A new report shows some of New Brunswick’s wood products manufacturers could soon experience a rebound, due to an improving housing market south of the border.
A report released by Scotiabank points out an increased demand for wood products in the U.S. According to the report the rebound is due in part to an improving U.S. housing market and west coast lumber being exported to Asian markets.
The province exports about 80% of its finished wood products to the U.S.
David Palmer, the manager of the York Sunbury Charlotte Forest Products Marketing Board, said there are already preparations at one of the company’s mills.
“We’ve had seven years of poor markets,” said Palmer. “We purchased [the old M.L. Wilkins and Son Ltd. Sawmill] four years ago, and all during that time period, the markets have been too low to really run the mill profitably. It’s only been in the last six to 12 months or so that the prices have come back enough to make it feasible to operate the mill.”