Times have been tough for the forestry industry lately, but there are signs things may be turning around — especially in this region.
After experiencing what it described as “the most difficult year in the lumber business in more than 50 years” in 2009, Interfor is now crediting the resumption of operations at its Castlegar sawmill for the modest profit it posted in the third quarter of 2010.
The publicly traded forestry company reported $1.5 million in third-quarter earnings on Thursday, which president and CEO Duncan Davies said was largely related to activity at the Castlegar mill.
“Positive results from the start-up of our Castlegar sawmill and higher sales to China helped to offset the impact of lower prices in North America during the quarter,” Davies said in a statement.
“The results from Castlegar were particularly encouraging,” he added, “and are similar to those achieved at Grand Forks last year.”