PotlatchDeltic Corporation announced today that is investing $131 million to expand and modernize its Waldo, Columbia County, Arkansas sawmill. With the updates scheduled to be completed in Q4 of 2024, the mills annual capacity will increase from 190 million board feet of dimensional lumber to approximately 275 million board feet.
News in lumber
Canfor Corp. Announces Continuation of Reduced Operating Schedules & Summer Downtime at Its Western Canadian Sawmills
Canfor Corporation on Thursday (5-26-22) announced the continuation of reduced operating schedules at its Western Canadian sawmills due to the ongoing global supply chain challenges. Canfor has been operating at approximately 80% of production capacity since late March of 2022.
Resolute Forest Products Reports a Major Fire at Its Ignace, Ontario Sawmill
Resolute Forest Products is reporting a fire broke out on Sunday (5-15-22) at its Ignace, Ontario sawmill. The fire was confined to the mill’s kiln drying operations. The mill is expected to remain in production. Resolute says that the company will send lumber to its mill in Atikokan to be dried until repairs are completed at Ignace.
Guy C. Lee Building Materials Purchases E.W. Godwin’s Sons Lumber Company
Smithfield, North Carolina-based Guy C. Lee Building Materials has announced that it has purchased all of the assets of E.W. Godwin’s Sons Lumber Company, one of Wilmington, North Carolina’s oldest family-owned businesses. The purchase will provide Guy C. Lees the ability to fully integrate into the Wilmington market.
Dunkley Lumber Company Investing in Upgrades to Edgewood Forest Products Operation
Dunkley Lumber Company has announced that it is making a substantial investment to upgrade its Edgewood Forest Products operation. The company website says the Edgewood facility currently has an annual production capacity of 140 million board feet of SPF stud lumber and boards.
Memorandum of Understanding Strengthens Secwepemc Value-Added Supply Chain
A press release on Friday announced the signing of a Memorandum of Understanding (MOU) between B.C.’s Adams Lake Indian Band, Gilbert Smith Forest Products, and Woodtone Specialties. The MOU establishes a framework for the three parties to identify opportunities for cooperation, joint ventures, and shared decision making.
Interfor Corporation Acquires 16.2% Interest in GreenFirst Forest Products Inc.
Interfor Corporation announced on Monday (5-2-22) that its wholly owned subsidiary, Interfor East Ltd., had acquired 28,684,433 common shares in the capital of GreenFirst Forest Products Inc. (GreenFirst) from Rayonier A.M. Canada G.P., which represents approximately 16.2% of GreenFirst’s issued and outstanding common shares.
Lumber Demand Expected to Remain Strong, Even in a Recessionary Period
At last Thursday’s Council of Forest Industries conference, analysts and economists speaking at the forum began using the dreaded “R” word. Some speakers said openly that by end of 2022 or early 2023, at least Europe, and potentially North America, could be in a recession due to run-away inflation, the war in Ukraine, and rising interest rates.
Canfor Moving Forward on Comprehensive Sustainability Strategy—Net-Zero Carbon Emissions by 2050
“Over the next eight years Canfor intends to invest at least $250 million in carbon reduction initiatives at our facilities to reduce our emissions by 42% by 2030. Based on the projects identified to date, a majority of the funds are anticipated to be invested in our Western Canadian facilities.”
Ontario Offers $17.2 Million in Support of Proposal to Relocate and Expand Kenora Forest Products Mill Site
GreenFirst Forest Products Inc. has announced that it plans to use a large $17.2 million (CAD) performance-based loan from Ontario to support a proposal to relocate, improve, and expand the former Kenora Forest Products mill site. This performance-based loan is conditional on Ontario and the company finalizing a contract.