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…
Catalyst Paper (TSX:CYT) today announced an investment of nearly $16 million in the Rumford pulp and paper mill in Maine, U.S. This is a planned second quarter investment that includes the company’s single largest maintenance expenditure in 2015. Approximately $11.4 million will be invested in various maintenance projects including upgrading the Rumford mill’s Recovery Boiler…
A hefty replenishment has been harvested for the Forestry Service Providers Compensation Fund. Minister Steve Thomson, Ministry of Forests, Lands and Natural Resource Operations, stood up for forest contractors and the communities they live in when he announced a $1 million top up to the fund at the Interior Logging Association’s 57th Annual Conference and…
Forget about a supercycle that’s going to boost lumber prices into the stratosphere. The recovery of British Columbia’s forest sector is now expected to be slow but steady growth. That’s the view coming out of PwC’s May 6 Global Forest and Paper Industry Conference in Vancouver. “The general fundamentals are positive, but you’ve got to…
Resolute Forest Products (NYSE:RFP)’s share pricetraded down 12.4% during trading on Thursday following a dissappointing earnings announcement, American Banking and Market News reports. The stock traded as low as $12.87 and last traded at $13.23, with a volume of 639,052 shares. The stock had previously closed at $15.11. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters…
Quebec-based forestry company Tembec says it has just endured a tough winter quarter that resulted in a $40-million loss. The loss amounted to 40 cents per share, which was deeper than a year-earlier loss of 28 cents per share or $28 million. Among other things, Tembec said winter weather had a bigger impact than anticipated…
Timber stocks have become must-have investments because of the growing demand for timber and because they have increased in value at a greater rate than inflation, giving the stocks minimal risk and significant upside potential. With this in mind let’s take a look at three of the top timber stocks that you should consider investing…
The Ontario Minister of Natural Resources and Forestry claims the forestry sector is “healthier” than it was in recent years. Bill Mauro said the Liberal government will be committing $60 million to forest access roads as well as making the forestry sector eligible for the Jobs and Prosperity Fund, which sits at $2.7 billion. This…
West Fraser Timber Co. Ltd. (TSX:WFT), citing the impact of a lower Canadian dollar, has reported an increase in fourth quarter revenue and earnings. Vancouver-based West Fraser said net income in the quarter rose to $49 million or 58 cents per share from $43 million or 51 cents in the comparable 2014 period. Revenue improved…
Linwood Custom Homes is the big dwarf of the North American home-building market, its chief executive likes to say. But even the giants got trampled by the U.S. housing crash seven years ago. “It was ugly,” said Bill Mascott, head of the Delta, B.C.-based manufacturer of home designs and building kits. “I think it is…