Billerud Cancels Expansion, Yet Remains Committed to Facility
Officials with Billerud announced in late May that the company will not go through with a major $1 billion expansion and conversion to cardboard production at its Escanaba, Mich. plant. The move comes after Michigan committed to more than $200 million in incentives to support the project. Company executives said current market dynamics don’t support such a plan, yet they remain committed to the plant and its three paper machines as a key part of their North American strategy.
The company acquired the Escanaba plant from Verso in 2022, and the facility remains a major market for the region’s loggers who supply pulpwood and hog fuel to the facility. While the local economy and forest products interests were disappointed with the announcement, Billerud executives say they will continue to invest in technology and efficiency at the plant.
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Enviva Announces First Quarter Setback
Enviva, the world’s largest producer of industrial wood pellets, released its quarterly report in early May, and it rippled through the wood-to-energy ranks. “The plans and initiatives underway to improve productivity and costs across Enviva’s current asset platform continue to fall behind expectations,” commented John Keppler, Executive Chairman of the board. “While the board of directors remains convinced of management’s ability to deliver the originally forecasted operational and financial performance over time, it is clearly taking longer than expected…
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