The Pic River First Nation announced today a major investment in forestry purchasing harvesting equipment which will be used to supply area mills with needed fiber. The investment totals $2.5 million dollars. “We are pleased to announce that Pic River will be purchasing harvesters and forwarders from Ponsse. The equipment will add harvesting capacity for…
The U.S. Energy Information Administration has released its Annual Energy Outlook 2015 (AEO2015), which presents updated projections for U.S. energy markets through 2040 based on six different cases that reflect updated scenarios for crude oil prices. The six cases include the reference case, low and high economic growth, low and high oil price, and high…
Catalyst Paper’s earnings, before interest, taxes, depreciation and amortization, was down in its fourth quarter to $6.8 million from $8.0 million in the third quarter. The company reported a net loss, excluding specific items of $10.4 million in its fourth quarter compared to $10.8 million in its third. The results were a due to increased…
Funding announcements, the future of fibre and an informative discussion on Aboriginal land title highlighted the final day of the Council of Forest Industries’ (COFI) 2015 annual conference, which took place on April 8 and 9 in Prince George, B.C. Approximately 500 people packed into the auditoriums at the Prince George Civic Centre to listen…
Canadian lumber stocks have been in a major tailspin since mid-February, but it may be a while longer until they bottom, says Martin Roberge, portfolio strategist at Canaccord Genuity. “Do not chase down broken lumber stocks,” he said in a note to clients Thursday. “While we have a positive view on the U.S. housing market,…
James Gorman says there’s reasons to be optimistic and also a number of factors to keep an eye on over the next while in the forestry sector. The president of the Council of Forest Industries (COFI) made the comments on day one of their annual two day convention in Prince George this afternoon. “Some of…
With a federal election call a few months away, the Federal Government has announced the extension of its program to support the growth of overseas markets for Canada’s forest industry. Revenue Minister Kerry-Lynne Findlay made the announcement Wednesday afternoon at the Council of Forest Industries convention in Prince George. Findlay says the program will receive…
Norbord Inc. (“Norbord”) (TSX: NBD) and Ainsworth Lumber Co. Ltd. (“Ainsworth”) today announced the completion of their merger. Under the terms of the transaction, Norbord acquired all of the outstanding common shares of Ainsworth in an all-share transaction and Ainsworth shareholders received 0.1321 of a share of Norbord for each Ainsworth share. Ainsworth is now…
A new Northern Policy Institute report entitled Diversify, Innovate, Invest…and Grow identifies the Kenora district among five of the 11 Northern Ontario census districts to experience population growth from 2001 to 2013. The report’s author Julien Bonin attributes the decline in population in the six districts to a lack of economic diversification and reliance on…
Domtar Corporation announced today an investment by Schlumberger in CelluForce, a joint venture between Domtar and FPInnovations that manufactures wood-derived nanocrystalline cellulose (NCCTM). The investment is a collaboration to explore the use of NCC to enhance the productivity of oil and gas wells. Schlumberger is the world’s leading supplier of technology, integrated project management and information…