Global Tissue Paper Market Report ----------------------------------------------------- 2013 Executive Summary Tissue paper has become one of the most essential commodities used in day to day life. The
More informationSilicon Wafer Demand Outlook: Forecast Update, 2Q03
Research Brief Silicon Wafer Demand Outlook: Forecast Update, 2Q03 Abstract: The latest silicon wafer demand outlook predicts about 6 percent growth in 2003, nearly the same as the previous forecast. However,
More informationSAPPI. Containerboard/OCC Early January sees light activity and flat pricing for OCC as China demand is quiet
www.paperage.com SAPPI From a single mill in South Africa, Sappi has evolved to become one of the largest producers of pulp, paper, packaging and specialty papers in the world Containerboard/OCC Early
More informationSOUTH AFRICAN PULP AND PAPER INDUSTRY
SOUTH AFRICAN PULP AND PAPER INDUSTRY Summary findings on 2014 production, import and export statistics June 2015 OVERVIEW Sector contribution to GDP 2014 2013 2012 Forestry- paper contribution to total
More informationEKMAN & CO Company Overview and Pulp and Paper Market Update
EKMAN & CO Company Overview and Pulp and Paper Market Update For ISM Northeast Wisconsin Meeting November 10, 2015 Introduction Jeff Sisto VP Pulp Sales Ekman & Co Inc. 22 Years in the Business with 3
More informationExecutive Summary World Robotics 2018 Industrial Robots
Executive Summary World Robotics 2018 Industrial Robots 13 Executive Summary World Robotics 2018 Industrial Robots Robot Sales 2017: Impressive growth In 2017, robot sales increased by 30% to 381,335 units,
More informationChina Papermaking Industry Report, 2010
China Papermaking Industry Report, 2010 In 2009, under the active macroeconomic policy control of the government, China s papermaking industry on the whole overcame such difficulties as shrinking demand,
More informationGlobal Pulp and Paper Chemicals Market: Trends and Opportunities ( ) September 2015
Global Pulp and Paper Chemicals Market: Trends and Opportunities (2015-2019) September 2015 Scope of the Report The report titled Global Pulp and Paper Chemicals Market: Trends and Opportunities (2015-2019)
More informationTrends and Developments in the Chinese Pulp and Paper Industry
Trends and Developments in the Chinese Pulp and Paper Industry International Forum on Investment and Finance in China s Forestry Sector September 22-23, 24, Beijing, China Ilkka Kuusisto Associate Principal
More informationIn This Issue: China probes US coated ivory board imports. Tissue PM part explodes at Nanning Phoenix. Did you know...
PULP AND PAPER MARKET NEWS FOR ASIA November 25, 2011 Vol. 14, No. 41 Identify better producer prospects for greater sales ROI www.risi.com/suppliers Did you know... that copying or electronic forwarding
More information1Q04 Update: Silicon Demand Will Move to a Full Recovery
Gartner Dataquest Alert 1Q04 Update: Silicon Demand Will Move to a Full Recovery Our latest silicon demand forecast indicates that wafer demand in 2003 will increase 9 percent over 2002. While the forecast
More informationThe Fiber Year 2017 World Survey on Textiles & Nonwovens
Issue 17, May 2017 The Fiber Year 2017 World Survey on Textiles & Nonwovens CHF590.- Executive Summary World Fiber Production and Use The year 2016 will always be remembered from textile perspective as
More information3Q03 Silicon Wafer Update: Demand Continues Recovery
Gartner Dataquest Alert 3Q03 Silicon Wafer Update: Demand Continues Recovery The latest silicon forecast indicates that silicon wafer demand will grow 10 percent in 2003 over the previous year. This is
More informationFY st Quarter Financial Review
FY2005 1 st Quarter Financial Review August 3, 2004 Nippon Unipac Holding Nippon Unipac Holding Agenda FY2005 1Q Review (Apr. 1, 2004 ~ Jun. 30, 2004) (1) Industry overview (2) Topics of the Group (3)
More informationExecutive Summary 11. Estimated worldwide annual shipments of industrial robots
Executive Summary 11 Executive Summary 1. World Robotics 2014 Industrial Robots 2. World Robotics 2014 Service Robots 1. World Robotics 2014 Industrial Robots 2013: The highest number of industrial robots
More informationVDMA China Management Meeting. Construction Equipment and Building Material Machinery. Tianjin, 21 May VDMA Sebastian Popp
