Conifex Timber announced that the agent for its lumber segment lenders approved in principle Conifex’s proposed asset divestment and restructuring plan. According to the announcement, the plan also provides additional credit support to Conifex to fund operations while it implements its asset divestiture plan. Pursuant to the plan, Conifex will…
The US Trade Representative (USTR) has indicated that laminated bamboo plywood (HS 44121005), thin plywood measuring less than 66 mm (HS 44123141155), and rattan for hand-made souvenirs (HS 46021223) are eligible for cuts in Generalized System of Preferences tariffs on exports to the US. US Commerce Secretary Wilbur Ross said…
Arauco, one of the largest forestry companies in the world, reported that sales revenue reached USD 1,387.2 million during the third quarter of 2019, a decrease of 10.5 percent compared to the same period of 2018 (3Q-2018: USD 1,549.9). Adjusted EBITDA reached USD 238.2 million, a very sharp drop of…
IKEA has acquired 42,000 acres of forestland in East Texas to source wood for its furniture, Dallas News reported.The Swedish furniture giant said the acquisition, coupled with the recent purchase of 18,000 acres in Southeast Oklahoma, nearly doubled its U.S. forestry portfolio to 125,000 acres. “We are committed to manage…
A report on wood millwork in the U.S. recently released from Freedonia Focus Reports predicts that demand will increase 2.4% annually in nominal terms through 2023. Gains will be driven by rising building construction activity, the aesthetically pleasing properties of wood, and the perception of wood as an environmentally friendly…
EU imports of tropical plywood products were 250,100 MT in the first nine months of 2019, 4% more than the same period last year. Import value increased 7% to €221.5 million. A large and growing proportion of the plywood faced with tropical hardwood imported into the EU is manufactured in…
Ghana recorded an export volume of 208,553 cu.m of wood products in the period January–August 2019, valued at EUR 106 million, according to the Timber Industry Development Division (TIDD). This represented decreases of almost 20% in volume and 9% in value compared with same period in 2018. Products for which…
Canfor Corporation, an integrated forest products manufacturer, announced it will be curtailing operations at all British Columbia sawmills at the end of December 2019. According to the company’s announcement, all sawmills, with the exception of WynnWood, will be curtailed for two weeks from December 23 through January 3, with operations…
On November 20-21 the 2019 edition of the International Hardwood Conference (IHC) took place in Berlin. The international meeting of the hardwood industry is one of the most important trade conferences in the industry and attracts a large number of visitors from all over the world every two years. The…
Prices for sawlogs in Finland continued the downward trend in October 2019. The average price for pine sawlogs was EUR 54.40 / m3, and for spruce sawlogs EUR 57.80 / m3. This is 2% less than in September and 11% less than the average prices in 2018, according to the Natural Resources Institute Finland…
