FINLAND - The Board of Directors of Raute, a global leading maker of veneer, plywood and LVL technologies, has approved a plan to merge its wholly-owned subsidiary, Hiottu Oy, into Raute Corporation. The merger is set to take place on December 31, 2024. Raute first...
USA - The International Woodworking Fair (IWF), which concluded earlier this month, attracted a global audience of professionals from various segments of the woodworking industry. Held at the Georgia World Congress Center in Atlanta from August 6 to 9, the event was a...
USA - Lowe's, one of the largest global home improvement retailers, reported weaker-than-expected sales in the 2Q-2024 and reduced its full-year outlook due to a slowdown in spending on major home improvement projects. The company attributed the sales decline to...
LATVIA - In early July, SIA Kronospan Riga acquired KS Terminal, the fourth-largest cargo terminal at the Port of Riga. This move strengthens Northern European operations of Kronospan and creates new growth opportunities. By late July, the Kronospan cargo ship...
BRAZIL - Dexco, Brazil's largest wooden panel manufacturer, reported 2Q-2024 sales of BRL 1,995.4 million, a 2.1% increase compared to 2Q-2023, which was BRL 1,953.8 million. The company’s total sales for the first half of the year reached BRL 3,931.4 million,...
BRAZIL - Impress Decor, a specialist in decorative surfaces for panels, furniture, and flooring, is investing BRL 30 million USD 5.4 million) to expand its operations in Araucária, Paraná. This includes building a new Design Center, set to open in early 2025 as...
ITALY - Biesse Group has reported its financial results for the period from January to June 2024 (6M-2024). Sales reached EUR 395.7 million, representing a decrease of 5.4% compared to EUR 418.2 million for the same period in 2023. EBITDA also declined, down 30% to...
USA - West Fraser OSB business in Europe is seeing improved demand in 2024, while MDF and particleboard are experiencing softer demand, according to the company’s 2Q-2024 update. “While inflation appears stable, risks such as high interest rates, geopolitical...
PORTUGAL - International technology group Andritz has been awarded a contract to supply a dry fibreboard recycling line to Sonae Arauco's mill in Mangualde, Portugal. This line will convert end-of-life fibreboards into valuable fibres for new production, marking it as...
BELGIUM - Ikea is advancing its drone technology with AI-powered systems designed to work around the clock with employees. After a successful trial at the Winterslag Distribution Centre in Belgium, Ikea plans to expand this system to more locations next year. This...
CANADA – Miralis, one of the largest manufacturers of kitchen cabinets in the country, has inaugurated two new production facilities, aiming to boost sales by exploring new markets and diversifying its product range. The company opened a new cabinet plant, named U2,...
USA - LL Flooring has filed for Chapter 11 bankruptcy and plans to close over 90 of its stores, according to a U.S. Securities and Exchange Commission filing. The company aims to pursue a sale of its business while reducing its physical footprint. CEO Charles Tyson...
