Jump to content

Louisiana Pacific is closing its plant in.....


Mid Range
 Share

Recommended Posts

More bad news for The lumber industry.That village will be hunger to see sledders this winter with their cash.

http://www.newswire.ca/en/releases/archive...7/18/c5426.html

NASHVILLE, TENN., October 18 /CNW/ - Louisiana-Pacific Corporation (NYSE:

LPX) on behalf of its Canadian operations, Louisiana-Pacific Canada, Ltd. (LP)

announced today it will permanently shut down operations at its

St-Michel-des-Saints, Quebec, oriented strand board (OSB) mill. Production at

the mill has been curtailed since August, 2006.

Jeff Wagner, executive vice-president of OSB said, "Permanent closure of

the mill was a very difficult economic decision because of the impact on our

employees and the community. We regret having to take this step at St-Michel.

Unfortunately, a number of factors have combined to put the mill in a poor

competitive position for the foreseeable future, making this decision

unavoidable."

The closure of this operation and the probable cancellation of the

related forest license will require a non-cash charge against LP's

third-quarter earnings of approximately $47 million.

Consistent with its practice of not selling OSB mills, LP will not sell

the St-Michel-des-Saints OSB mill. However, LP is selling the adjacent

St-Michel-des-Saints sawmill, which has also been curtailed since 2006.

LP has owned the St-Michel-des-Saints OSB mill since 1999, when it was

acquired as part of the purchase of Le Groupe Forex. The mill, which when in

production employs approximately 200 people, was constructed in 1989 and has a

production capacity of 500 million square feet annually.

LP is a premier supplier of building products, delivering innovative,

high-quality commodity and specialty products to its retail, wholesale,

homebuilding and industrial customers. Visit LP's Web site at www.lpcorp.com

for additional information on the company.

I should add that LP owns 2 more mills in Québec.One in my hometown and one in Chambord,Lac St-Jean.You Guys must know that mill since the trail used to cross the plant.Talking about bad news,I heard on the news that Maniwaki Plant will shut down next week for an indeterminate time.

Link to comment
Share on other sites

This is very bad news. I feel for the locals that depended on those facilities for their incomes directly or indirectly. Quebec has been hit especially hard since the DNR reduced their provincial annual allowable cut (AAC) two years ago. The forest industry in Canada and perhaps all of North America is the worst it has been in history. In just the past 90 days in the maritimes (Nova Scotia, New Brunswick, & PEI) there have been at least 15 mills close completely or temporarly because of markets and the exchange. It would be scary to know how many jobs have been lost in the forest industry in the last two years.

Link to comment
Share on other sites

I tell you....cant pick up a paper or turn on the tv it seems....here or Canada without something closing......Are the Chinese really building everything in the world right now...?...

Yes and they don't care a bit about the environment... =@=@=@

Link to comment
Share on other sites

I think they have two plants up there...the actual mill in the north end of town and a huge warehouse further south..been inside both for a tour years ago...quite amazing how much lumber gets processed. Its a shame... definetly going to hurt the local ecomony in that area. Seems the lumber industry throughout Quebec has been taking it on the chin.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...