News in lumber

Softwood Lumber Board and U.S. Dept. of Agriculture Sign Memorandum of Understanding to Support Net-Zero Carbon Construction

Under the terms of the MOU, effective immediately, the SLB and USDA will expand a public-private partnership that seeks to grow demand for wood products as natural climate solutions. The organizations will jointly explore and coordinate additional market development, research, technological advances, and other activities to expand the use of wood in the built environment.

Sawmill Insurance Coverage Getting More Difficult to Secure

Sawmill operators have always operated in a supply and demand market. Currently, however, they are dealing with another and somewhat unfamiliar supply and demand problem: the lack of insurance companies willing to write policies covering their property, as well as business interruption insurance.

Rayonier Advance Materials Inc. Completes Sale of its Lumber and Newsprint Assets to GreenFirst Forest Products Inc.

On Monday, August 20, 2021, Rayonier Advanced Materials Inc. reported that it has completed its previously announced sale of its lumber and newsprint assets (the “Purchased Assets”) to GreenFirst Forest Products Inc. (“GreenFirst”), a Canadian lumber company, for a total purchase price of approximately US$235 million, subject to final adjustments.