Feed aggregator
Investors should be hesitant to dive into stocks after the rate cut, with election uncertainty looming, Fundstrat's Tom Lee says
Categories: Forest Products Industry
Trump Media stock drops as lockup expiration set to give the former president clearance to sell shares
Categories: Forest Products Industry
German bridge of concrete and wood composites
As part of the safety expansion of the expressway between St Veit South and North in Germany, new bridges had to be built. One of these is a combination of wood and concrete composites. Source: Timberbiz The Hasslacher group, together with Asfinag, is developing an innovative solution for the Klagenfurt expressway. One of these bridges will be a wood-concrete composite bridge. The wooden component is 21 m long, 1 m thick and has a width of almost 4 m. The width is made of 15 individual glued laminated timber elements, a so-called composite component according to EN 14080. It contains a total volume of 82m³ of glued laminated timber and stores about 70 tons of CO2. In order to be able to monitor the wood moisture, a network of sensors was woven across the entire timber structure, the data of which can be read out online at any time via a monitoring system. The Hasslacher group specializes in special glued laminated timber components. Elements up to 52 m long and weighing up to 60 tons have already been produced. The Hasslacher group is an innovation leader in the field of intelligent and integrated system solutions for modern timber construction.
Categories: Forest Products Industry
Sweden working to keeping its A listing in biomass
The Norwegian Forestry Agency is putting forward a series of proposals for biomass from the forest to meet the EU’s new renewable requirements. Source: Timberbiz “Our proposals can contribute to Sweden continuing to be classified as an A country in a cost-effective manner. It will require an increased effort from all actors, but we judge the change to be marginal, especially if we compare it to the gains from meeting the requirements,” said Elisabet Andersson, ecologist at the Swedish Forest Agency. The renewables directive of the European Parliament and the Council from 2018 has been tightened. Among other things, criteria have been introduced that limit the extraction of forest biomass from virgin forest and old forest. The directive aims to promote the use of energy from renewable energy sources, including biomass from, for example, branches and tops (grot) and damaged wood in connection with felling in the forest. The directive does not prohibit felling or the extraction of roots but specifies conditions for the raw material that is extracted to be classified as sustainable. The Norwegian Forestry Agency has been tasked by the government to develop a basis for how Sweden can meet the renewables directive’s sustainability criteria and continue to be classified as an A country. In a report submitted to the government, the Norwegian Forestry Agency makes several proposals for adjustments to ensure that biomass taken from the forest is deemed sustainable for the purposes of the directive, and that it can be tracked and controlled throughout the chain: The forest owner must, through an extended declaration obligation in the permit application or felling notification to the Forestry Agency, indicate whether the measure is to be carried out in virgin forest or old forest. The information provided to the Swedish Forestry Agency enables the authority to supervise and check that the declared information is correct and that the rules are followed. This is to ensure Sweden’s compliance with the Renewable Energy Directive. Information from the declaration must be made available so that those concerned have access to reliable information of importance to their business. In this way, the buyers at all levels (ultimately the energy producer) can gain access to the information required to be able to check the sustainability criteria. “If the proposals are implemented, it underlines the importance of forest owners having a good knowledge of their forest and what natural values may be present. Here, both skill enhancement and guidance will generally be needed,” Ms Andersson said. In addition to the country’s forest owners, there are estimated to be around 300 actors in Sweden who may be affected by the changes. According to the government mandate, the Norwegian Forestry Agency has also, in collaboration with the Swedish Environmental Protection Agency, proposed a national definition for old forest in the Forest Protection Act. Proposals for criteria for old forest and primeval forest have also been drawn up. The directive’s sustainability criteria also cover areas that have been found to have high biological diversity. However, it has not been part of the government’s mission to develop criteria for these. Here it is proposed that the Norwegian Forestry Agency and the Swedish Environmental Protection Agency receive a new government assignment to define what is considered a forest with high biological diversity.
