CBC NEWS — A First Nation in northwestern Ontario and a local conservation group want a piece of land that extends into Eagle Lake near Dryden removed from future forestry management planning and set aside so it becomes permanently off-limits to logging. That comes as the company that holds the sustainable forest license for the…
Alberta-Pacific Forest Industries Inc. has won a 2018 Forest Stewardship Council (FSC) Leadership Award for its work managing more than 14.5 million acres of FSC-certified forest, the largest contiguous area certified in the world. “Alberta-Pacific Forest Industries Inc. (Al-Pac) is honoured to have been selected for the 2018 FSC Leadership Award and grateful for the…
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…
Remsoft, has announced the launch of Remsoft Operations, a cloud-based operational management solution for forestry companies. Responding to growing client demand, and drawing on its expertise in planning, scheduling and advanced analytics, Remsoft Operations is the first of its kind for Remsoft in the operational planning space. Built on the Remsoft RISE Platform, companies can…
VANCOUVER — CNW — West Fraser has announced it will permanently curtail approximately 300 million board feet of combined lumber production at its Fraser Lake and Quesnel Sawmills. The curtailment will be realized through the elimination of the third shift at each sawmill. The reduction in lumber production is expected to impact approximately 60 employees…
VICTORIA, BC, CNW — Indigenous communities have long been stewards of the environment, and the Government of Canada shares their commitment to conserving and protecting Canada’s nature, our diverse ecosystems, and species at risk. Today, the Minister of Environment and Climate Change, Catherine McKenna, announced that 28 Indigenous projects have been selected for early funding…
Canada will continue to be a major supplier of softwood lumber to the US in the next decade, with the export volume from the Eastern provinces being forecasted to increase substantially, according to a study by ForestEdge and WRI. The softwood sawmilling sector in Eastern Canada will play an increasingly important role as a key…
The City of Saskatoon is testing out an environmentally friendly way to make roads less slick this winter. According to a report by the CBC, the city of Saskatoon was inspired by cities in Switzerland and Quebec. City workers will be using wood chips on icy roads in the North Industrial Area rather than sand…
VANCOUVER, CNW — Canfor Corporation has announced it has entered into an agreement to purchase Elliott Sawmilling Co., Inc. located in Estill, South Carolina for a purchase price of US$110 million, which includes normalized working capital. The purchase price represents a 4.3 times EBITDA multiple based on Elliott’s twelve months trailing EBITDA. The transaction will…
Interfor Corp.’s share price was trading down more than 9 % Friday (Nov. 9, 2018) as the company missed earnings expectations amid volatile lumber prices. “The dominating feature of the third quarter this year was the drop, in lumber prices that began in late May and early June and continued unabated through the third quarter…