VDMA China Management Meeting Construction Equipment and Building Material Machinery Tianjin, 21 May 2015 VDMA Sebastian Popp Agenda Welcome and introduction Economic situation of the industry» Sebastian
More informationNew Jersey WasteWise Business Network Panel
New Jersey WasteWise Business Network Panel George Chen George Chen s Autobiography Retired from Tzeng Long USA after 18 years mill buyer position. 1997 established G & T Trading Company engaged in International
More informationSeries. InFocus. Global Folding Carton Market Outlook to
InFocus Series Global Folding Carton Market Outlook to 2021 www.commodityinside.com Contents Contents Table of Contents Chapter-1 Chapter-2 Chapter-3 Executive Summary Introduction and methodology Major
More informationConference Call Q2 2013
Conference Call Düsseldorf, July 30, GEA Group Aktiengesellschaft Disclaimer Forward-looking statements are based on our current assumptions and forecasts. These statements naturally entail risks and uncertainties,
More informationISTEAC. Paper Recycling. LABORATORY OF HEAT TRANSFER and ENVIRONMENTAL ENGINEERING
LABORATORY OF HEAT TRANSFER and ENVIRONMENTAL ENGINEERING DEPARTMENT of MECHANICAL ENGINEERING ARISTOTLE UNIVERSITY THESSALONIKI ISTEAC Paper Recycling Coordinator: Aristotle University of Thessaloniki
More informationEXECUTIVE SUMMARY. Robot sales to the fabricated metal products industry, the chemical industry and the food industry increased substantially.
2006 World Robot Market EXECUTIVE SUMMARY Total world-wide sales: 112,200 units, down 11% on 2005 World total stock of operational industrial robots: 951,000 units,3% greater than 2005 The world market
More informationGood resistance for the revenues of BOURBON in a market still with significant decline in activity, but with an oil price that is recovering
Press release Paris, May 4, 2016 BOURBON 1 st 2016 Financial information In the 1 st quarter 2016, BOURBON adjusted revenues reached 314.5 million (-5.9% compared with 4 th quarter 2015), illustrating
More informationPapermaking from Jute:
Papermaking from Jute: AWi Win-Win Solution for Bangladesh 2 Papermaking from Jute: AWi Win-Win Solution for Bangladesh 3 Papermaking from Jute: AWi Win-Win Solution for Bangladesh 4 Factors Behind the
More informationApril 7, Sulzer Ltd Annual General Meeting 2016 Speech Greg Poux-Guillaume, Chief Executive Officer. Dear Shareholders,
SCRIPT THE SPOKEN WORD PREVAILS April 7, 2016 Dear Shareholders, I am very pleased to welcome you to the Annual General Meeting for the first time as the new CEO of Sulzer. For me, the past few months
More informationGLOBAL RIG AND OFFSHORE CONSTRUCTION MARKETS
Information Analytics Expertise OCTOBER 214 GLOBAL RIG AND OFFSHORE CONSTRUCTION MARKETS Slowdown on all fronts? Evgenia Kukina, Sr. Product Manager +44 ()231 593 38 Evgenia.kukina@ihs.com BLACK SEA OFFSHORE
More informationPrint Market Overview: Employment Markets Technology. Prepared by Nick Waite, Head of Market Research, Smithers Pira
Print Market Overview: Employment Markets Technology Prepared by Nick Waite, Head of Market Research, Smithers Pira Agenda Introduction Smithers Pira print research EU commercial printing industry Printer
More informationGlobal Flat Glass Market Report
Global Flat Glass Market Report --------------------------------------------------- 2013 Executive Summary Glass is a non-crystalline solid but brittle material, chiefly made up of about 75% silica (SiO2),
More informationIndustry Update. Indian Paper Industry. Indian Paper Industry. The Paper Industry is classified into four segments:
Research Analyst Gunjan Kabra gunjankabra2012@niveshaay.com Industry Update Indian Paper Industry 20 th September, 2018 The Paper Industry is classified into four segments: 1. Printing and Writing (30%)
More informationTHE IMPACT OF IN-PLANT PAPER SCRAP ON RECYCLED PAPER POLICIES Prepared by: Nancy VandenBerg, Markets for Recycled Products
'Io 1 THE IMPACT OF IN-PLANT PAPER SCRAP ON RECYCLED PAPER POLICIES Prepared by: Nancy VandenBerg, Markets for Recycled Products 212-788-7921 March 12, 1993 A considerable amount of scrap paper is generated
More informationISSCC 2003 / SESSION 1 / PLENARY / 1.1
