INTERNATIONAL FOREST PRODUCTS LIMITED (“Interfor” or the “Company”) (TSX:IFP.A) along with its partners Michael Green Architecture Inc (MGA) and Blackfish Homes and Construction Ltd., unveiled its contribution to Canfor’s Playhouse Challenge with an innovative playhouse designed and constructed by local experts and made with high quality and sustainable wood products from BC. Seven teams from around the province are competing in Canfor’s Playhouse Challenge to build original and fun playhouses from wood. Each playhouse is a collaborative project between a forest company, an architectural firm and a local builder. The playhouses will be on display at the 2012 Fair at the PNE in Vancouver (Aug. 18 – Sept. 3) and were sold to corporate sponsors who will donate them to public venues across the province. The Interfor playhouse was sponsored by Arrow Transportation Systems Inc. and KPMG. Proceeds from the sale will go to Habitat for Humanity Canada affiliates across BC. Click here to read the full article.
New president puts 11 quarters of profit down to teamwork
If there’s any correlation between Western Forest Products’ 11 consecutive fiscal quarters of positive earnings data and the hiring of Don Demens, you’re not going to hear it from him. Western’s new president, a 27-year veteran of the coastal forest industry, is more likely to spread any praise or responsibility among the 3,300 Western employees and contractors. Reminded of the fact Western chairman and CEO Dominic Gammiero recently singled out Demens as being instrumental in Western’s turnaround and in changing the company’s culture, Demens brushed off the compliment with a laugh, saying only that he was “excited about playing a part in building the company. Click here to read the full article.
Upcoming changes to the Fisheries Act (the Act) had been the subject of considerable speculation until Bill C-38, the Harper government’s 2012 Omnibus Budget Bill, was tabled earlier this year. The debate in the media which both pre-dated and followed that in Parliament resembled an odd and rather one-sided story of doom that was about to be unleashed on Canadians. There are many folktales of paranoia and mass hysteria. Chicken Little is one such example. Readers will recall that Chicken Little, after being hit in the head with an acorn, spread a rumor that the sky was falling, and the end result was a tale of mass hysteria leading to the deaths of Chicken Little and those who had believed her. Click here to the read the full article.
Following the decision earlier this year to integrate the management of Canfor Corporation and the Company in order to maximize efficiency and cost synergies, Company President and CEO Joe Nemeth has elected to step down from his role effective September 30, 2012. He has graciously offered to support the transition through that date. Following Joe’s decision, the Board of Directors of the Company appointed Canfor President and CEO Don Kayne to the role of CEO; a role he will serve for both companies. Brett Robinson, formerly Executive Vice President, Operations, will assume the President function for the Company. Click here to read the full article.
INTERNATIONAL FOREST PRODUCTS LIMITED (“Interfor” or the “Company”) (TSX: IFP.A) reported net earnings of $0.3 million or $0.01 per share in the second quarter of 2012. Excluding restructuring costs and other one-time items, the Company’s net earnings in the second quarter were $0.9 million or $0.02 per share compared with a net loss of $5.2 million or $0.09 per share in the first quarter of 2012 and a net loss of $3.2 million or $0.06 per share in the second quarter of 2011. Key factors impacting the Company’s results in the current quarter were higher lumber sales volumes and
prices which increased 13% and 7% respectively versus the immediately preceding quarter. Click here to read the full article.
The purpose of this letter is to inform you that amendments to the Pulp and Paper Effluent Regulations (PPER) came into force on June 29, 2012. The Regulations Amending the Pulp and Paper Effluent Regulations (SOR/2012-140) were published in Part II of the Canada Gazette on July 18, 2012. A copy of the Canada Gazette notice is enclosed. Click here to read the full letter.
President & CEO, Coast Forest Products Association
On behalf of Coast Forest Products Association, I would like to congratulate Don Demens for his recent appointment as President of Western Forest Products Inc. I have had the great pleasure of working alongside Don and have seen first-hand, the excellent results that his wisdom, vision and leadership has brought to Western as well as the entire coast forest industry. Over the years, Coast Forest and Western have forged a close partnership which has yielded many successes. Western has made an excellent choice in Don and I look forward to pursuing future initiatives with him as he charts its future direction.
The Board of Directors of Western Forest Products Inc. (TSX: WEF) (“Western” or “the Company”) today announced the appointment of Don Demens as President of the Company, effective immediately. Originally hired in 2009, Mr. Demens was later appointed Sr. Vice President, Sales and Manufacturing and in 2011 assumed the role of Chief Operating Officer. Mr. Demens has over 25 years of coastal forest industry experience including time spent in Japan. “Don has been instrumental in the turnaround of Western. Under his leadership we have seen a change in business culture with a strong focus on margin. As a result, the Board has full confidence in appointing Don as President of Western. This appointment positions Western with a strong succession framework to build the future of the company” said Dominic Gammiero, Chairman and CEO. Click here to read the full news release.
Operationally the second quarter was executed well. Sales volumes, production, and productivity all improved. Despite weather impacts, we maximized margin available by expediting the delivery of logs to our sawmills, producing the mix of lumber products demanded by our customers. Prices in the export log, pulp log, and sawmill by-product markets were significantly lower than last year and demand from Japan was slightly weaker. Despite these challenges, our focus on margin delivered our eleventh straight quarter of positive EBITDA. Click here to read the full letter.