Portucel Soporcel to Hike Price for Its Uncoated Woodfree Papers in Europe

March 13, 2014 (Press Release) - The Portucel Soporcel group, Portugal's second leading exporter, is set to increase the prices for its UWF (uncoated woodfree) paper products across all European markets, as from the beginning of April, mirroring the two increases already implemented by the Group this year, with complete success, in the US, Middle East, African and Asian markets and an increase in Latin America.

The strong pressure on the industry's cost structure, which has undermined profitability and led to the closure of several plants in the US and Europe, has made this price review inevitable, together with the fact that prices dropped by around 3% throughout 2013 alone, according to relevant benchmark indicators in Europe. It is necessary to go back three and a half years, to summer 2010, to find prices lower than they are at present, it is also worth to underline that in more than three decades only during six periods of time real prices were actually lower than they are today.

The Portucel Soporcel Group currently has an annual production capacity for 1.6 million tons of paper, 1.4 million tons of pulp (of which 1.1 million is integrated into paper) and power generation of 2.5 TWh, adding up to an annual turnover above 1,500 million euros.

SOURCE: Portucel Soporcel