The Pearl River Delta business unit of China’s Evergrande Group announced in a posting on Saturday (4-2-22) via the developer’s official WeChat site that construction work has resumed at 95% of Evergrande’s projects across the country as of late March. The post says that work has resumed at 734 developments in all of China.
News in international markets
Verso Corporation Merger with BillerudKorsnäs AB Receives Federal and State Regulatory Approval
Verso Corporation announced on Tuesday (3-29-22) that it has received all of the necessary approvals from the Nuclear Regulatory Commission and the Public Service Commission of Wisconsin to complete its previously announced merger with BillerudKorsnäs AB, a Swedish pulp and paper company.
Koskisen Oy Investing in Kärkölä, Finland Sawmill
Koskisen Oy has entered into a supply agreement with Hekotek AS for new sawmill equipment to be delivered to their new wood processing unit in Kärkölä, Järvelä, Finland. Koskisen’s production facilities in Järvelä form Finland’s biggest mechanical wood processing integrates, where almost 100% of the wood raw material is used in its own processes.
Domestic Producers Could Benefit From a Proposed 50% Tariff on Imported Birch Plywood From Russia
Legislation passed last week by the U.S. House of Representatives would end “normal trade relations” with Russia and have a long-lasting trade impact if the proposed 50% tariffs on imports of birch plywood were to be put into effect. If signed into law, the Decorative Hardwoods Association said that this would create challenges for importers and potential opportunities for domestic manufacturers.
UK Government Imposes Additional 35% Import Tariffs on Russian and Belarusian Products
The Government of the United Kingdom (UK) has acted to deny access to the Most Favored Nation tariff for hundreds of Russian and Belarus exports, which in turn deprives them of key benefits of WTO membership. A new tariff will impact all wood products currently paying duty—such as plywood or OSB—but will also include non-dutiable products
Fire Insurance Unaffordable for Most Australian Plantation Timber Growers
Still recovering from the Black Summer bushfires, the Australian timber industry continues to face a multitude of issues and insurance, or the lack thereof, is just one of many. After the east coast bushfires of a couple of years ago, plantation fire insurance rates tripled or quadrupled.
German Sawmilling and Timber Industry Association Calls for Increased Use of Local Wood Resources
With Germany facing major raw wood and energy challenges due to Russia’s invasion of Ukraine, Germany’s Sawmilling and Timber Industry Association (DeSH) is calling for the country to begin planning on ways to end its dependency on fossil and imported resources, especially in regard to the energy sector.
Versowood Group to Purchase Kissakoski Sawmill from Veisto Oy
Versowood Group, Finland’s largest private sawmill and processor, has announced that it has entered into an agreement to purchase the business, equipment, and buildings of the Kissakoski sawmill owned by Veisto Oy. The transaction expected to be completed and close by July 2022.
Potential Solution to UK’s Housing Shortage: Offsite Timber Construction With OSB Panels
Members of the UK’s House of Commons recently received a research briefing on ways to address the growing housing shortage in England. Members were told that an estimated 340,000 new homes would be needed each year to meet the growing demand. Offsite timber frame construction could be the solution for housebuilders.
Koskisen Group to Discontinue Russian Sawing Operations and Stop Importing Sawn Goods and Logs From Russia
Koskisen Group, a Finland based, family-owned company found more than a 100-years ago, has announced that it has decided to discontinue its operations in Russia. According to the news release, the company will close out its Russian’s sawing operations and stop importing sawn goods and logs from Russia.