DEMAND STRONG FOR ACADIAN
Acadian Timber Corp. has reported net sales of C$11.7 million for the second quarter of 2011.
"The market for hardwood and softwood sawlogs and pulpwood was relatively strong during the second quarter with demand and pricing for hardwood pulpwood being particularly strong", said Reid Carter, Chief Executive Officer of Acadian. "Regional operating levels continued to be positive with most sawmills operating and many on two shifts and all of Acadian's pulp and paper customers operating at close to full production during the second quarter."
The second quarter net sales were generated on sales volume of 243 thousand m3, which represents a $0.4 million, or 3%, decrease in net sales compared to the same period in 2010.
For the six months ended June 25, 2011, Acadian generated net sales of $33.5 million on sales volume of 669 thousand m3 as compared to net sales of $32.6 million on sales volume of 671 thousand m3 in the comparable period of 2010.
In other news, J-WesCo, a subsidiary of Sumitomo Warehouse in Japan, will buy Weyerhaeuser’s Westwood Shipping Lines in a $53 million deal that's expected to close next month.
Westwood has been on the market since 2009 and operates seven ships on routes between North America and Japan, Korea and China. The ships move newsprint, lumber, pulp and agricultural products to Asia, and often return with motorcycles, tires and parts for the automotive, boat engine and aircraft businesses. Reuters reported Westwood’s revenue at $246 million for 2010.
|