Categories: Forest Products Industry
JCB engines are 20 years old
JCB’s engine business has marked its 20th birthday with a celebration to thank employees for their vital role in its continuing success. Source: Timberbiz Since 2004, JCB Power Systems in Foston, Derbyshire, UK has gone from producing three engines a day to making almost 300. It has become a world leader in the design, development and manufacture of diesel engines and is now leading the way with the pioneering development of hydrogen engines. The business initially employed 20 people but has expanded its workforce to more than 400. To mark the anniversary, employees were presented with gifts and letters thanking them for their service. In addition, 10 employees with a combined 200 years’ service, planted an oak tree in the grounds of the plant to mark the occasion. “I’m proud to have worked at JCB Power Systems since day one. Today marks 20 years of innovation, growth and dedication involving a talented team, delivering manufacturing excellence at JCB,” Robert Taylor JCB Power Systems General Manager said. JCB Power Systems’ engines have been instrumental in helping set world records – firstly when the JCB Dieselmax streamliner, powered by two JCB engines, became the fastest diesel-powered car in the world in 2006 when it reached a speed of 350.092mph on the Bonneville Salt Flats, USA – a record that still stands. In 2019, JCB’s Fastrac tractor stormed into the record books as the world’s fastest tractor with a speed of 135.191 mph thanks to JCB’s 7.2 litre, 6-cylinder Dieselmax engine. In 2010, JCB expanded production of engines to JCB India, with a dedicated facility in Ballabgarh, Delhi, where 200 engines are produced every single day. In the UK, a team of more than 150 engineers is currently engaged in developing hi-tech hydrogen combustion engines for use in JCB machinery as part of a £100 million investment. More than 120 engines have come off the production line so far and many machines powered by these super-efficient engines are currently undergoing evaluation.
Categories: Forest Products Industry
Logging stops for rare emus
Logging has been stopped by the NSW Forestry Corporation in a Clarence Valley state forest after eggs found in an endangered Coastal Emu nest hatched last week, prompting calls for a wider exclusion zone to protect the species. Source: Australian Rural & Regional News Last week the Clarence Valley Independent reported Forestry Corporation of NSW Lead Forestry Officer Kurt Holzhauser discovered nine Coastal Emu eggs in a nest during a pre-logging inspection and habitat search for threatened and endangered species in a protected area. Following the amazing discovery, to protect the nest a 100-metre buffer zone was enforced, and the Forestry Corporation of NSW worked with the Saving Our Species program team to ensure the eggs had the best chance of survival. Last Tuesday, the Forestry Corporation of NSW voluntarily ceased logging in the area as the father and the two newly hatched chicks were seen wandering in the forest. A Forestry Corporation of NSW spokesperson confirmed 10 endangered Coastal Emu eggs had been found at the site. “Once the coastal emu nest was discovered, Forestry Corporation of NSW engaged with the Saving our Species SoS program within the NSW Department of Climate Change, Energy, Environment and Water, as the experts in this space,” the spokesperson said. “When the SoS program team arrived on site they found ten eggs in this nest.” The Forestry Corporation of NSW spokesperson said the SoS team collected seven of the eggs and they were transferred to an incubator. “Three eggs were left in the nest, and the male emu returned within five minutes of the other eggs being collected,” the spokesperson said. “Two eggs hatched, and the male left the nest with chicks once they were mobile. “One egg was unviable, which is not uncommon, and has been collected for testing.” The spokesperson said SoS program team members have seen the male emu and the chicks in the state forest. “We are working closely with the NSW Department of Climate Change, Energy, Environment and Water to monitor the status of the emus,” the spokesperson said. Five eggs from the nest that remain in incubation are being monitored by SoS project team members. News of the discovery prompted NSW Greens MP Sue Higginson to call for a planned native forest logging in areas of Coastal Emu habitat to be stopped. Ms Higginson said the 100-metre exclusion zone established around the nest was not enough and a 1000 metre exclusion zone would provide a genuine buffer. She said two other Coastal Emu nests were found on private property close to the state forest, which the CV Independent has chosen not to name. The NSW Department of Climate Change, Energy, the Environment and Water state, as there are less than 50 Coastal Emus known to exist, in their only habitat between Evans Head and Red Rock, they are of significant conservation value as a species. Many plants are dependent on the emu for germination and distribution of their seeds over distances of up to 50km. No other species that lives in the incredibly biodiverse environment they inhabit in the Clarence Valley can fulfil that role. Recent decades have seen a dramatic decline in Coastal Emu numbers with some birds killed in vehicle strikes as development encroaches further into their habitat. Much of the impact occurs at the nesting stage of the emu’s life with ground-nesting exposing the adults, eggs, and chicks to a range of threats from predators, fire, machinery, and other human disturbance. With two known Coastal Emu chicks and potentially several more to hatch, Clarence Valley residents are asked to slow down on roads around known Emu habitat areas and remain vigilant for any wandering chicks or adults near roads. “It is increasingly evident that an increase in home building activity, expected towards the end of this year and into early next year, will be driven by those markets outside of Sydney and Melbourne,” he said.
