Prolam has purchased an 80-year-old sawmill in Motueka, New Zealand, which had been closed since 2017 by its original owner.
News in international markets
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.
New Zealand Log Export Prices Firm as Sales to China Increase
Radio New Zealand reported that log export prices have firmed this month, with sales to New Zealand’s largest customer, China, picking up despite its post-COVID construction slowdown.
China Considering $137 Billion in Funding to Boost Urban Village Renovations and Affordable Housing
China plans to provide at least US$137.22 billion (1 trillion yuan) of low-cost financing to urban village renovation and affordable housing programs, Reuters reported, citing Bloomberg.
Metsä Group Signs Agreement With Raute for Delivery of Technology for New Kerto LVL Mill in Äänekoski, Finland
Metsä Group announced that it has signed an agreement with Raute for the technology delivery of the new Kerto LVL mill in Äänekoski, Finland.