$80 Million Investment In Arkansas Sawmill To Create 120 Jobs
A Canadian timber company will invest $80 million in an El Dorado sawmill, creating 120 new jobs, the Arkansas Economic Development Commission said in a statement.
Conifex Timber will create a “state-of-the-art” sawmill at a site previously owned by Georgia-Pacific, the statement said, noting Gov. Asa Hutchinson and company officials formally announced the new jobs at an event in El Dorado on Monday morning.
“Timber plays a vital role in our state’s economic vitality,” Hutchinson said in the statement. “The industry directly employs more than 37,200 workers in Arkansas, and I’m thrilled to welcome Conifex to the state.”
The state provided several incentives to Conifex, including one $1 million grant initially and the chance in 10 months for a second grant, also worth $1 million, if the jobs are added as planned.
Conifex plans to initially produce 180 million board feet from the mill, the statement said, noting the firm will purchase an estimated 700,000 tons of sawtimber — or $30 million worth — from suppliers within about 60 miles.
From Arkansas Online: arkansasonline.com.
Latest News
Scotiabank Declares Lumber Its Top Investment Pick For 2013
After four years of being the forgotten commodity, lumber is back in the spotlight, named Scotiabank’s top pick for investors for the coming year. “The investment sentiment has changed,” said Patricia Mohr, vice-president of economics…
Klausner To Proceed Building $110 Million North Carolina Sawmill
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Gov. Bev Perdue announced recently that Klausner Lumber Two, a privately-owned softwood timber manufacturer, will establish a state-of-the-art sawmill in Halifax County. The company plans to create 350 jobs over the…
EACOM Timber Corporation Approves USNR To Rebuild Timmins Mill
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); EACOM Timber Corporation is pleased to announce that the Board has approved entering into an agreement with USNRKockums Cancar Inc. to rebuild the Timmins Mill. The total cost of the project…
Canfor Announces Capital Investments In Elko Sawmill
Canfor Corporation announced today that the Company will proceed with capital investments totaling an estimated $40 million in its Elko sawmill, located in the Kootenay region of British Columbia. This investment is part of a…
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.