Tree Frog Forestry News

Daily Archives: October 30, 2012

Business & Politics

Resolute, which trades on TSX, NYSE, delays release of third-quarter results

Canadian Press
October 29, 2012
Category: Business & Politics
Region: Canada

MONTREAL – Resolute Forest Products says it has postponed the release of its third-quarter financial results until Friday due to hurricane Sandy. The Montreal-based forestry company had originally planned to release the results on Tuesday. While Wall Street markets were shut down for Monday and Tuesday, the Toronto Stock Exchange remained open Monday and is expected to open Tuesday as scheduled.

Click here for press release from Resolute Forest Products

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Judge urged to lift freeze on Sino-Forest litigation

Globe and Mail
October 29, 2012
Category: Business & Politics
Region: Canada

Lawyers acting for burned investors in Sino-Forest Corp. argued Monday that a court-imposed freeze on litigation around the scandal-plagued company should be lifted to green light parts of their multimillion-dollar lawsuit against Sino-Forest’s underwriters and auditors, as well as three of its former executives. …If the allegations made by the Ontario Securities Commission and others are true, lawyer Dimitri Lascaris told the court, “this may well constitute one of the most damaging frauds in the history of Canada’s capital markets.”

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New company takes on Meadow Creek Cedar license

Nelson Star
October 30, 2012
Category: Business & Politics
Region: Canada, Canada West

A South Slocan company has assumed management of Meadow Creek Cedar’s forest license with plans to bring it back into compliance and eventually buy it. Trevor Kanigan, general manager of a group of companies that includes Gold Island Forest Products, says their intention is to satisfy outstanding obligations to lift the license’s suspension. “We’re in the process of getting that license running again,” he said in an interview. “We’re working with the Ministry of Forests to get it into a healthy state and a position to transfer ownership.”

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West Fraser Timber third-quarter earnings rise as lumber sales climb higher

Canadian Press
October 29, 2012
Category: Business & Politics
Region: Canada, Canada West

VANCOUVER – West Fraser Timber Co. Ltd. says its third-quarter earnings after discontinued operations rose 49 per cent to $55 million as lumber prices improved. The Vancouver-based forestry company said Monday that amounted to $1.27 per diluted share, up from $37 million, or 44 cents per diluted share, in the comparable 2011 quarter. Sales totalled $772 million, compared to $705 million. The company said lumber prices reflected gradually improving U.S. demand and continuing steady demand from both Canada and Asia.

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Plum Creek Timber Q3 Profit Misses Estimate; Sees Q4 EPS Below Consensus

Nasdaq
October 28, 2012
Category: Business & Politics
Region: United States

Plum Creek Timber Company, Inc. reported third quarter earnings of $59 million or $0.36 per share,compared to $50 million, or $0.31 per share for the year-ago quarter. Revenues for the third quarter rose to $354 million from $293 million a year ago. Analysts polled by Thomson Reuters expected the company to earn $0.37 per share on revenue of $347.02 million for the third quarter.

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High Costs Bedevil Builders

Shortages of Lumber, Land and Labor Push Up Prices of New-Home Construction
Wall Street Journal
October 25, 2012
Category: Business & Politics
Region: United States

New-home construction has picked up momentum in recent months after years of contraction. But the industry is facing a fresh challenge: building costs are going through the roof. …The cost of framing lumber, which makes up nearly one-sixth of the total construction cost of a home, has risen 21% in the past year. …Timber companies and drywall manufacturers, for example, laid off thousands of workers and idled capacity at plants when the downturn hit and want to see at least six months of rising demand before reversing course.

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Reason To Celebrate As Paper Mill Reopens In Grays Harbor

Northwest Public Radio
October 30, 2012
Category: Business & Politics
Region: United States, US West

Nearly 300,000 people in Washington are still unemployed and looking for work. But there was reason to celebrate Monday in coastal Grays Harbor County – where the unemployment rate is tied with Ferry County for the highest in the state. A shuttered paper mill there recently roared back to life. With it came 175 jobs. Correspondent Austin Jenkins reports. …It was nearly a year-and-a-half ago this mill shut down putting 250 people out of work — at a time when the economy offered no hope for a laid off worker.

Legislators and residents join Harbor Paper for their reopening celebration from KXRO Newsradio
Paper rolling out of Hoquiam again from King5.com

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Gunns likely to be liquidated: receivers

ABC News, Australia
October 30, 2012
Category: Business & Politics
Region: International

The receivers of Tasmanian timber company Gunns believe the company is likely to be liquidated early next year. It has been five weeks since Gunns entered administration, owing more than $500 million to its banks. The bank-appointed receivers, KordaMentha, have resumed harvesting and haulage of softwood tree plantations and have re-hired six contractors on short-term contracts. KordaMentha’s Bryan Webster says the harvesting will maintain assets and cover costs but will not go towards repaying debts at this stage.

Nothing left for Gunns owners from AAP

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Workers of Russia’s leading pulp and paper mill on verge of massive strikes

Pulp and Paper News
October 29, 2012
Category: Business & Politics
Region: International

Employees of the Baikal Pulp and Paper Mill, one of Russia’s largest PPM plants, plan to initiate a large-scale strike in a bid to increase the minimum wage by 30%. According to the union leader of Yuri Nabokov, since 2008 the salary at the enterprise fell by almost 30%, due to inflation and lack of indexation by the company.

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Gunns may follow Great Southern suit

Sydney Morning Herald
October 30, 2012
Category: Business & Politics
Region: International

THE law firm behind a mammoth class action against failed forestry group Great Southern that began yesterday is also considering whether to launch a similar action against Gunns. Macpherson + Kelley (M+K) principal Ron Willemsen told BusinessDay the firm was weeks away from filing an additional class action against a third failed forestry group, Willmott Forests, which it is already pursuing in Federal Court proceedings.

