The southern pine beetle, one of the most destructive forest pests in the Southeast U.S., which has already destroyed millions of acres in its native South, has made its way to the State of Maine. The beetle was discovered in Waterboro, Maine last fall, and scientists say the ecosystem of Maine’s pitch pine barrens is now at risk.
News in timber
Longleaf Pine Initiative Helping to Restore Longleaf Pine Forests in Southeast U.S.
Longleaf pine forests once covered more than 90 million acres across the Southeast U.S. Over the past couple of centuries development, timbering and fire suppression has greatly reduced the ecosystem’s range. The longleaf pine forest represents some of the world’s most biologically diverse ecosystems and are home to nearly 600 plant and animal species.
GO Lab Inc. to Build First North American Wood-Fiber Insulation Factory in Madison, Maine
GO Lab Inc., a Belfast, Maine startup, has closed on the sale of $85 million in bond funding and completed a New Markets Tax Credit transaction that will fund the construction of a wood-fiber insulation factory at the former UPM paper in Madison. If construction work goes as planned, GO Lab expects to be producing its TimberHP loose-fill insulation in Q1 of 2023, followed by wood fiber batt and board products in Q2 and Q3.
China Updates Phytosanitary Requirements for Pine Log and Lumber Imports
China Customs released new phytosanitary rules on importing pine logs and lumber from 7 countries due to pine nematode concerns. The new rules include an updated list of designated Chinese ports pine logs and lumber can be imported starting February 1st, 2022.
PotlatchDeltic Corporation Announces Merger with Loutre Land and Timber Company
PotlatchDeltic Corporation announced today (12-23-21) a merger with Loutre Land and Timber Company. To meet the terms of the transaction, PotlatchDeltic has issued 1.96 million shares of common stock and assumed debt of $6.6 million, in exchange for Loutre’s 51,340 acres of high-quality, well-stocked timberlands in southern Arkansas and northern Louisiana.
B.C. Government Provides Update on Progress in Old-Growth Forest Deferrals
On Thursday (12-16-21), the B.C. government released a progress report on the steps taken since they announced in early November that harvesting would immediately cease in 2.6 million hectares of old-growth forests. The report noted that the government was making progress on the recommendations of its Old Growth Strategic Review Panel and is continuing to work with First Nations.
B.C. Government Hears from 161 First Nations on Old-Growth Deferral Plan
In early November, the B.C. government announced that its expert panel had mapped out 26,000 square kilometers of old-growth forest at risk of permanent biodiversity loss. At that time, the government asked more than 200 First Nations in the province to decide within 30-days whether they would support the planned deferrals in those area, or if the plan required further discussion.
Syilx Okanagan Nation Rejects B.C.’s Process to Identify Old-Growth Forests
On Friday (12-17-21), the Syilx Okanagan Nation, the tribal council representing seven area First Nations, said they are rejecting the process that the B.C. province has used to identify old-growth forests. The Okanagan Nation Alliance (ONA) chair Clarence Louie slammed the province’s consultation process as “inadequate and superficial,” noting all of the Syilx community forestry companies have been left out.
lida Group Holdings Buys Majority Stake in Russian Forest Products
Iida Group Holdings (IGH), a leading Japanese real estate development firm, announced on Wednesday (12-8-21) that it has received Russian Government approval and is buying a majority stake (75%) in Russian Forest Products for nearly $530 million. IGH says the acquisition will provide the company with access to one of the world’s largest forests, spanning roughly four million hectares in the Russian Far East.
Huu-ay-aht First Nations to Honor Major Portion of B.C. Government’s Old-Growth Forestry Deferral
The Bamfield-based Huu-ay-aht First Nations have agreed to honor a major portion of the B.C. provincial government’s recent decision on old growth forestry deferral. The determination is preliminary and only refers to Huu-ay-aht First Nations interests, not those of any other First Nations. Chief Councilor Robert Dennis Sr. noted that much of the area set aside for deferral is already protected or not planned for harvest within the next two years.