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
Two Rivers Lumber Co. To Build $65 Million Alabama Sawmill
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Governor Robert Bentley announced that Two Rivers Lumber Co. plans to invest $65 million to build a state-of-the-art sawmill in Demopolis that will create 55 jobs initially and a total of…
Report Details Global Softwood Lumber Price Growth
The upward trend of global softwood lumber prices is charted in the latest market update from Wood Resource Quarterly. Higher prices during the first six months of 2016 are due to higher demand and a…
Canadian Lumber Executives Press Softwood Deal With U.S.
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Canadian lumber and government officials told the U.S. trade representative that any new softwood lumber agreement must reflect the differences in forestry regimes across the country. The chief executives of 10…
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.