Finland’s UPM announced that UPM Pulp, UPM Timber, and UPM Communication Papers will start change negotiations on possible temporary layoffs.
Wood Markets News
Total Outstanding Acquisition, Development, and Construction Loans Decline in 2023Q4
The volume of 1–4-unit residential construction loans made by FDIC-insured institutions declined 2.5% in 2023Q4, the NAHB reported.
Godfrey Forest Products Announces New OSB Mill in Jay, Maine
Godfrey Forest Products has announced plans to build a new OSB plant in Jay, Maine, Panel World Magazine reported.
Oregon Board of Forestry Votes to Advance Western Oregon State Forests Habitat Conservation Plan
The Oregon Board of Forestry voted 4–3 to advance the Western Oregon State Forests Habitat Conservation Plan, The Oregon Capital Chronicle reported.
US Wood Pellet Exports Decline Month-Over-Month but Increase Year-Over-Year in January
The US exported 742,824.6 metric tons of wood pellets in January, down from 1.01 million metric tons in December, a Biomass Magazine review USDA data shows.
The Neutral Project Seeks Approval for 32-Story Mass Timber Tower in Milwaukee, WI
The Neutral Project is pursing zoning approval for its proposed 32-story tower in Milwaukee, Wisconsin, Urban Milwaukee reported.
US Construction Employment Posts Solid Gain in February
Employment in construction increased by 23,000 in February, the BLS and NAHB reported.
US Nonfarm Payroll Increases by 275,000 in February; Unemployment Climbs to 3.9%
Total nonfarm payroll employment increased by 275,000 in February, above the average monthly gain of 230,000 over the prior 12 months.
Canadian Employment Increases in February; Unemployment Inches Higher to 5.8%
Canadian employment increased by 41,000 jobs in February. The unemployment rate increased 0.1 percentage points to 5.8%.
Kalesnikoff Announces Construction of Third New Mass Timber Facility in BC
BC-based Kalesnikoff Mass Timber announced it will grow its mass timber product offerings through the construction of a new third facility and product lines.