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Industry gets cut down to half-size
The recession has cut the Canadian lumber industry down to little more than half its peak size, according to a report by the International Wood Markets Group.
In its annual report on the top 20 North American lumber producers, Vancouver-based Wood Markets states that Canadian lumber production is down 45 per cent to 19.4 billion board feet from its 2004 peak of 35.1 billion board feet.
Much of that decline was in the last year, when production fell by 21 per cent in the East and 17 per cent in the West, the report states.
"Indefinitely curtailed was the buzzword for 2009," states the report.
The Canadian lumber decline follows the decline in U.S. housing starts, which peaked at two million in 2006 and are now at 575,000.
The five-year-long drop in lumber supply has eliminated some companies completely and led to the emergence of three British Columbia-based super powers in the Canadian industry: West Fraser Timber, Canfor Corp. and Tolko Industries. The three are now the largest forest companies in the country. West Fraser is the largest in North America.
Read the full article here.
The recession has cut the Canadian lumber industry down to little more than half its peak size, according to a report by the International Wood Markets Group.
In its annual report on the top 20 North American lumber producers, Vancouver-based Wood Markets states that Canadian lumber production is down 45 per cent to 19.4 billion board feet from its 2004 peak of 35.1 billion board feet.
Much of that decline was in the last year, when production fell by 21 per cent in the East and 17 per cent in the West, the report states.
"Indefinitely curtailed was the buzzword for 2009," states the report.
The Canadian lumber decline follows the decline in U.S. housing starts, which peaked at two million in 2006 and are now at 575,000.
The five-year-long drop in lumber supply has eliminated some companies completely and led to the emergence of three British Columbia-based super powers in the Canadian industry: West Fraser Timber, Canfor Corp. and Tolko Industries. The three are now the largest forest companies in the country. West Fraser is the largest in North America.
Read the full article here.