Canfor to Invest in New Facility in Alabama

Canfor Corporation (TSX:CFP) is pleased to announce it will invest approximately $210 million USD to build a new, state-of-the-art sawmill complex in southern Alabama. Using leading technology, the new sawmill will have an annual production capacity of 250 million board feet on a two-shift basis and will provide a new, modern work environment for the approximately 130 people who will be employed directly, in addition to supporting significant indirect jobs.

In alignment with our sustainability goals and decarbonization targets, the facility design includes investment in a biomass-fueled lumber drying system. Startup of the facility is anticipated in the third quarter of 2024.

“Building on Canfor’s proud operating history in Alabama, we are excited to invest in a new world-class facility that will ensure our long-term ability to operate competitively. In addition, the facility’s versatility and flexibility will enhance our ability to more closely align our production of high-quality products with market demand,” said Don Kayne, President and CEO, Canfor.

“We greatly value our employees and are committed to providing family-supporting jobs and generating economic activity in the region. We are pleased to be transforming the workplace for our employees by providing a new, modern facility that will continue to operate for generations,” said Tony Sheffield, President, Canfor Southern Pine.

“The expansion of Canfor is a strategic investment in the community, sawmill industry and economy of South Alabama. As one of the most heavily forested states in the nation, Alabama has ample opportunity to attract significant new capital investment in the forest industry, and it’s apparent we’re doing just that,” said Governor Kay Ivey. “Mobile – and all of Alabama – has been proud to be the host of Canfor’s U.S. headquarters, and we look forward to seeing their continued, nation-wide success after this highly-anticipated and much-needed facility growth.”

The new facility will replace the existing operation in the City of Mobile. Following the construction and startup of the new facility, an orderly wind down of the Mobile operation will be undertaken. All current employees will have the opportunity to remain with the Company.
https://www.canfor.com/docs/default-source/news-2022/nr2022-07-28-canfor-to-invest-in-new-facility-in-alabama.pdf?sfvrsn=856de091_2

Related Posts

Resolute Reports Preliminary Third Quarter 2021 Results

The company reported operating income of $102 million in the quarter, compared to $406 million in the second quarter of 2021. The $304 million variation reflects lower realized prices and shipments in wood products ($342 million), partly offset by higher realized prices in the pulp and paper segments ($32 million), and higher volume in market pulp ($9 million). The wood products segment generated operating income of $64 million in the quarter, a decrease of $341 million from the previous quarter. With benchmark lumber prices falling from the record highs attained in May, the average transaction price fell to $573 per thousand board feet, a $583 per thousand board feet, or 50%, decrease from the previous quarter. The company generated operating income of $46 million in the market pulp segment, an increase of $16 million from the previous quarter. The average transaction price increased by $39 per metric ton, or 5%, to $826 per metric ton, with gains in all grades. The tissue segment incurred an operating loss of $9 million in the quarter, $2 million wider than the previous quarter. The average transaction price decreased by $60 per short ton, or 3%, due to unfavorable product mix, while delivered costs decreased by $109 per short ton, or 5%, with less downtime than in the previous quarter. The company generated an operating income of $16 million in the paper segment in the quarter, an increase of $23 million from the previous quarter. The average transaction price rose by $54 per metric ton, or 9%, with price recovery reflecting tightening global markets.

Ahlstrom and Terre de Couleur develop fiber-based hair cap to curb single-use plastic consumption in the beauty industry

Through a unique value-chain collaborative innovation, sustainable specialty materials leader Ahlstrom and cosmetic brand Terre de Couleur have launched a biodegradable and reusable, fiber-based hair cap for home and professional cosmetic use. Terre de Couleur had an ambitious goal – to remove or decrease the plastic content in their single-use 100% plastic hair cap without compromising the performance nor the usage experience and comfort of hair professionals and consumers alike. The cap offers many advantages in cosmetic applications such as shower use, hair mask applications, and hair coloring in professional or home setting to allow: *Hair protection *Maintains optimal humidity and heat for color or hair care setting *Hand washable and reusable *Chain-of-Custody Forestry Certified according to FSC® and PEFC™ standards *Ahlstrom’s Genuine Vegetable Parchment certified home compostable with OK COMPOST HOME from TÜV and industrially compostable with OK COMPOST from TÜV (EN13432)

GreenFirst Signs Definitive Agreement to Sell Two Sawmills for Approximately $90M

GreenFirst Forest Products Inc. is pleased to announce that it has entered into a definitive agreement to sell its La Sarre and Béarn sawmills and its Abitibi and Témiscamingue forestry operations, as well as their related assets and business operations (the “Quebec Assets”) to Chantiers Chibougamau Ltée (“Chantiers Chibougamau”), a long-standing Quebec-based and family-controlled forestry company, for approximately $90 million in cash payable at closing, including approximately $40 million for specific working capital items (subject to customary closing adjustments). Quebec-based employees are expected to continue to be employed by Chantiers Chibougamau post-closing. GreenFirst expects to use the net proceeds from the sale to strengthen its balance sheet and continue investing in its Ontario operations. The sale of the Quebec Assets is expected to close in Q1 2023.
Back To Top
×Close search
Search