Forest Products - 1st Edition - ISBN: 9780126912708, 9781483265742

Forest Products

1st Edition

Advanced Technologies and Economic Analyses

Authors: David A. Tillman
eBook ISBN: 9781483265742
Imprint: Academic Press
Published Date: 25th April 1985
Page Count: 296
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Forest Products: Advanced Technologies and Economic Analyses is designed to address certain issues associated with technological advancements in the forest products industry. In addressing those advanced technologies, this book provides the following: (1) a review of the state of the industry; (2) a proposed technique for innovation analysis and the basic parameters necessary for such analysis; (3) a review of many of the possible innovations available to the forest industry; and (4) detailed evaluations of a few selected potential innovations. The book begins with discussions of the challenges faced by the forest products industry and an analysis of forest products industry investments. These are followed by separate chapters on the discount rate for current forest industry investments; discount rates for new technologies in the forest products industry; advanced pulping systems; advanced processes for lumber manufacturing; and advanced technologies for producing energy, chemical and related products made from wood.

Table of Contents


Chapter I. The Challenge of Change in the Forest Products Industry

I. Introduction

II. Current Products and Markets of the Forest Products Industry

A. Lumber and Board Production and Markets

B. Pulp Production and Markets

C. Other Markets and Products for the FPI

D. Product and Market Conclusions

III. Current Economic and Financial Considerations of the Forest Products Industry

A. Structural Considerations of the FPI

B. The Financial Consequence of FPI Structure

IV. Summary and Prospectus

Chapter II. Analysis of Forest Industry Investments: The Basic Cash Flow Model

I. Introduction

II. The Discounted Cash Flow Approach for Evaluating Investments

A. Discounted Cash Flow Mathematics

B. Uses of the DCF Model

III. The Uses of the DCF Model in the New Technology Assessment

A. The Treatment of Risk

B. The Use of Risk Adjusted Discount Rates

IV. Conclusion

Chapter III. The Discount Rate for Current Forest Industry Investments

I. Introduction

A. Calculating the Overall Discount Rate

B. Calculating the Components of the Discount Rate

C. Conclusions Concerning Discount Rate Calculation

II. The Discount Rate of the Forest Products Industry

III. Historical Trends in the Discount Rate of the Forest Products Industry

A. The Historical Cost of Debt in the Forest Products Industry

B. Historical Costs of Equity in the Forest Products Industry

C. Historical Trends in the Cost of Capital for the Forest Products Industry

IV. Technical Influences on the Discount Rate of the Forest Products Industry

A. The Influence of Debt on the Discount Rate of the Forest Products Industry

B. The Influence of Product Slate on the Discount Rate of the Forest Products Industry

V. The Discount Rate of Related Industries

VI. Conclusion

Chapter IV. Discount Rates for New Technologies in the Forest Products Industry

I. Introduction

A. The Basic Principle of Technology Risk Adjustment

B. Approaching Technology Analysis through Risk Adjusted Discount Rate Curves

II. A General Manufacturing Industry Risk Adjusted Discount Rate (Cost of Capital) Curve

A. The Generalized Cost of Capital for Pilot and Pioneer Plants

B. The General Mature Technology Discount Rate

C. The General Risk Adjusted Discount Rate Curve

III. Risk Adjusted Discount Rates for the Forest Products Industry

A. The Divisional Cost of Capital Theory

B. Adaptation of the Divisional Theory to Accommodate Technological Risk Assessment

C. Refinement of the Divisional Theory Applied to Forest Industry Investments in Innovations

D. Case Studies in FPI Innovation Used in Calculating an Industry RADR

E. A Risk Adjusted Discount Rate Curve for the FPI

IV. Conclusions

Chapter V. Advanced Pulping Processes

I. Introduction

II. The State-of-the-Art in Wood Pulping

A. The Principles of Kraft Pulping

B. The Process of Kraft Pulping

C. The Costs of Kraft Pulping

D. Improving the State-of-the-Art in Wood Pulping

III. Advanced Concepts for Wood Pulping

A. Mechanical Pulping

B. Chemical Pulping

IV. Economic Analysis of Borate Based Autocausticizing and Organisolv Pulping

A. Autocausticizing with Borates

B. Pulping with Organic Solvents (Organisolv Pulping)

V. Conclusions

Chapter VI. Advanced Processes for Lumber Manufacturing

I. Introduction

II. The State-of-the-Art in Lumber Manufacturing

A. Principles of the State-of-the-Art Sawmill

B. State-of-the-Art Sawmilling Processes

C. The Costs of Lumber Production

D. Cost/Price Squeeze in Lumber Production

III. Potential Innovation to Improve Lumber Production

A. Innovations for Machine Center Operations

B. Alternatives to the Conventional Sawmill

C. Conclusions

IV. Analysis of the Advanced Controls Sawmill

A. Process Description

B. Engineering Economy Analysis

V. Conclusion

Chapter VII. Advanced Technologies for Producing Energy, Chemicals, and Related Products from Wood

I. Introduction

II. The State-of-the-Art in Energy, Chemicals, and Related Production

A. The State-of-the-Art in Energy Generation

B. The State-of-the-Art in Chemicals and Related Products Manufacture

III. Concepts for Advanced Production of Energy, Chemicals, and Related Products

A. Electricity Generating Technologies

B. Liquid Fuels and Chemicals

C. Extractive Based Chemicals

D. Foodstuffs from Wood

E. Summary of Opportunities in Energy, Chemicals, and Related Products

IV. Detailed New Process Analyses

A. The Downheat Brayton Cycle

B. Cattle Food Supplements

V. Conclusion

Appendix: Glossary of Abbreviations



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© Academic Press 1985
Academic Press
eBook ISBN:

About the Author

David A. Tillman

David A. Tillman, PhD, has over 40 years of experience in all phases of the energy industry having worked at the plant level for DTE Energy as plant production specialist-fuels and combustion for Monroe Power Plant, at the power plant design level for Foster Wheeler as Chief Fuels and Combustion Engineer, and at the policy level as Vice President of Materials Associates. He also served as senior project manager for Ebasco Environmental, dealing with solid fuel projects. He retired from Foster Wheeler and now serves as an independent consultant. He has authored and/or edited some 20 books and over 200 papers and book chapters on the subjects of solid fossil and biomass fuels.

Affiliations and Expertise

Retired as Chief Fuels and Combustion Engineer for Foster Wheeler. Foster Wheeler, New Jersey, United States

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