Forestry firms continue to send their investment dollars elsewhere

By Vaughn Palmer
Vancouver Sun
December 3, 2021
Category: Business & Politics
Region: Canada, Canada West

Vaughn Palmer

VICTORIA — Forests Minister Katrine Conroy tried this week to put the best face on news of the closure of B.C.’s oldest paper mill. “I understand the company has cited the ongoing contraction of global paper markets and paper prices in Asia as the primary factors for the curtailment,” said Conroy following the announcement regarding the Catalyst Paper mill in Powell River. …But B.C. is also regarded as a high-cost producer of forest products. And when markets contract and prices falter, the highest-cost producers are the first in line to be driven to the wall. …But in the same week as Conroy and her colleagues were ramrodding the bills through with minimal debate, B.C.-based Interfor announced it was spending $490 million to acquire seven sawmills and a remanufacturing plant … in Ontario and in Quebec. …West Fraser announced Wednesday that it had completed a $300 million purchase of Angelina Forest Products … in Lufkin, Tex. 

Read More