ISSCC 2003 / SESSION 1 / PLENARY / 1.1 1.1 No Exponential is Forever: But Forever Can Be Delayed! Gordon E. Moore Intel Corporation Over the last fifty years, the solid-state-circuits industry has grown
More informationSEMICONDUCTOR INDUSTRY ASSOCIATION FACTBOOK
Factbook 2014 SEMICONDUCTOR INDUSTRY ASSOCIATION FACTBOOK INTRODUCTION The data included in the 2014 SIA Factbook helps demonstrate the strength and promise of the U.S. semiconductor industry and why it
More information4Q02 Update: Semiconductor Capacity Still on Hold
Research Brief 4Q02 Update: Semiconductor Capacity Still on Hold Abstract: Semiconductor capacity expansions have gone into a hold mode as soft semiconductor demand drops utilization rates lower. Further
More informationWhat s s the Problem with PTA/MEG? Zhu Boliang, Chief Editor, China Chemical Fiber Economic Information Network
What s s the Problem with PTA/MEG? Zhu Boliang, Chief Editor, China Chemical Fiber Economic Information Network Outline I. Review of Recent Market Trend II. Fundamentals of Polyester Raw Material Market
More informationVNP Guidelines - LCA data for paper and board products
It is of high importance that the data which isused from generic LCA databases (e.g. ecoinvent) are recent as well as representative for the kind of material used. Paper and board are complex materials
More information3 rd Annual Global Automotive Conference Goldman Sachs. London, December 8, 2011
3 rd Annual Global Automotive Conference Goldman Sachs London, December 8, 2011 1 3rd Annual Global Automotive Conference Goldman Sachs London, December 8, 2011 Outline Net sales: Sustained firm growth
More informationHoneywell Welcome and Industry Perspective. Andrew Hird. Vice President Global Sales Honeywell Process Solutions
Honeywell Welcome and Industry Perspective Andrew Hird Vice President Global Sales Honeywell Process Solutions 25 Years of Pacific HUG Early 90s TDC 3000 and Total Plant 25 Years of Pacific HUG 2000s Experion,
More informationIntroduction to Bagasse Products
Developments in pulp and paper manufacture from sugarcane bagasse Symposium and Workshop May 3-4, 2007 QUT, Gardens Point Campus, Brisbane Introduction to Bagasse Products Robert (Bob) W. Hurter, MBA,
More informationUse and Fiber Savings in Graphic Grades
New Technology for Increased Filler Use and Fiber Savings in Graphic Grades 05/02/2011 Wi Weiguo Cheng, Ph.D Nalco Company Nalco and the logo are trademarks of Nalco Company 1 PaperCon 2011 Page 621 Outline
More information2010 IRI Annual Meeting R&D in Transition
2010 IRI Annual Meeting R&D in Transition U.S. Semiconductor R&D in Transition Dr. Peter J. Zdebel Senior VP and CTO ON Semiconductor May 4, 2010 Some Semiconductor Industry Facts Founded in the U.S. approximately
More informationCapcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) 3rd Quarter Report Fiscal year ending March 31, 2016
Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) 3rd Quarter Report Fiscal year ending March 31, 2016 0 Forward-looking Statements Strategies, plans, outlooks and other statements that are not historical
More informationPACKAGING PAPERS A KEY SPECIALTY PAPER GROWTH SEGMENT
PACKAGING PAPERS A KEY SPECIALTY PAPER GROWTH SEGMENT RISI European Conference, Packaging Seminar, Amsterdam, March 8, 2017 Riitta Salo, Consultant @ AWA Alexander Watson Associates AGENDA Introduction
More informationCapcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) Results of Operations and Strategies First half of fiscal year ending March 31, 2014
Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) Results of Operations and Strategies First half of fiscal year ending March 31, 2014 0 Forward-looking Statements Strategies, plans, outlooks and
More informationAnalyze whether the People s Republic of China Government should issue currency with larger face value
2017 Analyze whether the People s Republic of China Government should issue currency with larger face value Good Hope School Ruby Leung Tiana Tsang Clarissa Wong Priscilla Yeung Background In 1984, China
More informationCapcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) Results of Operations and Strategies First half of fiscal year ending March 31, 2015
Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) Results of Operations and Strategies First half of fiscal year ending March 31, 2015 0 Forward-looking Statements Strategies, plans, outlooks and
More informationNonwood Plant Fiber Uses in Papermaking
Nonwood Plant Fiber Uses in Papermaking By Robert W. Hurter, P.Eng., MBA, President,. Extracted from "Agricultural Residues", TAPPI 1997 s Short Course Notes, updated and expanded August 2001. Generally,
More informationSummary of Operating Results for 2Q of the Fiscal Year Ending March 31, 2019
Summary of Operating Results for 2Q of the Fiscal Year Ending March 31, 2019 2Q of the fiscal year ending March 31, 2019 2Q of the fiscal year ended March 31, 2018 Fiscal year ended March 31, 2018 Net
More information2018 IIF ANNUAL MEMBERSHIP MEETING
2018 IIF ANNUAL MEMBERSHIP MEETING October 12-13, 2018 Grand Hyatt Nusa Dua, Bali, Indonesia PRELIMINARY AGENDA *Subject to change* FRIDAY, OCTOBER 12 7:30 am 8:30 am REGISTRATION AND REFRESHMENTS 8:30
More informationPRICE HANNA CONSULTANTS. Asia-Pacific Nonwovens Symposium Xiamen China 2018
PRICE HANNA CONSULTANTS Asia-Pacific Nonwovens Symposium Xiamen China 2018 Presentation by David Price October 25, 2018 Price Hanna Consultants is a management consulting firm specializing in the global
More informationBriefing Session of Revisions to Consolidated Results Forecasts
Briefing Session of Revisions to Consolidated Results Forecasts Fiscal Year Ending March 31, 2013 March 26, 2013 1 SQUARE ENIX HOLDINGS CO., LTD. Statements made in this document with respect to SQUARE
More information1Q 2016 Results. Mermaid Maritime Plc. May 23, 2016
Mermaid Maritime Plc 1Q 2016 Results May 23, 2016 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to
More informationElectronic Material Systems
Electronic Material Systems Barry Russell Operating Vice President 1 Safe Harbor Statement Today s presentations may contain forward-looking statements within the meaning of the Private Securities Litigation
More informationAn introduction to papermaking fibres
An introduction to papermaking fibres What holds a sheet of paper together? Cellulose fibers, are the main component of the raw material pulp. The individual fibers are present in a network of fibres.
More informationPAPER MAKING 101. Melanie K. Calkins Director, R&D Neenah Technical Products Alpharetta GA
PAPER MAKING 101 Melanie K. Calkins Director, R&D Neenah Technical Products Alpharetta GA Paper making is an ancient art form, dating to 105 AD, which history records as the point in time when paper materials
More informationCHINA MOBILE GAME MARKET REPORT 2013
CHINA MOBILE GAME MARKET REPORT 2013 August 2013 4th Report in Niko s 2013 Market Research Subscription on China s Games Industry ABOUT NIKO PARTNERS Our Focus Niko Partners specializes in market research
More information2Q 2016 Results. Mermaid Maritime Plc. August 2016
Mermaid Maritime Plc 2Q 2016 Results August 2016 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to
More informationWelcome to the IFR Press Conference 18 October 2018 Tokyo
Welcome to the IFR Press Conference 18 October 2018 Tokyo Agenda Welcome Presentation of the speakers World Robotics 2018 Industrial Robots Review 2017 and forecast 2018-2021 Main markets customers - trends
More informationCapcom Co., Ltd. (Tokyo and Osaka Exchanges, 1st section, 9697) Financial Highlights in Fiscal Year ended March 31, 2012
Capcom Co., Ltd. (Tokyo and Osaka Exchanges, 1st section, 9697) Financial Highlights in Fiscal Year ended March 31, 2012 0 0 Forward-looking Statements Information in these materials concerning strategies,
More informationPaper Industry Update. Charles P. Klass Klass Associates Inc. Madeira Beach, FL
Paper Industry Update Charles P. Klass Klass Associates Inc. Madeira Beach, FL chuck@klassassociates.com Chuck Klass Background Degree in Pulp & Paper Technology from Western Michigan University and MBA
More informationSafe Harbor Disclosure
Safe Harbor Disclosure Please review our SEC filings on Form 10-K and Form 10-Q The statements contained in this presentation that are not historical facts are forward-looking statements. The company generally
More informationErratum to the Press Release 2017 annual results - NRJ Group. dated March 15, 2018
