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The review of the financial strategies of Polish pulp and paper companies listed on the Warsaw Stock Exchange. The main purpose of this paper is to evaluate the financial strategy undertaken by the polish pulp and paper companies listed on Warsaw Stock Exchange in 2018 - 2020. In this paper three most frequently used indicators characterising company’s financing strategy were analysed, namely: equity capital share in total capital, equity capital share in fixed assets and long-term debt share in total debt. The calculations used data from publicly available quarterly financial statements of the analysed enterprises for the period from 1st quarter of 2018 to 3rd quarter of 2020. The calculations showed that Kompap has a more moderate policy of financing its activity. The second company, Arctic Paper, was characterized by a more risky approach to the financing strategy.

Management of post-production wood waste in the aspect of circular economy. Sustainable resource management involves turning waste into resources. The estimation of various waste streams and their potential use as secondary raw materials underlies the circular economy. The management of wood waste in terms of the Circular Economy should assume material use of this waste before energy use. One of the possibilities of material management of this waste is the use of biological treatment through composting. Input materials for the composting process should have technological and physical-chemical characteristics, respectively. The aim of this study was to characterize the wood raw material (wood waste as a by-product) and qualify it for the composting process on the basis of its composition. Based on the literature research, it was found that there is possibility of using these wastes for management through biological disposal. The obtained composts from wood waste can be used as a raw material to supply the soil with humic substances and mineral compounds.

Influence of alder (Alnus glutinosa Gaerthn.) veneers on selected mechanical properties of layered pine (Pinus sylvestris L.) composites. The aim of the study was to analyse the influence of using hardwood veneers in the base layer on selected mechanical properties of composites made of coniferous veneers dedicated for flooring applications. The modulus of elasticity and stiffness at three-point bending were determined in static, dynamic and fatigue tests. All tested mechanical properties of pine-alder composites showed, to a different extent, higher values than composites with a base layer made only of pine veneers

The goal of the study was to analyse of the stiffness of one-sided, asymmetrical veneered boards by investigating the influence of glue type and board thickness on deflection and stress distribution on each composite layer. A specially designed stand that measured the whole area of the board was used to empirically measure the asymmetrically veneered elements. The theoretical measurements were taken using the Finite Elements Method in the Autodesk Mechanical Simulation 2015® program. All elements of composites including veneer (beech), glue-line (polyisocyanate and poly (vinyl acetate)), and the wood-based panel were simulated as elastic materials.

A test method was developed to evaluate the surface characteristics of veneers produced using the peeling process. Rotary cut Scots pine (Pinus sylvestris L.) veneers, which were produced from logs soaked at 65 °C for 42 h prior to peeling and dried at 125 °C, were used as the test specimens. The pine veneers were produced under industrial conditions. The density variation of the round wood was determined using X-ray computed tomography, the thickness variation of the pine veneers was measured using an optical microscope, and the structure of the veneers was examined using a scanning electron microscope. The pine wood was characterised by the density variation in the transverse section. At the same moisture level, broad-ring pith-adjacent juvenile sapwood had a lower density compared with that of perimeter-adjacent mature wood. The clear lack of density homogeneity was seen in the width of the subsequent annual growths. The roughness of the pine veneers demonstrated significant variation, depending on the tool angle (17° and 21°), wood area (sapwood and heartwood), and veneer side (tight and loose). The veneer thickness had a significant impact on the roughness values measured perpendicular to the grain.

The main objective of this work was to evaluate the effects of two machining processes on European oak wood surface characteristics. The relationships between wettability, free surface energy and machining methods were studied. Sawing and slicing, with or without sanding, were used to prepare surfaces prior to testing whether they produce surfaces with different characteristics. For the wood surfaces machined by slicing and sawing, there was a significant difference in contact angle measurements. This indicates that the influence of machining processes such as slicing and sawing on contact angle value is remarkable. Sanded surfaces showed good wettability and high process roughness.

The aim of the study was to check deformations of asymmetrically veneered panels using glue with elastic bonding. In order to achieve the aim, a special stand was designed to analyse the geometry of furniture elements. It is known that boards became convex after veneering with rigid glue. However, the level of deformations for varying parameters of veneering was not equal. As the result of veneering with elastic glue, the boards preserved their primary shape. In any case, the level of deformation depended on wood veneer species. The deformation of the boards was not influenced by their shrinkage. It is supposed that the main influence is the difference in porosity.

The aim of this study was to determine the influence of the application of glue, creating an elastic glue-line, on the deformation of wood-based panels asymmetrically veneered on one side with bamboo. The geometrical stability comparisons included multilayer composites used in the production of sliding doors, medium density fibreboard (MDF) panels, and chipboard used in the production of furniture. Chipboard panels retained their shape and stability after asymmetrical veneering, no matter which direction the veneer was placed in relation to the long edge. MDF boards retained their shape and stability only when they were veneered crosswise. The worst results were attained from composite boards, which bent in every case.