Metsä Group is planning a €300 million cost savings and profit improvement program in response to weak profitability and market uncertainty.
Wood Markets News
Meta Piloting Mass Timber for Sustainable Construction of Data Centers
Meta is adding mass timber to its lower-emissions construction strategy, part of its goal to reach net-zero emissions across its supply chain by 2030, ESG Dive reported.
Arbec Gradually Resumes Production at Its Sawmill in L’Ascension-de-Notre-Seigneur, QC
The Arbec sawmill in L’Ascension-de-Notre-Seigneur, Quebec, is gradually resuming operations, Radio-Canada reported.
Scierie St-Michel Sawmill in Saint-Michel-des-Saints, QC, Suspends Operations
Scierie St-Michel will temporarily suspend operations at its sawmill in Saint-Michel-des-Saints, Quebec, beginning Monday, Radio-Canada reported.
US Private Residential Construction Spending Slips in June
Private residential construction spending fell 0.7% in June, marking the sixth consecutive monthly decline, the Census Bureau and NAHB reported.
Auckland’s Tallest Timber Tower Set for Construction in 2027
Auckland’s tallest timber building is set to rise after JKG secured consent to construct an 11-story CLT development, Wood Central reported.
US National Interagency Fire Center Wildfire Update for August 4
As of Monday, 39 large wildfires or emergency responses are active across the US. Only two are partially contained.
US Construction Spending Slips in June
Total construction spending in June was at a seasonally adjusted annual rate of $2,136.2 billion, down 0.4% from the revised May estimate.
US Nonfarm Payroll Increases by 73,000 in July; Unemployment at 4.2%
Nonfarm payroll employment increased by 73,000 in July, led by health care and social assistance. May and June were revised down sharply.
USDA Invests in Conservation of 177,000 Acres of Private Working Forests
The US Forest Service is investing $106 million to support state and landowner efforts to conserve private working forestlands across the country.