Categories: Forest Products Industry
New homes sales fall nationally except for Queensland
New home sales nationally fell by 1.3% in the month of August which leaves sales in the three months to August 2024 higher by 4.6% compared with the previous year. Source: Timberbiz The HIA New Home Sales report is a monthly survey of the largest volume home builders in the five largest states and is a leading indicator of future detached home construction. “Increasing activity in other states, particularly in Queensland, are counteracting weak new home sales in the two largest markets of NSW and Victoria,” HIA Economist Maurice Tapang said. “New home sales in Queensland increased by a further 3.8% in the month of August, after recording a strong 15.6% increase in July. “This leaves new home sales in Queensland over the three months to August 2024 higher by 53.5% compared to the same period in the previous year,” he said. Strong population growth, particularly from those moving from other states into Queensland, were supporting demand for new homes. However, sales of new homes in South Australia and Western Australia fell in August from strong levels. “It is possible that investor activity in Western Australia is slowing down as it moves through a cycle of strong house price growth and low vacancy rates,” Mr Tapang said. “In Victoria, new home sales have been very bumpy in recent months. The draw-forward of sales in April continues to affect sales in the months that followed. “New home sales in NSW remains weak as the cost of delivering a new ‘house and land’ package in Greater Sydney remains elevated by regulatory changes and land prices.” Mr Tapang said it had been more than 10 months since the last rate increase. The continued undersupply of homes and robust labour market conditions were assisting a return of consumers to the new home market. New home sales in the three-month period to August 2024 increased in Queensland by 53.5% compared to the same time in the previous year, followed by South Australia (+25.0%), New South Wales (+12.0%). Western Australia recorded a 14.2% decline over the same period, followed by Victoria (-11.3%).
Categories: Forest Products Industry
Hundreds attend timber fest in Gympie
Hundreds of industry workers and their families, whose livelihoods and businesses are supported by Queensland’s sustainable forest and timber industry, welcomed the support of local leaders at the Queensland Timber Fest in Gympie last weekend. Source: Timberbiz Timber Queensland’s CEO Mick Stephens said the family fun day at the Gympie Woodworks Museum was a good reminder for Governments that the industry is relied upon by thousands of people and their families. “Our industry supports over 25,000 jobs and injects $4 billion into the state economy every year, providing essential materials for the building and construction industry,” said Mr Stephens. “Everyone at the event welcomed the support of local leaders Tony Perrett, Member for Gympie and Glen Hartwig, Gympie Regional Council Mayor, who made it clear they recognise the value of the industry in growing regional jobs, providing materials to meet housing demand and delivering environmentally sound land management,” he said. “Going forward, a key issue facing the industry is a lack of policy certainty over access to public and private native forests for sustainable hardwood production, as well as minimal incentives and measures to promote plantation and farm forestry expansion to increase timber supply. “With the right policy settings there is significant potential for the industry to grow and prosper and deliver positive economic, social and environmental benefits for the state.” Tony Perrett, Member for Gympie and Shadow Minister for Agriculture, Fisheries and Forestry said. “The attendance of so many workers and their families is proof why the industry needs certainty to secure timber for production and guarantee a strong future for this valuable renewable and sustainable resource. “I’m committed to providing that security for our valued timber industry.” Gympie Mayor Glen Hartwig said he thinks there is a good opportunity to manage our state forests to harvest the appropriate timber but also maintain the environmental significance of the areas for generations to come. “That’s the vision I have for Gympie which will give sustainability, it’ll give long-term jobs and it’ll give certainty to those people that have invested in the industry, but most importantly it pulls carbon out of the atmosphere and puts it into homes,” said Mayor Hartwig. The Queensland Timber Fest was an opportunity to celebrate the history and collective value of the forest industry across the softwood plantation, native hardwood and native cypress sectors. More than 250 people attended, and Timber Queensland acknowledges the support of the many industry exhibitors and community partners on the day.
