Virginia Tech and the Virginia Department of Forestry are recipients of grants awarded under the Wood Innovation Grants Program (WIPG) from the US Department of Agriculture. WIPG looks at ways companies, organizations, and universities can stimulate and expand wood products and the wood energy markets.
oN5 is a new office building in downtown Vancouver, BC, constructed entirely of insulated, prefabricated cross-laminated timber (CLT). The new building includes instruments that monitor its performance, making it a living case study on the possibilities for urban infill projects with innovative mass timber.
According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending June 17, the Market Composite Index increased 4.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3.0% compared with the previous week.
A closer look at the Bureau of Labor Statistics’ nationwide total nonfarm payroll employment report for May and its impact on the construction sector, reveals that nonfarm payroll employment increased in 32 states and the District of Columbia, compared to April, while 18 states lost jobs.
Statistics Canada (StatsCan) reported today (6-22-22) that Canadians continued to feel the pinch of increasing prices in May, as consumer inflation rose 7.7% year-over-year. This is the largest yearly jump since January 1983 and is up from April’s 6.8% increase.
A strike at Canadian National Railway (CN), which began on Saturday, June 18 at 11:00 AM EDT by approximately 750 members of the International Brotherhood of Electrical Workers (IBEW), entered its third day on Tuesday with no signs of a settlement in sight. According to CN, despite the disruption, its daily operations will not be impacted.
UPM announced on Tuesday that it has entered into an agreement to sell 100% of the share in its Austrian subsidiary, UPM Kymmene-Austria GmbH, to the HEINZEL GROUP, a leading pulp, packaging, and paper producer and trader in Central and Eastern Europe. The parties have agreed not to disclose the value of the deal.
With supplies of key laminated veneered lumber (LVL) and engineered wood products (EWPs) imported from Russia and Belarus, which accounted for 40-50% of these construction products, no longer available due to sanctions, Australia’s tight timber markets are now facing a severe shortfall of products.
The National Association of Realtors® reported on Tuesday that total existing home sales declined in three out of the four reporting regions in May, falling by -3.4% from April to a seasonally adjusted rate of 5.41 million homes. This marks the fourth consecutive month of declining sales.
The US National Interagency Fire Center reported on Tuesday that 5 large new fires were reported yesterday: 3 in Alaska and 1 each in Florida and North Carolina. That increases the total number of wildfires currently burning throughout the US to 38, with more than 1,726,992 acres in nine states now burning.