Canfor has announced that it has entered into an agreement to purchase 70% of the VIDA Group of Sweden for a purchase price of 3,990 million Swedish Krona (approximately CAD$580 million) on a cash and debt free basis, which includes CAD$125 million (70%) of normalized working capital. The current owners of VIDA will retain a…
VANCOUVER BC — Conifex Timber Inc. has announced hat its wholly-owned subsidiary Conifex Power Limited Partnership completed a $70 million secured term loan with a syndicate of private lenders to refinance its existing loan. The Loan has a 15-year term, is secured by substantially all of the power segment assets and bears interest at a…
Canfor reported operating income of $201.8 million for the third quarter of 2018, down $80.3 million from reported operating income of $282.1 million for the second quarter of 2018, with the decline reflecting lower operating earnings in both the lumber and pulp and paper segments. Reported results for the third quarter of 2018 included a…
THUNDER BAY, ONTARIO — A 100% First Nations owned and operated company based in Thunder Bay has received province-wide recognition. It was officially announced on Thursday, October 18, 2018 that the Agoke Development Corporation (Agoke) was the recipient of the Business Partnership of the Year Award at the NADF Business Awards. The forestry enterprise owned…
Forest Products Association of Canada (FPAC) will appear before the Finance Committee of the House of Commons tomorrow (Tuesday), as part of pre-budget consultations. In doing so, the Association representing 230,000 forest sector workers will seek investments to accelerate innovation, commitments to improve competiveness and increase trade, and support for a vision to secure healthy…
Forest Products Association of Canada (FPAC) applauds the Canadian government, and in particular International Trade Diversification Minister Jim Carr, on the launch of the debate on Bill C-79 – the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) involving Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. This agreement will…
APPLETON, WI and WAPAKONETA, OH — Construction is well underway of Pratt Industries new Wapakoneta, Ohio, corrugated packaging mill, which includes a customized BlueLine stock preparation system from Voith. The stock preparation system is designed to handle approximately 425,000 tons of recycled fiber each year when the mill begins operation, planned for the second half…
Forest Products Association of Canada (FPAC) has shared with the federal government its recommendations to enhance Canadian competitiveness, accelerate innovation, and ensure future forests remain healthy in its 2019 pre-budget submission to the House of Commons Standing Committee on Finance. To support family-supporting jobs in rural and northern Canada, and to ensure a vibrant Canadian…
ARAUCO, a global producer of wood products, has announced the purchase of Panolam’s industrial assets located in Albany, Oregon. The acquisition continues the expansion of the company’s presence in the North American market. “With this acquisition, we are executing on our strategic plan to strengthen our footprint within the decorative laminate market in North America…
A team of University of Maine researchers has been awarded $1.17 million from the U.S. Department of Agriculture to develop and test land management practices to protect Maine forest workers from exposure to tick-borne diseases. The three-year project, “Developing adaptive forest management practices to mitigate impacts of climate change on human health,” is being led…