Categories: Forest Products Industry
Oji NZ to close recycling mill in Penrose 75 job losses
Oji Fibre Solutions (OjiFS) announced that it will close its paper recycling mill in Penrose, Auckland with around 75 staff members to lose their jobs. The company said it had no choice after suffering continuing financial losses. Source: Timberbiz It is expected that the mill will close in December this year. “This is a sad day for OjiFS and particularly our Penrose Mill employees. While this closure will impact directly on our 75 people at the mill, we will continue serving our customers with as little disruption as possible,” Chief Executive Officer Dr Jon Ryder said. “Closing Penrose Mill will not change our Fullcircle operations. We will continue to collect wastepaper and continue to recycle around 90,000 tonnes of cardboard per year at our Kinleith Mill, near Tokoroa. OjiFS will remain New Zealand’s largest paper recycler. The company said that other wastepaper would be sent to an Oji Group mill in Malaysia, who will also supply OjiFS packaging operations across Australasia with a replacement for the recycled medium currently manufactured at Penrose Mill. “I would like to emphasise that this decision to close Penrose Mill, is in no way a reflection of the calibre, dedication and skill of each and every one of our 75 staff there,” Dr Ryder said. “Penrose Mill has suffered a three-year pattern of losses, with no prospect of the situation improving. “As I’ve said before, these losses are caused by several issues, including but not limited to, dramatically rising energy costs, and freight and labour costs. We have looked at technology and other changes to save input costs. We have also considered options presented by our staff and their unions. “At the end of the day, however, there is nothing we could find that would make a difference. “We are doing all we can to support our people through this period, including matching them with positions across other parts of OjiFS, and working with other businesses to offer them the opportunity to take on high-calibre, experienced staff.”
Categories: Forest Products Industry
AFWI research advisory committee established provide expert advice
Australian Forest and Wood Innovations has announced the establishment of a Research Advisory Committee. The committee will provide expert advice to the AFWI board on forest and wood product research and innovation, ensuring that research activities are aligned with industry needs, and maximising benefits for the broader forestry and wood products sectors. Source: Timberbiz “Bringing together experts from across industry and research strengthens AFWI’s ability to ensure our work reflects real-world needs,” AFWI Chair Mr Bob Gordon said. “The committee’s insights will be invaluable as we steer our research and innovation to better serve the forestry and wood product sectors. “As we approach the announcement of the first round of funding under our National Open Call for Research, we are excited to mark the beginning of AFWI-funded projects. “These initiatives will play a crucial role in advancing innovation and sustainability within the forestry and wood products sectors.” Mr Gordon also acknowledged the role of the committee in assessing and recommending these projects. “The Research Advisory Committee has been integral to the selection process, ensuring that the projects we fund are supported by industry, deliver meaningful outcomes, and contribute to the broader goals of the sector,” he said. Chaired by Professor Rodney Keenan, the committee includes leaders from academia, industry, and government. The members of the AFWI Research Advisory Committee are: Professor Rodney Keenan (Chair), Honorary Professorial Fellow and former Chair of Forest and Ecosystem Sciences, The University of Melbourne Mr Gavin Matthew, Chief Executive Officer, Engineered Wood Products Association of Australasia (EWPAA) Ms Belinda Lengenberg, General Manager Strategic Resources, Timberlink Mr Simon Dorries, CEO, Responsible Wood Dr Shaun Suitor, Strategy Manager, Sustainable Timber Tasmania, Dr Danielle Wiseman, Research Scientist, Plantation Industry Pest Management Group Dr Craig Cowled, Lecturer Civil Engineering, Queensland University of Technology Dr Henri Baillères, General Manager Forests to Timber Products, Scion Dr Steve Read, Former Chief Coordinating Scientist, ABARES (Retired) Dr Jodi Mason, Head of Forest Research, Forest and Wood Products Australia (FWPA) Mr Peter Harding, Assistant Director, Department of Agriculture, Fisheries and Forestry (DAFF) Dr Melanie Zeppel, Manager, Natural Capital and Carbon Analytics, New Forests Dr Chris Lafferty, Research and Development Manager, Forest and Wood Products Australia (FWPA) For more information about the committee, visit: https://www.afwi.au/
Categories: Forest Products Industry
Head of R&D to retire from FWPA
FWPA’s Head of Research and Development, Dr Chris Lafferty has decided to retire at the end of June 2025, after 23 years with the organisation. Source: Timberbiz Since joining the then Forest and Wood Products Research & Development Corporation in 2002, Chris has been an invaluable team member, dedicating his significant skills and experience to advancing research and development to benefit members and key stakeholders across the entire forest and wood products value chain. This is an appropriate time for both parties to make this transition. It will provide a succession plan for FWPA that will support the organisation’s future while allowing Dr Lafferty to pursue new interests and challenges. Recruitment for his replacement will begin in the coming weeks, aimed at securing a suitable candidate by the end of 2024. The goal is to facilitate a significant overlap period between Dr Lafferty and his successor, providing ample opportunity for comprehensive onboarding, introductions to key relationships, and proactive knowledge sharing to ensure a seamless transition for the broader team. CEO, Andrew Leighton thanked Dr Lafferty for his substantial contribution to the organisation and the industry. “For more than two decades, Chris has served FWPA and our members, and we are grateful for his willingness to mentor and guide his successor, to set us up for success moving forward,” he said.
