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The Latest Key Prices from Madison's Canadian Lumber ReporterNEWS THIS WEEKBiomass Fuel ; Calling Lumber Producers and Wholesalers . . . ; Tolko president Al Thorlakson steps down ; 4Q 2009 ; Value of Canadian Residential Permits Up ; BC Labour Issues ; Link to Lumber Price GraphsLink to News ArchivesUpdated on February 07, 2010
All prices are in U.S. dollars per 1000 board feet unless otherwise noted. |
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Well known BC lumberman Al Thorlakson stepped down Thursday as president of Tolko Industies, formed more than half a century ago by his father. Thorlakson, 70, is being replaced by his son, Brad Thorlakson, maintaining the family grip on the Vernon-based forest company into the third generation, according to the Vancouver Sun. Thorlakson is to remain active in the company as executive chair of the board. Successor Brad Thorlakson has been in the company since 1978 and heads Tolko Marketing and Sales. Ltd.
Domtar is reporting a quarterly net profit of $124 million in 4Q 2009. In comparison, Domtar reported a net loss of $676 million in its 4Q 2008. In 4Q 2009, Domtar received a tax credit of $162 million through alternative bio fuel mixture programs.
In 4Q 2009, International Paper reported a net loss of US$101 million compared with a net loss of US$1.8 billion in 4Q 2008. Amounts in all periods include special items. During 2009, International Paper generated US$4.1 billion of free cash flow, compared with US$1.7 billion in 2008, as well as US$1.7 billion received from alternative fuel mixture credits. The company also repaid US$3.1 billion of debt during 2009. At year end, the company had US$1.9 billion in cash and $2.5 billion in committed liquidity facilities.
The value of Canadian building permits rose by 2.4 per cent in December from November and ended the year having largely recouped losses suffered during the recession, Statistics Canada said Thursday. The overall value of permits in December was $6.2 billion, 32.6 per cent higher than in December 2008. The sharp slide in permits started after September 2008, a month when the overall value hit $6.5 billion.
Canadian Building Permits
The nonresidential sector rose by 6.8 per cent in December from November. The residential sector fell by 0.1 percent, ending a run of nine straight monthly increases, but was 47.3 per cent higher than in December 2008.
“In recent months, the value of (residential) permits has started to approach the peak reached before the economic slowdown,” Statscan said in its daily commentary.
The value of commercial building permits increased for the third straight month, advancing 29.2 per cent to $1.5 billion in December. The consecutive gains raised the level of construction intentions for commercial buildings to their highest point in 2009.
In the institutional component, municipalities issued permits worth $514 million in December, down 21.9 per cent. It was the second consecutive decline.
On January 29, 2010 the United Steelworkers released a notice stating, “Despite assurances that West Fraser was prepared to lead the forest industry into a new collective agreement, the BC Interior Bargaining Committee did not see their bargaining approach as a productive exercise.
Despite this, the BC Interior Bargaining Committee remains committed to negotiating with West Fraser to reach a progressive agreement. The bargaining committee is waiting to hear from West Fraser on their plans to resume bargaining.”
Bob Matters of the Steelworkers told Madison’s Friday that negotiations with Canfor have been proceeding all week, and are scheduled to continue next week.” We have made limited progress with Canfor and will be back at the bargaining table in Prince George Monday,” said Matters.
