Canfor Corporation announced today that it will be investing approximately $210 million to build a new, state-of-the-art sawmill complex in southern Alabama. The new sawmill will be using leading technology and will have an annual capacity, based on a two-shift basis, of 250 million board feet.
News in lumber
Resolute Announces Ratification of 4-Year Labor Agreement With Unifor at 8 Quebec Sawmills
Resolute Forest Products Inc. announced on Monday the ratification of a four-year labor agreement with Unifor, the union which covers over 1,000 employees that work in eight of the company’s Quebec sawmills. The agreements were ratified on July 22.
Prairie Wood Products Sawmill in Grant County, Oregon, Reopens After 13-Year Closure
Closed in 2008 during the Great Recession, and reopened briefly only to close again in 2009, the Prairie Wood Product Sawmill in Grant County, Oregon, reopened in early July 2022 after sitting idle for more than 13-years.
With Wholesale Lumber Prices Down Nearly 50%, Can Lower Retail Lumber Prices Be Far Behind?
Paul Jannke, Principle of Lumber for Forest Economic Advisors, says that consumers may see the price of lumber at the retail store level decline considerably in the coming months. This would be after wholesale prices declined approximately 50% in June.
Amid Declining Softwood Lumber Prices, Canada’s Industrial Product Price Index & Raw Materials Price Index Are Trending Lower
Statistics Canada reported on Wednesday that the price of products manufactured in Canada as a measured by the Industrial Product Price Index (IPPI) declined by 1.1% month-over-month in June. This was the first monthly decline in the IPPI since August 2021, when it declined 0.3%.
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.
Nieman Enterprises Announces Reduction in Production at Its Hulett & Spearfish, South Dakota, Sawmills
A lack of available timber from the Black Hills National Forest has prompted South Dakota-based Neiman Enterprises to announce that it was eliminating a shift at its Devils Tower Forest Products sawmill facility, which is located in Hulett, and was reducing hours at its Spearfish sawmill as well.
Teal Jones Group Breaks Ground on New $110 Million Sawmill Facility in Bossier Parish, Louisiana
Teal-Jones Group, the privately held international forestry products company based in British Columbia, with U.S. operations in Virginia and Mississippi, officially broke ground on Monday (7-11-22) on its new $110 million green field southern yellow pine sawmill in Plain Dealing, Bossier Parish, Louisiana.
CME to Launch Mini Lumber Futures in August
CME Group Inc. plans to replace its lumber futures contract with a smaller version that will be deliverable to Chicago rather than Western Canada, following two volatile years that lifted prices to record highs.
Paper Excellence Group Announces Agreement to Acquire Resolute Forest Products Inc.
The Paper Excellence Group, through its wholly owned subsidiary Domtar Corporation (Domtar) today (7-6-22) announced it had entered into an […]