TTJ Internation Timber News

SCA’s forest products division saw an 18% reverse in operating profits last year.

Russian forest products group RusForest AB is to carry out a SKr450m rights issue to raise much needed capital in the face of weak market conditions and delays in machinery installation.

Boise Cascade Wood Products has bought the assets of Stimson Lumber Company Sawmill in Arden, Washington.

UPM’s forest and timber division saw a big decrease in profitability during 2011, registering operating profits of €52m (2010: €218m).

Russia-based sawmiller Ilim Timber produced 2.31 million m³ of wood products in 2011.

Holmen Timber has reported an operating loss of SKr136m for 2011 (2010: SKr20m profit) as the company faced high raw material costs and a weak market with pressure on prices.

Weyerhaeuser has launched a fire protection system for its TJI-joists.

Canfor has set up a new website with a blog called Canfor’s World of Wood.

The proportion of large-diameter trees in Finland has more than doubled in the past 60 years, according to the Finnish Forest Association.

The Ta Ann veneer mill in Tasmania had to close last week due to a protest by environmental campaigners claiming the company is felling old-growth trees.

Norbord’s European business continued to grow in 2011, with the operation’s earnings before interest, tax, depreciation and amortisation (EBITDA) up by US$7m to US$44m.

US house completions reached an estimated 583,900 units in 2011, 10.4% below the 2010 total (651,700).

Setra’s newly-published annual results show an operating loss of SKr42m (2010: SKr134m profit), mainly due to an imbalance between selling prices and raw material costs.

Europe’s largest wood pallet producer, Faber Halbertsma Group (FHG), has stated its international ambitions by acquiring German pallet pool PAKi Logistics.

Norwegian sawmiller and glulam producer Moelven has reported a sharp plunge in annual operating profits to NKr13m (2010: NKr243m).

Södra has beefed up its product offering by acquiring parquet flooring manufacturer Berg & Berg.

A two-year extension to the 2006 Softwood Lumber Agreement (SLA) has been agreed, granting “stability” to the volume softwood trade between the US and Canada.

Canadian sawmilling and lumber distribution business EACOM Timber has vowed its commitment to operations at the fire-hit Timmins mill, Ontario.

SNBG has secured a CFA8bn (US$15.8m) loan from the Central African Bank to help fund a new wood-processing facility in Gabon, according to news agency Bloomberg.

The...

Canada’s main securities regulator has extended the trading ban on Chinese timber company Sino-Forest Corp because the firm’s disclosures remain “incomplete”.