Challenging market conditions have prompted Tolko Industries to indefinitely close its lumber unit in High Lev…
Challenging market conditions have prompted Tolko Industries to indefinitely close its lumber unit in High Level, AB, Reuters reported.
The company confirms its current log inventory will allow it’s sawmill to operate into mid-December, and will keep its planer up and running until mid-January. The closure will slash 385 million board feet from the market.
“While significant operational improvements have been made in a number of areas and the efforts of our employees and contractors are recognized, the reality is that we continue to be in the worst market conditions our industry has ever seen,” Mike Harkies, vice president and general manager, solid wood and kraft paper, said.
The unit will only restart in the instance the economy improves.
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