EACOM Timber Corporation Approves USNR To Rebuild Timmins Mill
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 is estimated at $25 million, a substantial portion of which is being funded from proceeds of insurance related to a fire.a
As reported in January of this year, the mill located in Timmins Ontario was destroyed by fire. To date the Company has received $23,700,000 of insurance proceeds, $13,700,000 related to business interruption and $10,000,000 for damage or destruction of assets.
Eacom has also completed its capital project on the sawline at the Elk Lake facility. The mill has been restarted and expected to operate at full production in January 2013.
“We are continuing our capital expenditure program designed to increase productivity and capacity at our mills to reduce manufacturing costs. The rebuild of Timmins has also been designed to provide for improved productivity. Lumber markets have improved and continue to contribute to the overall performance of the Company” commented Rick Doman, President and CEO of the Company.
From EACOM Timber Corporation: eacom.ca.
Latest News
Canadian CLT Firm Coming South
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Structurlam Mass Timber Corp. is expanding its operations into the U.S. with a plant in Conway, Arkansas, set to open in mid-2021. The Canadian-based company, in which Walmart has made an…
Resolute Forest Products Purchasing Three Sawmills
Resolute Forest Products Inc. entered into an agreement to acquire Conifex Timber Inc.’s three sawmills in the U.S. South for $163 million plus working capital estimated at $7 million. The three sawmills, with combined production…
GP’s Fritz Mason Named TP Person of the Year
Timber Processing magazine has named Fritz Mason, president and general manager of Georgia-Pacific Lumber, as the 2020 Person of the Year. Mason is the 32nd annual recipient of the award, which has two primary criteria:…
No-Go On Proposed Purchase Of Canfor
Canfor Corp. has agreed with Great Pacific Capital Corp., a wholly-owned subsidiary of Great Pacific, to terminate a previously announced arrangement agreement that called for Great Pacific, which already owns 51% of Canfor, to purchase…
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.