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Strong krona has negative impact on Södra’s results

Pulp and Paper News
October 29, 2012
Category: Business & Politics
Region: International

A weak international economic situation and massive fluctuations in currency exchange rates have adversely affected the markets for Södra’s primary products and contributed to a negative result for the first three quarters of the year. However, price levels have stabilised on the pulp market and a price increase was implemented in October. Södra’s operating profit for the first nine months of the year amounted to SEK -590 million, compared with SEK 879 million for the same period last year

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Wood, Paper & Green Building

London’s first LEED platinum office building almost done

Daily Commerical News
October 31, 2012
Category: Wood, Paper & Green Building
Region: International


London’s first LEED platinum office building wraps up construction at the end of November. …A concrete structure creates the first floor and concrete columns project into the second floor, he explains. On these column “trees” are a combination of tapered engineered wood and steel to support curved engineered wood girders. On top of the girders are truss joist I-beams and a 250 mm thick insulated panel system topped with a high-reflectance single ply membrane roof.

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Forestry

This day in history: October 30, 1951

Vancouver Sun
October 30, 2012
Category: Forestry
Region: Canada, Canada West

In 1951, lumber barons H.R. MacMillan and Prentice Bloedel decided to merge their companies. Shareholders approved the deal at a meeting at the Hotel Vancouver, and on Oct. 30, 1951, the new company, MacMillan Bloedel, held its first meeting. The merger of the H.R. MacMillan Export Company with Bloedel, Stewart and Welch Ltd. created the world’s second-largest forestry company, with assets of more than $100 million. Its holdings included huge tracts of timber, pulp mills, shingle mills and manufacturing plants. “Everything that goes to make an integrated (forestry) industry,” wrote Vancouver Sun business editor Lloyd Turner when the deal was announced.

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GUEST VIEWPOINT: Timber policy is just a matter of economics

by Sean Smith, Executive Vice President of Starfire Lumber Co.
The Register-Guard
October 30, 2012
Category: Forestry
Region: United States, US West

The neutron-star density of wild distortions, unfounded assumptions and false premises Roy Keene manages to cram into his opinion pieces generally dissuades knowledgeable people from responding to them, since it would typically take an article of equal length to adequately debunk a single paragraph of Keene’s, and a short book to deconstruct an entire article. Still, Keene’s polemic of Oct. 23 was over the top even for him — and demands a response — albeit with the understanding that space limits me to touching upon only the most egregious of his misrepresentations.

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Savannah wins Ga. urban forestry award for revitalization work on Chippewa Square

Associated Press
October 30, 2012
Category: Forestry
Region: US East, United States

SAVANNAH, Ga. — The Savannah square in which Forrest Gump sat on a park bench musing about life and chocolates has received an award-winning makeover. Savannah city officials are gathering Tuesday in Chippewa Square to celebrate winning this year’s the top honor from the nonprofit Georgia Urban Forestry Council. The Outstanding Community Grand Award recognizes recent work by Savannah’s Park and Tree Department to install new brick walkways, plant new trees and shrubs and install Victorian benches in the square.

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Investing in locally controlled forestry is a triple win

We need a better investment model to deliver food, fuel and fibre without sacrificing forests, which would benefit the economy, society and environment
The Guardian
October 29, 2012
Category: Forestry
Region: International

Forests are feeling the squeeze. Overall forest loss ran at 5.2m hectares per year between 2000-2010, driven principally by increasing consumer demand for food, fuel and fibre from a global population soaring upwards of 7 billion. ..Investing in Locally Controlled Forestry (ILCF) has emerged over the last three years as a strong candidate for this better investment model. Dialogues in nine countries in Africa, Asia, Europe and Latin America were convened by The Forest Dialogue (TFD) and funded by the Growing Forest Partnership (GFP) initiative and the government of Sweden (where 100 years of ILCF has already taken place.

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Lennon urges last-ditch deal on forestry

ABC News, Australia
October 30, 2012
Category: Forestry
Region: International

Former Tasmanian Premier Paul Lennon has warned of serious job losses in the forest ind ustry if a peace deal can not be reached. Efforts are underway to try to bring signatories back to the table after talks fell over at the weekend. Mr Lennon, a long-time supporter of the forestry sector says the Premier, Lara Giddings, has handled the process well and now is the time for her to get the parties back together.

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Barking up the wrong trees

The timber industry glibly spurned a compromise that could have saved Tasmanian forests.
Sydney Morning Herald
October 31, 2012
Category: Forestry
Region: International

FOR much of the past six months I have been locked in a small room in Hobart trying to negotiate an agreement with Tasmanian timber industry representatives to end the 30-year war over the forests in that beautiful but divided state. …. I had faith all of us around the table wanted a new way. …So imagine my surprise and anger when it became clear last weekend, at the 11th hour, the key negotiators for the big loggers and sawmillers were not prepared to move one inch from the position they had held since August last year, despite hundreds of hours of talks.

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Ash dieback: 100000 trees destroyed to halt spread

BBC News
October 29, 2012
Category: Forestry
Region: International

Ministers have said that 100,000 trees have been destroyed to try to prevent the spread of the deadly ash dieback disease. A ban on the import of ash trees came into force on Monday and an expert tree disease taskforce has been established. But Labour accused the government of being “asleep on the job” and failing to to act quickly enough. Ministers said they acted as soon as the disease was confirmed and had taken the threat “extremely seriously”.

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Native Australian timber faces extinction (video)

ABC News, Australia
October 30, 2012
Category: Forestry
Region: International

Sandalwood is sought the world over but is at risk of extinction, partly due to poaching and illegal trading of Western Australian timber.

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