There were a few months early in 2015 when the U.S. housing market didn’t look so great. That dragged down a wide range of stocks, but the data has picked up since then, making housing an attractive opportunity for investors seeking value in the U.S. equity market. One way to play this trend is through…
Domtar Corporation (NYSE: UFS) (TSX: UFS) today announced the partial redemption of certain notes and a new debt financing. Domtar Corporation has elected to redeem on August 20, 2015, the redemption date, $55 million in aggregate principal amount of its 9.5% Notes due 2016, representing 59.16% of the outstanding notes, and $215 million in aggregate principal amount of its 10.75%…
A trend whereby B.C. forestry companies have been snapping up sawmills south of the border while shuttering plants here is likely to continue. That prediction, from a new Conference Board report, is part of a good news/bad news story about a sector contributing $12 billion annually to the province’s economy, along with 146,000 jobs. The…
The bullish hopes for a stronger recovery in B.C.’s lumber sector in 2015 ran smack into a more bearish first-quarter market, with a lot of U.S. shipments frozen out by harsh winter conditions and a slowdown in the China construction market. The results aren’t so clear in statistics on B.C. lumber shipments. But the scramble…
One of Canada’s most protected industries — British Columbia timber — has been targeted by Japan in the massive Trans-Pacific Partnership trade talks, The Canadian Press has learned. Japan is pushing Canada to eliminate or modify the controls it imposes on B.C. log exports — a practice that is heavily restricted by the federal and…
Management believes that gradual recovery in the U.S. housing market as well as timber supply shortage in Canada will boost demand for Weyerhaeuser’s Timberlands and Wood Products segments in 2015. Housing starts are expected to be approximately 1.1 million. Also, the company remains committed toward rewarding its shareholders through dividend payments and share buybacks. In…
The city of Prince George is calling on the province to release 800 million dollars in funding that was promised to communities across BC impacted by Pine Beetles. While a significant amount of money has been recieved, council says it is drying up when it is needed most. “Through our Omineca Beetle Action Coalition, we’ve…
Saskatchewan Premier Brad Wall says the province’s firefighting budget has been depleted, but crews will keep working in the north, where flames and smoke have forced at least 3,000 people from their homes. Evacuations started late last week in about a dozen communities around La Loche and La Ronge, which Wall tried to fly into…
The Honourable Greg Rickford, Canada’s Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario, today announced an investment of $2 million to support Domtar Inc. in developing and commercializing new premium grades of pulp at its facility in Dryden, Ontario. As a result of this investment, Domtar will launch…
Premier Christy Clark, Forests, Lands and Natural Resource Operations Minister Steve Thomson helped Lee Doney, chair, Western Forest Products, celebrate $30 million in new capital investment in the Duke Point sawmill. Of the $30 million, $28 million will be invested in Western Forest Products’ Duke Point sawmill to modernize the sawmill, planer mill and install…