Coastal Lumber Ceases Operations
Charlottesville, Va. based Coastal Lumber Co., long a major hardwood lumber producer, closed operations in mid-August. The company laid off 200 employees and shut down five sawmills in West Virginia, nearly 70 employees and the sawmill in Weldon, NC, nearly 70 employees and the sawmill in Hopwood, Pa., as well as six executive positions in Virginia and 30 companywide in sales, accounting, clerical and transportation.
On its web site, Coastal Lumber, which was founded in 1937, stated it produces more than 90MMBF feet of hardwood lumber each year and operates more than 25 dry kilns with 1.5MMBF board feet of kiln capacity, while also producing more than 70MMBF of green and air-dried lumber, and industrial grade hardwoods for use in the pallet and railroad tie industries.
In a statement to customers and suppliers, President, CEO and owner Victor Barringer, grandson of the company founder, blamed the “prolonged downturn” in the economy and the company’s inability to obtain reorganization financing for a plan to keep it afloat. Barringer said he was asked to make certain concessions that he was not willing to make as part of a new financing plan, but that he is still hopeful the company can find alternative financing in the future.
Latest News
IKEA Continues U.S. Timberland Purchases
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Ingka Investments, IKEA’s parent company, recently made two timberland acquisitions which nearly doubles its U.S. forestland portfolio. One purchase was in East Texas for 42,000 acres, following a deal for 18,000…
New Mexico Gains New Sawmill Venture
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Northern California’s Lance Forest Products is relocating a sawmill from Redding to Cimarron, New Mexico with the help of a $350,000 investment from the state Economic Development Dept. Lance Forest Products…
CLT Will Be Part of Upcoming Atlanta Conference
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); One of the main sessions during the upcoming Panel & Engineered Lumber International Conference to be held in Atlanta March 12-13, 2020 concerns mass timber products, marketing and construction. Several speakers…
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.