The Adelaide building will be constructed using cross laminated timber (CLT) and green steel. When complete the building will be the tallest international hotel in the world. It will reach a height of 31 stories, 100 meters, or just shy of 330 feet in height.
News in international markets
Mercer International to Purchase Outstanding Shares of the Parent Company of HIT
Mercer International Inc. announced on Friday that it had entered into an agreement to acquire all of the outstanding shares of the parent company of Holzindustrie Torgau (“HIT”) for consideration of €270 million, inclusive of forecasted net working capital of approximately €43 million.
Japan’s Lumber and Panel Prices Continue to Soar, Pulling Up Home Prices
The shortage of lumber and plywood in Japan that began last year has been further aggravated by Russia’s invasion of Ukraine. Russia has ceased exporting some of its lumber to Japan in retaliation for sanctions. Lumber and panel prices in Japan have increased 10-20% in just the last 3 months.
Europe is Experiencing a Record Wildfire Year as Climate Conditions Continue to Change
Wildfire conditions in Europe are intensifying, just as Europe experiences an unprecedented heatwave. Fires in parts of France, Spain, and Portugal have already destroyed more land in 2022 than in all of 2021. To date, 517,881 hectares have been destroyed.
West Fraser Issues Statement Regarding Recent Media Speculation About CVC Capital & Kronospan’s Interest in Acquiring the Company
Reuters reported on Tuesday (7-19-22) morning that according to a source familiar with the matter, private equity firm CVC Capital and wood panel manufacturer Kronospan have submitted a joint expression of interest in acquiring Canadian lumber company West Fraser Timber Co.
Wood Panel Production in Europe Increased 10% in 2021
According to the latest data released by the European Panel Federation (EPF), European wood-based panel production was up 10% in 2021.
Koskisen Sells Russian Wood Processing Facility to Cherepovetsles
Koskisen announced on June 22nd, 2022, that it had sold its wood processing facility, located in Russia to Cherepovetsles.
U.S. Wood Pellet Exports Increase Month-Over-Month & Year-Over-Year in May 2022
According to data released on Thursday (7-6-22), by United States Department of Agriculture’s (USDA) Foreign Agricultural Service, the U.S. exported […]
Brazilian Exports of Wood-Based Products Increased 21% in Year-Over-Year in May 2022
According to the International Tropical Timber Organization (ITTO) in May 2022 Brazilian exports of wood-based products (except pulp and paper) […]
Forestry New South Wales Working to Plant Millions of Seedlings to Replace Trees Burned in Bushfires
Forestry New South Wales (NSW) Australia is on an ambitious program to plant 13 million seedlings into plantations destroyed during […]