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Mercer International Inc. is a global forest products company engaged in the manufacture, sale, and distribution of pulp and solid wood products. The company operates modern pulp mills and sawmills, producing a range of products including kraft pulp, lumber, and biofuels. Mercer is recognized for its significant production capacity and commitment to sustainability and efficiency in its operations.
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Pulp - Manufactures and distributes kraft pulp, electricity, and chemicals, with a focus on NBSK and NBHK pulp production. Operates four modern pulp mills globally, with significant investments in cogeneration equipment for green energy production.
- Pulp - Produces market NBSK pulp sold globally.
- Energy and Chemicals - Generates and sells surplus green energy and tall oil from black liquor.
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Solid Wood - Manufactures and distributes lumber, manufactured products like CLT and glulam, wood pallets, electricity, biofuels, and wood residuals. Operates sawmills and mass timber facilities in Germany and North America.
- Lumber - Produces lumber with a significant annual production capacity.
- Manufactured Products - Includes CLT, glulam, and finger joint lumber.
- Pallets - Produces millions of wood pallets annually.
- Biofuels - Produces biofuels such as pellets and briquettes.
- Wood Residuals - Distributes wood residuals as part of its solid wood operations.
- Energy and Chemicals - Generates electricity as part of its solid wood operations.
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Corporate and Other - Includes the sandalwood business, contributing a smaller portion to overall operations.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Juan Carlos Bueno ExecutiveBoard | Chief Executive Officer and President | Juan Carlos Bueno has been serving as the Chief Executive Officer and President of Mercer International Inc. since May 1, 2022 and also serves as a director since May 2022, reflecting extensive industry leadership. | View Report → | |
Adolf Koppensteiner Executive | Chief Operating Officer, Pulp Products | Adolf Koppensteiner is currently the Chief Operating Officer, Pulp Products at MERC since August 2022. Previously, he served as Chief Operating Officer from January 1, 2018 and has held other senior operational roles at MERC. | ||
Cindy Alekson Executive | Vice President, Controller | Cindy Alekson, age 51, has been serving as Vice President, Controller at Mercer International Inc. since April 2023. Previously, she served as Director of External Reporting at Mercer since November 2011, bringing extensive financial reporting and management experience and holding a Bachelor of Science from the University of British Columbia with CPA membership. | ||
Genevieve Stannus Executive | Vice President, Treasurer | Genevieve Stannus is Vice President, Treasurer at Mercer International Inc. since February 2021. Previously, she served as Treasurer from July 2005 to February 2021 and as Senior Financial Analyst starting August 2003. | ||
Richard Short Executive | Chief Financial Officer and Secretary | Board Member, Provincial Health Services Authority (PHSA) since April 18, 2023; Chair, PHSA Audit Committee since April 1, 2024 | Richard Short is the Chief Financial Officer and Secretary at Mercer International Inc. since June 1, 2023; he previously served as Vice President, Controller from February 2014 to June 2023 and held several pivotal finance roles at Mercer starting in 2007. | |
Wolfram Ridder Executive | Senior Vice President of Innovation & Government Relations | Wolfram Ridder is the Senior Vice President of Innovation & Government Relations at Mercer International Inc. since February 2023. He previously served as Vice President of Business Development from 2005 to February 2023 and held several other leadership positions within the company. | ||
Alan Wallace Board | Director | CEO of Peloton Advisors Inc.; Chair of the Board of Swiss Water Decaffeinated Coffee Inc. | Alan Wallace has served as a director at Mercer International Inc. since June 2018 where he also acts as Chair of the Audit Committee. He brings extensive experience in corporate financial advisory and investment banking, currently serving as CEO of Peloton Advisors Inc. and Chair of the Board of Swiss Water Decaffeinated Coffee Inc.. | |
Alice Laberge Board | Director | Director, Russel Metals Inc. (since 2007) ; Director, Canadian Public Accountability Board (current) | Alice Laberge has served as a Director of MERC since February 2021. She brings extensive board experience from her roles at Nutrien Ltd., Russel Metals Inc., and the Canadian Public Accountability Board, alongside significant expertise in financial and corporate governance. | |
James Shepherd Board | Director | James Shepherd has served as a director at Mercer International Inc. since June 2011 and currently chairs the Governance and Nominating Committee as of March 2024. He has extensive leadership experience in the forest products industry, having previously served as President and CEO of Canfor Corporation and Slocan Forest Products Ltd.. | ||
Janine North Board | Director | Director at Conifex Timber Inc.; Director at Imperial Metals Corporation; Director at Fraser Basin Council | Janine North has served as a director at MERC since February 2021 and brings significant board experience in the resource sector. Previously, she retired as the founding CEO of the Northern Development Initiative Trust in 2016 after 11 years of service. | |
Linda Welty Board | Director | Independent Director at Huber Engineered Materials; President and Chief Executive Officer at Welty Strategic Consulting, LLC | Linda Welty has served as a Director at Mercer International Inc. since June 2018. With over 35 years of global industrial experience, she brings deep expertise in corporate governance and operations from her previous roles, such as Independent Director at Huber Engineered Materials since 2014 and executive leadership positions at Flint Ink Corp. and H.B. Fuller Company. | |
Rainer Rettig Board | Director | Rainer Rettig has been serving as a director at MERC since February 2020. He brings extensive global industrial experience from his previous executive roles at Covestro AG and Bayer Material Science, contributing expertise in sales, marketing, and strategy development. | ||
Thomas Kevin Corrick Board | Director | Board member for Treasure Valley YMCA; Board member for St. Luke’s Health System | Thomas Kevin Corrick has served as a Director at Mercer International Inc. since May 2023. He brings over 40 years of leadership experience in the forest products industry, including a previous role as CEO at Boise Cascade from 2015 to 2020. | |
Torbjörn Lööf Board | Director | Director of Essity AB; Director of Husqvarna Group; Director of AB Blåkläder; Chairman of the Board of Electrolux AB | Torbjörn Lööf has served as a Director at Mercer International Inc. since May 2023. He has extensive leadership experience with active roles at Essity AB, Husqvarna Group, AB Blåkläder, and as Chairman of the Board of Electrolux AB since March 2024. | |
William D. McCartney Board | Interim Chairperson | President and Chief Executive Officer of Pemcorp Management Inc. | William D. McCartney has been serving as Interim Chairperson at MERC since February 26, 2024 and as Chairman of the Board since 2024; he has been a director at MERC since January 2003 and brings decades of expertise in accounting, financial management, and capital markets. |
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Given the anticipated 78 days of planned maintenance downtime in 2025 compared to 57 in 2024, how do you expect this increased downtime to impact your production volumes and profitability, particularly in light of the extended shutdown at the Celgar mill?
