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Strategies & Market Trends : Mercer International (MERCS)
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To: Mad2 who wrote (178)8/28/2000 4:25:07 PM
From: JOHN F. MORGAN   of 196
 
Oh.. I view MERCS as being in the cat bird seat in Europe.
Stendal coming on stream in 2003 as I recall will roughly double capacity, thus profits. Meanwhile existing capacity can be increased with capital expense, by eliminating bottlenecks, ie digesters, flash heat recovery, evaporators, etc.
To me there are three important things:
1) The size of the market in which MERCS has an advantage. 2)The raw material supply and cost.
3)The market price of pulp. As I recall the price of pulp is projected to be strong for the foreseeable future.

Admittedly I am not a cost accountant from the paper industry, nor am I in a position to evaluate the continuing supply of chips and cost. I have also assumed an aggressive marketing arm of MERCS and the ability to execute.

Zero growth??? I need to sell and go elsewhere if that is the case rather than adding to my position.
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