Paris, March 20, 2018 5:45 pm Erratum to the Press Release 2017 annual results - NRJ Group dated March 15, 2018 An editorial error was made in the press release dated March 15, 2018 (English version only)
More informationColumbia Forest Products. Overview of CFP Short review of each division Full Review International Div Questions Answers
Overview of CFP Short review of each division Full Review International Div Questions Answers Founded in 1957 One Plywood Mill Klamath Falls, OR ESOP Core Values Customer Service Above All Else Absolute
More informationGlobal Search and Rescue (SAR) Equipment Market 2017 : Production, Sales, Supply, Demand, Analysis & Forecast to MRS Research Group
Global Search and Rescue (SAR) Equipment Market 2017 : Production, Sales, Supply, Demand, & Forecast to 2021 This report studies Search and Rescue (SAR) Equipment in Global market, especially in North
More informationThe Rieter Business Model
Business Model 2 Rieter Group. Business Model The Rieter Business Model Raw materials Spinning process Ring Cotton Man-made fibers Spinning preparation Compact Air-jet Cellulose Linen Rotor Around 94 million
More informationValmet board and paper business. Mikko Osara Vice President Head of Board and Paper Mills business unit March 13, 2018
Valmet board and paper business Mikko Osara Vice President Head of Board and Paper Mills business unit March 13, 2018 Content Papermaking process in a nutshell Board and paper markets Competitors Trends
More informationSurgical Sutures Market By Product Type [Automated Suturing Devices (Disposable Automated Suturing Devices, And Re-Usable Automated Suturing
Surgical Sutures Market By Product Type [Automated Suturing Devices (Disposable Automated Suturing Devices, And Re-Usable Automated Suturing Devices), and Sutures (Sutures by Type (Absorbable & Non-Absorbable),
More informationBehind every Verso product is passion, process, teamwork, craftsmanship and respect for our environment.
Annual Report Behind every Verso product is passion, process, teamwork, craftsmanship and respect for our environment. Verso s Founding Principles 01 Safe from the start 02 Accountability, truth & transparency
More informationBOURBON Investor Presentation May 2014 BUILDING TOGETHER A SEA OF TRUST
BOURBON Investor Presentation BUILDING TOGETHER A SEA OF TRUST DISCLAIMER This document may contain information other than historical information, which constitutes estimated, provisional data concerning
More informationThe game market is expanding worldwide and Capcom continues to grow due to mobile and download sales
Explanation Summary for the Briefing Regarding Financial Results of the Year ending March 31, 2015 by Haruhiro Tsujimoto, President and COO (May 8, 2015) I am Haruhiro Tsujimoto, president and chief operating
More information2014 PRODUCTION FORECASTS FOR THE GLOBAL ELECTRONICS AND INFORMATION TECHNOLOGY INDUSTRIES
PRODUCTION FORECASTS FOR THE GLOBAL ELECTRONICS AND INFORMATION TECHNOLOGY INDUSTRIES December 24, JAPAN ELECTRONICS AND INFORMATION TECHNOLOGY INDUSTRIES ASSOCIATION FOREWORD For the Japanese economy,
More informationRod Larson President & CEO
Connecting What s Needed with What s Next Rod Larson President & CEO J.P. Morgan Energy Equity Conference June 27, 2017 New York, NY Forward-Looking Statements Statements we make in this presentation that
More information1 The World of Paper
1 The World of Paper INGEDE Seminar 7 November 2008 Zagreb Andreas Faul The paperless society not really a reality Important paper grades Printing and publication paper Newsprint paper Uncoated magazine
More informationAgritech Business Barometer Public report of the survey about the worldwide situation of the agricultural machinery business
Agritech Business Barometer Public report of the survey about the worldwide situation of the agricultural machinery business May 2015 11 th edition Contact: gerd.wiesendorfer@vdma.org Page 1 7th May 2015
More informationChartboost Power-Up Report
12 Advanced Tips for Promoting and Monetizing Your Mobile Game Chartboost Power-Up Report February 2015 Google Play Game Sessions Beats ios in the Americas! Middle East Territories Display Dramatic Growth
More informationBackground. The results of this study will be released in Wood & Wood Products magazine and presented at the IWF Technical Conference Seminar.
