An investment of $90 million (A$) will fund the expansion of Timberlink’s Tarpeena, Australia, mill. The investment includes a $63 million manufacturing plant that will produce cross-laminated timber (CLT) and glue laminated timber (GLT) for the construction industry.
News in international markets
Fierce Dry Lightning Storm Sparks Dozens of Bushfires in Western Australia
On Monday, a fierce summer dry lightning storm struck southern Western Australia with an estimated 300,000 lightning strikes. As a result, dozens of bushfires have been sparked and a large response of firefighters and emergency crews, aided by aerial support, is currently underway.
Masisa S.A. Announces Exit From Argentina
Masisa S.A., a wood products company headquartered in Chile, announced on December 29, 2022, that it had liquidated all of its assets in Argentina and was immediately ceasing all of its operations there. Masisa S.A. indicated the liquidation was part of its strategic plan.
US Wood Pellet Exports Declined Month-Over-Month and Year-Over-Year in November 2022
According to data released on Thursday by the USDA Foreign Agricultural Service, the US exported 694,199.7 metric tons of wood pellets in November. This is down from 750,989.2 metric tons in October and down year-over-year from 764,259.6 metric tons in November 2021.
New Zealand Farmers Push Back Against Afforestation Plans
A group of New Zealand farmers is trying to raise $45 million (NZD) (£25m) to purchase a large North Island farm, or station, from being purchased by overseas investors to prevent it from potentially being turned into a carbon forest. The 5000ha Mangaohane Station is a livestock farm.
Belarus to Increase Rail Shipments to China
The Belarusian Telegraph Agency (BelTA), Belarus’ largest news agency, reported on Thursday that the country is increasing freight shipments to China via rail.
Russia Extends Prohibitive Duties on Soft and Hardwood Rough Lumber Through 2025
On Friday, Russia extended its prohibitive export duties on soft and hardwood rough-sawn lumber with moisture content in excess of 22%, which has been used as cover for exporting unprocessed timber, for three years until December 31, 2025.
Australia’s Home Prices Suffer Largest Annual Decline Since 2008
According to CoreLogic, Australia’s housing market in 2022 experienced its largest annual decline since 2008, as sharp interest rate hikes weakened home buyers purchasing power and turned off would be investors.
Finland’s Carbon Sinks Shrinking Due to Increased Tree Harvesting
A report released on Wednesday by the Natural Resources Institute of Finland (LUKE) has confirmed that the land use sector in Finland has changed from a carbon sink into a source of emissions. The report concluded that the primary reasons are intensifying felling and slowing growth.
Stora Enso Strengthening Focus on Specialized Pulp Grades
Stora Enso announced on Tuesday that it was strengthening its focus on specialized pulp grades by investing €38 million in unbleached kraft pulp (UKP) production at its Enocell site in Finland and €42 million in fluff pulp production improvement at its Skutskär site in Sweden.