Canfor will close its Northwood pulp mill in Prince George, BC, in late Q4, removing 300,000 tonnes of annual NBSK capacity and affecting about 300 employees.
Wood Markets News
Irving Forest Products Ashland, ME, Sawmill Expansion Advances With State Funding
Irving Forest Products’ Ashland, Maine, sawmill expansion is advancing with state-backed financing to increase capacity to 250 million board feet, WAGM reported.
Ontario Invests CA$3.3 Million in Ontario Truss & Wall Expansion
Ontario is providing more than CA$3.3 million to help Ontario Truss & Wall expand capacity by nearly 70%.
BC Expands Value-Added Manufacturing Program to Secure Fiber for Businesses
BC is expanding its Value-Added Manufacturing Program with a new category securing timber for custom cutters and processors.
US Consumer Price Index Rises 3.5% Year-Over-Year in June
The Consumer Price Index for All Urban Consumers fell 0.4% in June on a seasonally adjusted basis but rose 3.5% year-over-year.
Södra Completes Sale of 25% SunPine Stake to VAROPreem
Södra completed the sale of its 25% stake in SunPine AB to VAROPreem, with the divestment expected to positively affect earnings during Q3.
Canadian Employment Rises by 88,000 in May; Unemployment at 6.6%
Canadian employment rose by 88,000 in May, while the unemployment rate decreased to 6.6%.
US Pending Home Sales Rise to Six-Week High
US pending home sales rose 1.3% week-over-week to a six-week high in the four weeks ending July 5, while new listings fell 2.5%, Redfin reported.
New CPKC Rail Connection Expands Bienville Lumber’s Distribution Network
A new CPKC rail connection is expanding Bienville Lumber’s distribution network as the Louisiana sawmill works to more than double annual output.
Value of Canadian Building Permits Falls in May
The total value of Canadian building permits fell 1.7% to CA$12.4 billion in May, as a 6.1% nonresidential decline offset residential gains.