Canfor Turning Export Focus to Asia

Friday, April 30, 2010 02:13 PM

Prince George, B.C.- Canfor is looking to expand it’s export opportunities with Asia.

In a conference call this morning to discuss the first quarter results, CEO Jim Shepard said Canfor has seen exponential growth in exports to Asia in the first quarter. He says there is a growing appetite for higher grades of lumber and he expects that demand to increase.

The increase in exports to China is having an impact on this side of the Pacific. As the supply of lumber in North America is held in check, that is helping to boost the price of lumber.

While Shepard was very optimistic about the growth of the lumber market in Asia, he was not so bullish on the North American picture because the U.S. is still not out of it’s housing slump “"There may be rays of sunlight shining right now, but there are still some clouds in the horizon, particularly in the United States, like the expected continuation of home mortgage foreclosures and the constraining high unemployment numbers."

Canfor has added a shift at the Mackenzie Mill, a third shift at the Polar planer mill in Bear Lake, and will re-open it's Chetwynd sawmill next month, despite all of that Shepard isn't ready to say the downturn in the industry is over, "I'd like to say we are at the beginning of the end, but that remains to be seen. I do, however, genuinely feel that we are past the worst of it and we came through in one piece and in good shape."

Previous Story - Next Story

Email |

Print |

Facebook |

Twitter |

Digg |

Del.icio.us

Posted on Friday, April 30, 2010 02:13 PM in News by 250 News

Return to Home

Comments

Posted by: He spoke on April 30 2010 2:42 PM

Sell, sell, sell that wood to China. Lets sell upto 33 % of our production to China.

Posted by: seamutt on April 30 2010 3:45 PM

He says there is a growing appetite for higher grades of lumber and he expects that demand to increase.

So we will only get more junk wood for our use, all the good stuff will be exported.

Posted by: greatmysticbushape on April 30 2010 6:31 PM

if the Chinese won't save us - who's gonna save us?

Posted by: pgguru on April 30 2010 7:42 PM

start up the great rustads bros shepard!

Posted by: lmorge on May 1 2010 12:30 AM

Woe be to BC should China/Asia decide to get wood from Russia.

Posted by: Stompin Tom on May 1 2010 8:44 AM

Price of lumber has dropped like a rock the past week, to many mills going back online.

Posted by: northman on May 1 2010 8:47 AM

Canfor sells "high grade lumber"?

-Thats the joke and punchline all in one..

Posted by: Quesfor on May 1 2010 11:15 AM

Canfor Quesnel- Exporting Jobs. On friday, Canfor had a meeting to discuss the future of this operation with its remaining employees. Not only will this mill now export 100% of its production to china, it will be exporting 40 full time jobs as well. Absolutely nothing will be done to the lumber product to add value. It will not be graded, stress rated or even stamped for this mill. All lumber will go out as a single package and be shipped off that way. The customer then gets to add the value. Not only that, Canfor wants additional concessions in addition to the contract we just voted in. Why have a contract that the have no intention of honouring? All that the union seems to care about is getting some members back to work so the union dues keep rolling in. All Canfor has done is pit its employees against eachother. The senior workers probably dont care about the jobs being lost so they want their jobs back. A vote will be held on monday and potential mill restart in a month or two, on two shifts, 4 ten hour days a week. This is also clearly a take it or leave it deal, as you are either voting yourself a job or not. Way to go Canfor- Uprooting Comunities- one at a time.