Paper is a low margin high volume business.
PPY was wise to move to veneer as it has a much higher value and is small volume....which should be a good fit with PPY.
What is worrying is the shift to a fibreboard R&D project of probable lower value without the veneer yet becoming a business.
It sounds as if the core veneer project has probably failed and this is Plan B. It may be too late.
panel test results, page-4
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