Canfor Completes Purchase of Elliott Sawmilling Company Inc.

2022 was another strong year for Canfor, with the strength in global lumber market fundamentals experienced late in 2021 continuing well into the current year. Significant lumber demand led by solid activity in both new home construction and the repair and remodel segment, encountered tight supply due to supply chain disruptions. The result was ongoing global pricing pressure and high benchmark lumber prices through the first part of the year. As the year progressed, rising interest rates and inflation put significant downward pressure on housing affordability and global lumber market demand, leading to a rapid decline in global lumber market pricing in the latter part of the year. In response, the Company implemented reduced operating schedules at its Western Canadian operations. The Company’s strong earnings, however, reflect the continued benefit of its global diversification strategy which helped to moderate these challenges in British Columbia (“BC”).

Stora Enso’s investment of EUR 12 million in a biocomposite plant is part of the company’s ongoing process of becoming a renewable materials company. It shows that Stora Enso is a leader in the bioeconomy, with the ability to provide innovative, more sustainable alternatives to plastic. The company’s biocomposites, DuraSense™ by Stora Enso, make it possible to reduce the consumption of plastic by up to 60% and replace it with renewable wood fibre. Uses for biocomposites include everything from consumer goods to industrial applications, such as furniture, hand tools, automotive parts, toys and kitchen utensils. The combination of natural wood fibre, polymers and additives offer the mouldability of plastic with the sustainability and workability of wood. Click Read More below for additional information.

Modular construction, using timber as a key element, is a credible solution to fast and sustainable house building. However, Metsä Wood believes that more needs to be done in terms of sharing knowledge and innovation in wood construction to further advance the use of this material in mainstream construction. In order to help facilitate this process, Metsä Wood has launched its Open Source Wood initiative at www.opensourcewood.com. Metsä Wood's Executive Vice President, Esa Kaikkonen, explains: "Not enough knowledge about modular wood design and building is shared, so wood construction remains niche. There is plenty of innovation but it is difficult to find, so Open Source Wood is our solution. We believe that with open collaboration the industry can achieve significant growth." Click Read More below for additional information.