Celgar Owners Release Financial Figures

February 16, 2012

Meanwhile Celgar owners Mercer International are reporting a $ 65 million dollar loss in earnings compared to 2010 despite record pulp production at their two German mills.

The company blames world market conditions for much of the losses but they are also highlighting the energy dispute at Celgar.

Mercer says one of the reasons for about $2 million in lost energy revenue in the 4th quarter is due to a dispute with Fortis.

The company is involved in a NAFTA claim against the government of Canada for what it sees as unfair energy practices in BC that are costing it $19 million a year at Celgar.