Weyerhaeuser will acquire 117,000 acres from a subsidiary of Roseburg Forest Products for $375 million.
Wood Markets News
US New Residential Single-Family Home Sales Increase 10.9% in April
New single-family home sales in April increased 10.9% to a seasonally adjusted annual rate of 743,000.
Moelven Announces Permanent Closure of Its Sawmill in Ransby, Sweden
Moelven plans to close its sawmill in Ransby, Sweden—one of its two sawmills—citing weak profitability due to high raw material and production costs.
Ontario Invests in Modernization of Forestry Operations
Ontario is providing CA$11.3 million to support projects that innovate and modernize forestry operations in Northeastern Ontario.
US Multifamily Built-For-Rent Housing Starts Rise in Q1
Rental units accounted for 94% of all multifamily starts in Q1, NAHB reported.
Canadian Employment Insurance Benefits Hold Steady in March
The number of Canadians receiving regular Employment Insurance (EI) benefits held steady in March, rising 0.3%.
Homanit Plans to Build Its First US Manufacturing Facility in Alcolu, SC
Germany’s Homanit plans to build its first US manufacturing facility near Alcolu, South Carolina, according to the South Carolina Daily Gazette.
US Existing-Home Sales Decline 0.5% in April
Existing-home sales fell 0.5% in April to a seasonally adjusted annual rate of 4.00 million, NAR reported.
Canadian Industrial Product and Raw Materials Price Indices Decline in April
Softwood lumber prices were down 11.1%, marking the sharpest month-over-month decrease since June 2022.
Stora Enso Sells 12.4% of Its Swedish Forest Holdings
Stora Enso has entered into an agreement to divest approximately 175,000 hectares for an enterprise value of EUR 900 million.