2018 International Forest Industries IFI June July 2018 Digital | Page 22
LUMBER PROCESSING NEWS
Canfor Southern Pine invests $40 million in its dimension
lumber mill in Camden, South Carolina
Canfor Southern Pine, a leading
integrated forest products
company, will upgrade its existing
Camden, South Carolina sawmill in
Kershaw County. The company is
projected to invest $40 million in
the project, as South Carolina Dept.
of Commerce reports.
The company’s Camden facility
has been in operation since 1983
and manufactures dimension
lumber. To accommodate its
continued growth, Canfor will be
installing a new planer mill, as well
as new equipment throughout the
sawmilling operation to address
critical areas that limit production
capacity. The expansion will begin
this year and is expected to be
completed in the 4Q 2019.
Canfor Southern Pine Vice
President of U.S. Operations (East)
Keith McGregor said: “The Camden
facility has always been one of
our top-performing mills. This $40
million capital investment will
increase capacity by 50%, making
it our highest-producing facility
in the Southern U.S. The project
will also further enhance our first
quartile performance in safety and
quality. With this major investment,
the Camden plant will continue
to be a stable and significant
employer in this region, paying
good wages and benefits to our
valuable employees.”
Keith McGregor
Canfor Southern Pine
Vice President of U.S.
Operations (East)
CatchMark 1Q revenues increased by 4% to $24.1 m
In line with expectations,
CatchMark Timber Trust, Inc.
reported higher revenue, an
increase in GAAP net loss, and an
increase in Adjusted EBITDA for
the quarter ended March 31, 2018
compared to the three-month
period ended March 31, 2017.
Results were driven by a year-over-
year increase in harvest volume,
higher pulpwood pricing and the
strong financial performance of the
Dawsonville Bluffs joint venture.
CatchMark’s revenues increased
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to
$24.1 million
for the three
months ended March 31, 2018 from
$23.1 million for the three months
ended March 31, 2017 primarily
due to an increase in timber sales
revenue of $2.2 million.
For the three months ended
March 31, 2018, Adjusted EBITDA
was $14.9 million, a $4.3 million
increase from the three months
ended March 31, 2017, primarily
due to contributions from the
Dawsonville Bluffs Joint Venture
and an increase in net timber sales.
Jerry Barag, CatchMark’s
17:22
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and CEO
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another solid operating quarter
benefiting from increased harvest
volume fueled by last year’s
acquisitions and robust returns on
our investment in the Dawsonville
Bluffs joint venture. We adjusted
our harvest mix to take advantage
of increased pulpwood pricing
and we continued to increase our
delivered sales. Overall, we remain
very much on track to meet our
2018 operating plan and maintain a
healthy dividend.”
Jerry Barag, CatchMark’s
President and CEO
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18 International Forest Industries | JUNE / JULY 2018
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