Boost in US Lumber demand takes Interfor’s earnings to record high in 2016

According to company press release, its adjusted earnings before tax, depreciation and amortization (EBITDA) in 2016 hit a record of $199.6 million, surpassing the previous record set in 2014. VANCOUVER (Scrap Monster): Interfor Corporation-one of the world’s leading lumber producers has reported record earnings in 2016, backed by strong growth in lumber demand in the US. The proceeds from sale of former sawmill property in Tacoma coupled with robust cash flow has helped the company to reduce its debt by [...]

Global lumber trade surges 12% to hit record high in 2016

The yearly lumber export volumes out of British Colombia reached their highest level during past ten years in 2016. VANCOUVER (Scrap Monster): The quarterly report published by Wood Resources International (WRI) suggests significant rise in global softwood lumber trade during 2016. The trade volumes have registered steady rise since the global financial recession in 2009. The shipments during the past seven years have surged higher by 66%, mainly driven by China. Meantime, lumber prices have declined considerably during this period, [...]

Resolute Forest Products declares indefinite idling of Thorold newsprint mill

The significant drop in North American newsprint consumption coupled with rising raw material cost has forced the company to go ahead with indefinite idling of the mill. MONTREAL (Scrap Monster): The Montreal-headquartered Resolute Forest Products has announced indefinite idling of its newsprint mill located in Thorold, Ontario. According to company press release, the decision is effective immediately. The mill had been undergoing temporary idling of operations since mid-December last year. The news release issued by the company stated the decision as [...]

Forestry sector seeks federal aid in contesting lumber trade war

The lumber trade fights between the US and Canada is heating up. VANCOUVER (Scrap Monster): The lumber trade fights between the US and Canada is heating up. Provincial Chambers of Commerce has noted that forestry companies are getting prepared for a trade war with the US. The Chambers, on behalf of forestry companies, has decided to send an open letter to Prime Minister Justin Trudeau requesting federal support in its fight against US imposition of hefty duties on softwood lumber [...]

Catalyst Paper Wins Top Industry Award For Eleventh Consecutive Year

Corporate Knights had been selecting winning companies on the basis of their performance against 12 key performance indicators for a number of years. SEATTLE (Scrap Monster): Catalyst Paper Corporation has announced that it has been selected as one of the Best 50 Corporate Citizens in Canada by the Corporate Knights Magazine. This is the 11th consecutive year that the company has won the top industry honor. The company won an overall score of 43.1% and was ranked 39 in the [...]

West Fraser Expands US Footprint By Acquiring Six More Sawmills

The Gilman Companies’ assets comprises of six sawmills and a finger-joint mill spread across Florida and Georgia. VANCOUVER (Scrap Monster): B.C-based West Fraser Timber Co. Ltd. has announced that it has entered into an agreement to acquire US lumber business for a sum of $430 million. The company will acquire the assets of the Gilman Companies from the Howard Gilman Foundation and other shareholders. The transaction is subject to regulatory approvals and customary conditions and is expected to close during [...]