SmartLam North America has announced it will be investing $62 million to build a new 140,000-square-foot custom manufacturing plant with the capacity to produce 84 million board feet annually. SmartLam will also be adding equipment to fully automate its existing 225,000-square-foot facility.
Wood Markets News
Three More Unions Reach Tentative Agreements with US Class 1 Railroads; Four Others Continue to Negotiate
The National Carriers’ Conference Committee (NCCC), which represents the US freight railroads, announced on Sunday that three more railroad unions have reached a tentative agreement on a new labor contract with the NCCC. In total, eight unions have now accepted tentative deals.
EU Parliament to Decide Fate of Biomass Subsidies in Pending Vote
Part of the European Union’s renewable energy directive, the biomass amendments, will be subject to a plenary vote in the European Parliament on Wednesday. Three of the European Parliament’s largest political groups have backed the proposal to end subsidies for biomass used in power plants and exclude primary wood burning from the EU’s renewable energy targets.
Lot Values Set New Record Levels in 2021
According to the US Census Bureau’s Survey of Construction, lot values for single-family detached housing starts in 2021 increased across the country, with the national value in six out of nine Census division setting new records. The US median lot price now stands at $55,000.
Canadian Employment Declines and Unemployment Rises in August 2022
Statistics Canada reported on Friday that employment fell by 40,000, or 0.2%, in August, bringing the cumulative decline since May 2022 to 114,000, or 0.6%. StatsCan notes that the decline in employment since May has been primarily in full-time work.
US National Interagency Fire Center Update for September 12, 2022: Two New Wildfires
The US National Interagency Fire Center (NIFC) reported on Monday that the total number of large wildfires and complexes currently burning in the US has grown to 93, with more than 813,066 acres across 7 different states currently burning. Two new fires were reported within the past 24 hours.
BC’s San Group Announces Investments to Expand San Forest Products and Acorn Sawmill
San Group recently announced expansion projects totaling $23 million (CAD) to expand the company’s flagship value-added division, San Forest Products in Port Alberni, and the newly acquired Acorn Sawmill in Delta.
Hancock Lumber to Acquire Madison Lumber Mill
On Thursday, Hancock Lumber announced its plans to acquire Madison Lumber Mill, located in Madison, New Hampshire. The sale is expected to close on or before September 30th. Hancock has indicated the mill will continue to operate under the Madison Lumber name.
Pacheedaht First Nation and Teal Jones Sign Memorandum of Understanding
On Thursday, the Pacheedaht First Nation, located near Port Renfrew, BC, and Teal Jones agreed to identify specific forestry, business, commercial, and employment opportunities within the Nation’s traditional territories and pursue them through joint working agreements.
Paper Excellence Curtails Production at Crofton, BC, Paper Facility for Two Weeks
On Thursday, Paper Excellence announced that beginning Saturday, September 10 it would be curtailing production at its Crofton, BC, paper facility for two weeks. As a result, 95 employees will be temporarily laid off during the curtailment period.