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
Lumber Prices On The Up As U.S. Home Sales Rise
It’s not just a buoyant day for equities (China excluded) on Tuesday. Yes, lumber prices are on the up, too. News of a rise in new home sales in the US last month has helped…
Maley & Wertz Acquires Kirkham Hardwoods Inc.
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Maley & Wertz Inc., an Evansville-based firm that acquires and sustains North American hardwoods, has acquired Kirkham Hardwoods Inc. According to a news release, the merger will better position the combined…
Some Hardwood Sawmills Struggle To Stay In The Black
Hardwood lumber sales remained relatively slow, as a combination of lackluster overseas demand and the easy availability of lumber kept many buyers on the sidelines. Many mills tell us that the high prices they paid…
Lumber Supplier Canfor Loans $30 Million To Conifex
Canfor and Conifex say an investment agreement between the two lumber producers for $30 million has been completed. The loan by Canfor to Conifex Inc., a wholly-owned subsidiary of Conifex Timber is for five years,…
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.