MONTREAL – Pulp, paper and lumber producer Tembec announced net earnings of $17 million in the June 2017 quarter compared to net earnings of $9 million in the June 2016 quarter. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $59 million for the three-month period ended June 24, 2017, as compared to…
MISSISSAUGA, ONT. – Weston Forest has expanded its operations into the United States with the purchase of the assets of Great Northern Lumber of Michigan. Weston Forest will operate the facility as Northern Industrial Woods Inc. The two companies have had a long-standing relationship, and Great Northern Lumber extends the reach of Weston’s remanufacturing capabilities….
VANCOUVER – West Fraser Timber Co. has reported its second quarter 2017 results, showing an increase in earnings and strong product pricing. The company’s lumber segment generated operating earnings of $171 million (Q1-17 – $152 million) and adjusted EBITDA of $240 million (Q1-17 – $191 million). Improved product pricing was said to be the primary…
A unique, two-week intensive lumber grading short course will be offered in Ontario next month. Block 1 of the National Hardwood Lumber Association training usually requires two weeks of hands-on study at the NHLA Inspector Training School in Memphis, Tenn. This year, in cooperation with the Canadian Hardwood Bureau, this block of hands-on training will…
TORONTO – Norbord has resumed production at the company’s OSB mill in 100 Mile House, B.C., the evacuation order for 100 Mile House and nearby communities was lifted. On July 10th, Norbord reported that the mill had temporarily suspended production in order to comply with evacuation orders due to wildfires burning in the region. All…
MONTREAL — Rayonier Advanced Materials has raised its takeover offer for Tembec after two of the Canadian forest products company’s shareholders had threatened to vote against the deal. Oaktree Capital Management and Restructuring Capital Associates, who together represent approximately 37 per cent of Tembec’s outstanding shares, have agreed to vote in favor of the new…
MONTREAL, QC – Two of the largest shareholders of Tembec Inc. have said they will not support the proposed acquisition by Rayonier Advanced Materials Inc. unless the company improves its offer. Oaktree Capital Management LP, which owns 19.9 per cent of the Canadian forest products company, said it would vote against Rayonier’s US$807-million acquisition offer….
SEATTLE – Weyerhaeuser estimates it will cost US$50-60 million to address customer concerns about its TJI Joists with Flak Jacket Protection product. The company has determined that recent customer feedback regarding an odor in certain newly constructed homes is related to a recent formula change to the Flak Jacket coating that included formaldehyde-based resin. Weyerhaeuser…
Coast Forest Products Association congratulated British Columbia’s 36th premier, John Horgan and his newly sworn in cabinet. “We look forward to collaborating and working together with the new provincial government,” the association said in a blog post. The association gave special acknowledgement to Minister of Forests, Lands, Natural Resource Operations and Rural Development Doug Donaldson,…
QUÉBEC – FPInnovations has received the Omond Solandt Award, which is presented annually to a public or private organization that has made an outstanding contribution to operational research in Canada. The Omond Solandt 2017 Award from the Canadian Operational Research Society was given to FPInnovations to highlight its commitment to research, particularly through its promotion…