On Thursday, the US Department of Commerce issued the final determination on its third administrative review (AR3) of US imports of certain softwood lumber products from Canada. In response, Canada said that it intends to challenge the final determination, including through launching a dispute settlement process under the US-Mexico-Canada trade agreement (USMCA).
News in lumber
US DOC Issues Final Determination in the Third Administrative Review of US Lumber Imports from Canada
On Thursday, August 4th, the US Department of Commerce (DOC) issued the final determination on its third Administrative Review (AR3) of US imports of certain softwood lumber products from Canada.
BID Group Completes Purchase of Smith Sawmill Service
The BID Group announced on Tuesday that it has successfully completed the purchase of Smith Sawmill Service, which was announced in June. Smith is one of the largest suppliers and service providers of saws, cutting tools, filing room equipment, and critical consumable products to the wood processing industry.
Jasper Lumber Co. Receives Supplemental Funding to Support Mill Expansion and Production Growth
Alabama Gov. Kay Ivey recently announced supplemental funding from the Appalachian Regional Commission has been made available to augment the $300,000 Community Development Block Grant, awarded in March 2022, to assist Jasper Lumber Company to boost its production and create 60 new jobs.
USNR Acquires Timber Automation Company
USNR, a division of Wood Technologies International, announced on Thursday that it had acquired Timber Automation Company, located in Hot Springs, Arkansas. According to USNR’s press release, the combination will add more than 250 employees and 200,000 square feet of manufacturing space.
Western Forest Products Inc. Selects Steven Hofer as Next President & CEO
Western Forest Products Inc. on Thursday announced that effective September 7, Steven Hofer will assume the role of its President and CEO, as well as a member of the company’s board of directors. Mr. Hofer succeeds Don Demens, who will remain at Western in an advisory capacity until March 31, 2023.
Canfor Corporation Announces $210 Million Investment In a New Sawmill Facility in Southern Alabama
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.
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.