Categories: Forest Products Industry
Dongwha mill pleased with NSW Action Plan, but a few hurdles expected
Bombala based timber milling company Dongwha Australia has welcomed a NSW Government Forestry Industry Action Plan designed to outline the path the State will take to ensure a sustainable timber industry that aligns with the Government’s key environmental priorities. Source: Karen Forman, Monaro Post Dongwha Australian Team Leader Neville McInnes said although the company had not yet been contacted by the new advisory panel, it was pleased the government had committed to the industry and had three key areas it wished to discuss. They are a commitment to keeping roads open to guarantee the transport of timber between plantations and the mill; a commitment to the continued supply of softwood and a commitment to not losing what supply was already available. “We welcome the plan, absolutely,” Mr McInnes said. “We are moving along reasonably well at the moment, but we do need to look at the future and secure supply and infrastructure so that things don’t go down. We have 130 direct employees and are always looking for more workers. For everyone direct job, three come off it, that’s 450 jobs feeding off the mill, without secondary jobs, so we estimate 750 jobs come out of the Dongwha site. You take that out of Bombala and it’s not a positive picture.” Korean-owned Dongwha Australia took ownership of a small mill with 20 employees on the current Bombala site in 2011 and built a new saw milling plant which was officially opened for business in 2013. The company produces a range of softwood timber products for the Australian market. It is not involved in export. “We are lucky, better than around Tumut and Tumbarumba which lost 50,000 hectares of timber in the fires,” Mr McInnes said. “We lost 6000 hectares. To date that hasn’t affected us, but obviously after 2032 when our current agreement for guaranteed supply expires, that could change what volumes can be delivered from one supplier. “So we will be showing our interest in talking about the infrastructure issues, ways of keeping our plantations in their current format, ensuring future supply, and not losing what supply we already have got.” The Independent Forestry Panel will be chaired by Peter Duncan AM who has more than 40 years’ experience in primary industries, infrastructure and regional NSW. Professor Mary O’Kane AC and Mick Veitch will also sit on the Panel. The Panel will be tasked with consulting with a broad range of stakeholders and report to Government on the best options to achieve the balance between sustainable supplies of timber and environmental commitments. Stakeholders include representatives from the timber industry, forest growers, environment groups, unions, Aboriginal communities, local government, business, related industries, tourism, scientific experts and the Commonwealth Government. Mr McInnes said Dongwha was keen to maintain its current plantation base in Bombala, which was made up of Forest Corp NSW supplies (250,000 cubic metres per year) and private plantations within a 150km radius. “The mill capacity is 300,000 cubic metres,” he said. “We have a few challenges to address, though. This winter was a classic with rain, we had issues getting deliveries of getting access where roads were shut, and supply to the mill was stopped. The mill doesn’t stop, it keeps consuming logs, we operate 242 days a year, so while keep stock on hand, delivery is key to keeping the mill functioning. That is a roads funding issue, yes. “We are also keen to maintain our current planation base in Bombala. Currently we are losing one plantation area, as one of the privates is harvesting and selling the land, losing 8000 hectares. “The land is open to whoever wants to buy it. Obviously, we would like to see a plantation owner put it back under plantation again for the viability of the mill. If we want to get plantation timber back in the ground, it’s 25-35 years for a rotation of pine from planting to clear fell. It is a long-term crop.” Third on the Dongwha agenda will be renegotiation with corporatised government agency Forest Corp NSW to renew its agreement for supply of wood. “The contract is up for renewal in 2032, but obviously we like to put things in place,” he said. “The agreement guarantees wood supply, volumes per annum for the next 10, 15, 20 years. “Things are still positive, there is a lot of good news, we will ride through this. The best part is that we have the resource here, just some hurdles to overcome to sure up the wood supply.”
Categories: Forest Products Industry
Suze Orman Says Missing This One Crucial Monthly Payment Could Cost You Big – Here's The First Bill You Should Never Ignore
Categories: Forest Products Industry
The Fed is following its 1995 playbook — and that's great news for stocks and the economy
Categories: Forest Products Industry
Goldman Sachs’ break up with Apple could cost $500 million to $4 billion, says analyst
Categories: Forest Products Industry
Donald Trump said he would not sell his Truth Social stock. But he technically can starting Thursday.
Categories: Forest Products Industry