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With the mass timber business expecting similar sales in 2025 as in 2024 but with significantly smaller projects and reduced profitability, what specific strategies are you implementing to improve margins and offset the lack of large projects in the current high interest rate environment?
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Considering the expected 10% increase in fiber costs for your Solid Wood segment in Germany due to reduced supply, how do you plan to mitigate the impact on your lumber operations' profitability, especially given the ongoing weakness in the European construction market?
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In light of potential tariffs affecting the import of wood chips from the U.S. to your Celgar mill, which sources 40% of its chips from the U.S., what contingency plans are in place to secure sufficient fiber supply without significantly increasing costs or risking production curtailments?
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With the Solid Wood segment posting a negative EBITDA of $5 million and the European pallets market remaining weak, what are your detailed plans to return this segment to profitability, and how will increasing production at Torgau offset the challenges in the pallets business?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
West Fraser | A key competitor in the solid wood segment, competing in international markets subject to currency fluctuations and global business conditions. |
Canfor | A significant competitor in the solid wood industry, competing on price, quality, and service. |
Interfor | Competes in the solid wood segment, focusing on price and service. |
Domtar | A competitor in both the solid wood and pulp segments, competing on price and quality. |
A competitor in the solid wood segment, competing globally on price and service. | |
Binderholz | Competes in the solid wood segment, focusing on international markets. |
Stora Enso | A competitor in both the solid wood and pulp segments, competing globally on price and quality. |
Ilim | A competitor in both the solid wood and pulp segments, competing on price and service. |
Metsä Fibre | A key competitor in the NBSK pulp market, primarily located in Northern Europe. |
Södra Cell | A competitor in the NBSK pulp market, focusing on quality and service. |
UPM | A competitor in the NBSK pulp market, leveraging substantial financial resources. |
SCA | Competes in the NBSK pulp market, focusing on price and quality. |
Canfor Pulp | A competitor in the NBSK pulp market, leveraging its financial resources and market presence. |
Borregaard ASA | Part of the peer group used for benchmarking financial performance. |
Empresas CMPC S.A. | Included in the peer group for financial benchmarking, competing in the pulp industry. |
ENCE Energía y Celulosa S.A. | A peer group competitor, focusing on energy and pulp production. |
A peer group competitor, leveraging its global presence in the pulp and paper industry. | |
Klabin S.A. | Part of the peer group, competing in the pulp and paper industry with a focus on innovation. |
Included in the peer group, focusing on advanced materials and pulp production. | |
Rottneros AB | A peer group competitor, specializing in pulp production. |
Part of the peer group, a major player in the global pulp industry. | |
Svenska Cellulosa AB SCA | Included in the peer group, competing in the pulp and paper industry. |
UPM-Kymmene Oyj | A peer group competitor, leveraging its resources in the pulp and paper industry. |
Part of the peer group, competing in the solid wood and pulp industries. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Torgau facility acquisition | 2024 | The acquisition involved a non-cash goodwill impairment of $34.3 million due to weak European markets, with the facility being part of the solid wood segment that achieved some planned synergies despite significant operating losses and previously completed amortization of an order backlog intangible asset. |
Structurlam Mass Timber Corporation | 2023 | Mercer acquired Structurlam for $82.1 million (net of a $2.4 million break fee and associated costs), obtaining state‐of‐the‐art mass timber facilities in Conway, Arkansas and British Columbia that increased its production capacity and market share in North America. |
Holzindustrie Torgau (HIT) | 2022 | Mercer acquired HIT for approximately €270 million (about $275.4 million including working capital adjustments), integrating facilities in Germany that produce EPAL pallets, lumber, biofuels, and electricity, while expecting annual synergies of $16 million and strengthening its solid wood business. |
Recent press releases and 8-K filings for MERC.
- EBITDA declined significantly from $99M in Q4 2024 to $47M in Q1 2025, driven by a 22-day planned maintenance at the Celgar mill and a weakening U.S. dollar .
- Reported a net income loss of $22M in Q1 2025 compared to $17M in Q4 2024, impacting per share performance .
- Operated without tariffs on pulp from Canada and lumber from Germany amid a pending Section 232 review, supporting strong mill performance despite maintenance pressures .
- Announced a cost efficiency program targeting $100M in savings by the end of 2026, with $40–50M anticipated savings already in 2025 from enhanced operational efficiency .
- Reduced planned CapEx to approximately $100M in 2025, focusing on maintenance, environmental, and safety projects while advancing new initiatives such as a lignin extraction pilot and a potential carbon capture project .
- Maintained stable production and sales volumes while managing market headwinds .