1 Background Wood Components Manufacturing Association (WCMA) and the management of Wood & Wood Products (WWP) & Custom Woodworking Business (CWB) magazines commissioned Vance Research Services to conduct
More informationInvestor Presentation
Connecting What s Needed with What s Next Investor Presentation September 2017 Forward-Looking Statements Statements we make in this presentation that express a belief, expectation, or intention are forward
More informationUnlocking future growth for deepwater in the Gulf of Mexico
Unlocking future growth for deepwater in the Gulf of Mexico McKinsey projects deepwater prospects will be an important part of future global oil and gas supply, with the Gulf of Mexico representing a sizable
More informationForeword Contents List of tables List of figures
CONTENTS Foreword Contents List of tables List of figures Page iv v vii ix CHAPTER 1 EXECUTIVE SUMMARY 1 1.1 Introduction 1 1.2 Definitions and product categories 1 1.3 Fibres used in the manufacture of
More informationBrainWave Control solutions for recycled paper
BrainWave Control solutions for recycled paper www.andritz.com We accept the challenge! The challenge: To find cost-effective technologies to upgrade your paper mill The solution: Advanced control with
More information2Q 2017 Results. 11 Aug 2017 MERMAID MARITIME PUBLIC COMPANY LIMITED
MERMAID MARITIME PUBLIC COMPANY LIMITED 2Q 2017 Results 11 Aug 2017 1 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated
More information:::::::::::::::: A. De Matthaeis, Managing Director. Paper trends
ERA Annual Conference Torino 25.09.2012 ::::::::::::::::::::::::::::::::::::::::: :::::::::::::::: A. De Matthaeis, Managing Director Paper trends and industry welcomes response you Contents Burgo Group
More informationITGA Leaf Supply Trend And Market situation. António Abrunhosa CEO International Tobacco Growers Association CHIANG MAI SEPTEMBER 2011
ITGA Leaf Supply Trend And Market situation António Abrunhosa CEO International Tobacco Growers Association CHIANG MAI SEPTEMBER 2011 ITGA OVERVIEW ITGA MEMBER COUNTRIES USA R. DOMINICANA PORTUGAL ITALIA
More informationTransnational Circulation of Money: Silver, JMY and USD
Transnational Circulation of Money: Silver, JMY and USD Min Shu Waseda University 2017/10/30 1 Outline of the Lecture The political economy of international currency Copper and silver in pre-colonial East
More informationWATER ENERGY CREATIFITY 1) TEXTILE MARKET 02/11/16. The World Challange. The World Challange. The World Challange
Andrew Macdonald Board Member International Textile Manufacturers Federation (ITMF) The World Challange Overcoming Tex.le Industry Challenges ICAC 75th Plenary Meeting Emerging Dynamics in Cotton: Enhancing
More informationThe Construction Market in Europe: A Supplier s Point of View
The Construction Market in Europe: A Supplier s Point of View Dr. Walter Nussbaumer Abstract After the 2009 recession and the 2010 stagnation, recovery took place in 2011 when the World Construction Industry
More informationTHE ITALIAN YARN INDUSTRY IN
THE ITALIAN YARN INDUSTRY IN 2016-2017 Notes by Centro Studi 1. The industry balance-sheet for 2016 The year 2016 was not particularly favorable to the Italian yarn industry (understood as comprising wool,
More informationInterim Results. IGG Inc August 2018
Interim Results IGG Inc August 2018 1 Disclaimer This presentation and the accompanying slides (the Presentation ) do not constitute any offer or invitation to purchase or subscribe for any securities,
More informationSimmons 2016 European Energy Conference Patrick Schorn August 30, 2016
Ladies and gentlemen, good evening. My thanks to Bill Herbert and Simmons and Company for the invitation to return to Scotland. Two years ago at this conference we spoke about the market turmoil and short-term
More informationFinancial Results Six-Month Period Ended September 30, 2013
1 Statements made in this document with respect to SQUARE ENIX HOLDINGS CO., LTD. and its consolidated subsidiaries' (together, SQUARE ENIX GROUP") plans, estimates, strategies and beliefs are forward-looking
More information