News in lumber


West Fraser Enters into Agreement to Purchase Angelina Forest Products Lumber Mill in Lufkin, Texas

West Fraser Timber Co. Ltd. announced today (10-12-21) that it has entered into an agreement to acquire Angelina Forest Products lumber mill located in Lufkin, Texas for approximately $300 million (USD), subject to certain post-closing adjustments. West Fraser is anticipating the transaction will close following successful completion of U.S. regulatory reviews and satisfaction of customary conditions.

EACOM Timber Corp. Turns to International Recruitment to Fill Labor Gap in Northern Ontario and Northern Quebec

A shortage of available workers to fill open positions at EACOM Timber Corp.’s northern Ontario and Quebec sawmills has the company turning to an international recruitment company for assistance. EACOM has been working with the IVEY Group, a Sudbury, Ontario-based international recruitment and consulting firm, for several years to aid them in recruiting and retaining workers in their northern communities.

Sierra Pacific Industries Completes Acquisition of Seneca

Sierra Pacific Industries (SPI), the Anderson California-based forest products company, announced last week that it has completed its acquisition of Seneca, a Eugene Oregon-based company that, prior to the acquisition, had about 400 employees and owned about 167,000 acres of timberlands.

California Governor Vetoes Tropical Deforestation Bill — Cites Added Burden on Small Businesses Trying to Participate in State Contracts

On Wednesday (10-6-21), California Gov. Gavin Newsom vetoed a bill that would have required businesses selling certain products to the state to prove they’re not contributing to tropical deforestation. Environmental advocates had hoped Newsom would make California the first state to limit contracts to businesses that can prove their supply chains don’t engage in the destruction of tropical forests, which is a major contributor to global climate change.

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.