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Mercer Int’l (MERC) is a basic material, commodity pulp manufacturer with additional businesses in the renewable energy and European lumber industries. When one thinks of paper and pulp, the images of corrugated boxes from e-commerce purchases, computer printer paper, and folding cartons for a 12-pack come to mind. However, there are other paper products with more precise requirements, mainly tissue, fine printing, hygiene absorbing products, and specialty paper. It is this niche portion of the paper business that MERC is focused on, and they have become the second largest global producer of their