The UK unveiled an ambitious new roadmap to increase the use of timber in the construction of homes and buildings to reduce emissions and reach net zero carbon emissions goals.
News in international markets
BC Forestry Sector Embarks on Mission to Japan to Showcase BC’s Innovation in Wood Products
The delegation will include the Ministry of Forests, as well as First Nations delegates and forestry-sector representatives from companies of all sizes.
US Wood Pellet Exports Increase Month-Over-Month and Year-Over-Year in October
The US exported 835,552 metric tons of wood pellets in October, according to the US Department of Agriculture’s Foreign Agriculture Service and Biomass Magazine.
Prolam Breathes New Life Into 80-Year-Old Motueka, New Zealand, Sawmill
Prolam has purchased an 80-year-old sawmill in Motueka, New Zealand, which had been closed since 2017 by its original owner.
VIDA Announces Major Investment at Its Bruza Sawmill in Hjältevad, Sweden
VIDA AB, owned 70% by Canfor Corporation, announced that it will invest approximately 700 million SEK, or $85 million (CAD), at its Bruza Sawmill in Hjältevad, Sweden.
Norvik hf Moves Closer to Completing the Purchase of Berg Timber AB
Norvik hf have shareholders approved the SEK1.54 billion ($143.50 million USD) public takeover offer of Berg Timber, according to Timber Trades Journal.
Brazilian Exports of Wood-Based Products Decline Year-Over-Year in October
Brazilian exports of wood-based products (except pulp and paper) in October fell 31.0% in value compared to October 2022, according to the International Tropical Timber Organization.
Housing Starts in Japan Decline for Fifth Consecutive Month in October
Japan reported on Thursday that housing starts in Japan declined for the fifth consecutive month in October, according to Business Insider.
UK Announces Investments in Climate and Pest Resilient Woodlands Research
The UK is investing £16 million ($20.2 million) to boost the country’s scientists in the development of climate and pest resilient woodlands.
UPM Announces Preparations for Temporary Production Cuts in Finland
UPM announced that it was preparing to start change negotiations on possible temporary layoffs at its UPM Pulp, UPM Timber, UPM Communication Papers, and UPM Biofuels businesses in Finland.