{"id":74984,"date":"2017-12-07T10:01:02","date_gmt":"2017-12-07T10:01:02","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/canfor-might-build-large-sawmill-us-southeast\/"},"modified":"2025-09-19T08:47:14","modified_gmt":"2025-09-19T08:47:14","slug":"canfor-might-build-large-sawmill-us-southeast","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/canfor-might-build-large-sawmill-us-southeast\/","title":{"rendered":"Canfor might build a large sawmill in the US Southeast"},"content":{"rendered":"

Canfor is evaluating a 250 mmbf greenfield sawmill in the US Southeast region and also announced a new organic capital program of 350 mmbf. Together, the projects would increase Canfor\u2019s US Southern yellow pine capacity by 600 mmbf or about 40%.<\/em><\/p>\n

Canfor Corp. CEO Donald Kayne and other executives of the company discussed with investors on the 23rd of October,\u00a0during the company\u2019s Q3 earnings call.<\/p>\n

Kayne said the company will decide on the greenfield sawmill at the end of January. Although it\u2019s too soon to give specifics, the mill would be located in the US Southeast, would likely cost about US$100 million and could be operational in early 2019, he said.<\/p>\n

The capital program and potential greenfield project are a shift from M&A because many of the M&A opportunities \u201care pretty expensive<\/em>,\u201d Kayne said. \u201cSo we're really focused hard on trying to maximize the production out of our own facilities<\/em>.\u201d<\/p>\n

Cost increases on the M&A side made both greenfield and organic capital investments more attractive. An evaluation of its operations found three or four mills, as well as some facilities on the finishing end and the kiln side, that present \u201csignificant opportunity \u2026 to spend additional dollars,<\/em>\u201d he said.<\/p>\n

\u201cSo if we had to rank them now, it's probably organic, greenfield and then M&A probably a close third<\/em>,\u201d Kayne said.<\/p>\n

The following is excerpted from the transcript of the call:<\/p>\n

\u201cFinally, we have announced a new organic capital program of 350 million board feet and are currently evaluating a greenfield construction project. Combined, these projects would increase our U.S. Southern Yellow Pine capacity by 600 million board feet or approximately 40%. We strongly believe in the long-term, positive fundamentals for fiber, people and markets in the U.S. South region and are excited about expanding our capacity there further.\u201d<\/em><\/p>\n

\u201cYes, for sure, it's something we've been working on for some time because we recognize there's been -- there's some opportunities there in the South to increase some of the spending on -- in terms of organic capital. But it really comes down to our allocation process, Paul. And we -- as you know, we've kept an eye on debt here significantly for the last several years, trying to get our balance sheet in good shape, which we think it is today. And that's presented through -- for a bunch of reasons, mostly due to -- where some of the other M&A activity that's out there, we think some of the opportunities of -- are pretty expensive. So we're really focused hard on trying to maximize the production out of our own facilities. As we've done an evaluation, so there's probably 3 or 4 mills that we think there's significant opportunity in the sawmill and in some cases in the finishing end, and also on the kiln side to spend additional dollars. So we've -- that's really how we're focused on that. And then, also eventually here, as we've mentioned in the press release talking about potentially for a greenfield project, which we'll be evaluating now and making a decision on at the end of January. But it really comes down to really looking hard at our priorities now that we have our balance sheet in good shape. And fortunately, this allows us to really take an increased look there at organic, which we think is probably one of the best opportunity that we have.\"<\/em><\/p><\/blockquote>\n

\u201cYes, for the most part. I mean, it's clearly -- they're still on the radar screen, Paul, on M&A because there's the odd opportunity out there. But frankly, we believe that between organic and then certainly with the cost increases on the M&A side, potentially, it's made the greenfield more attractive. So that's why we're putting a lot more effort into evaluating the greenfield side as well. So if we had to rank them now, it's probably organic, greenfield and then M&A probably a close third.\u201d<\/em><\/p>\n

\u201cYes, well, I think, overall, as is Southeast to be general because we haven't landed on a specific state yet or a city or anything like that at this point. But clearly, as we always have, and it goes for pretty much everything we do, we look at 2 things: number one is fiber, quality of the fiber and availability of the fiber and the competitiveness of the fiber on a long-term basis; and then also the other area is people, right? Those would be the 2 key factors. Leaving aside that we -- terms of distances to Tidewater because we think there -- down the road here, there's going to be more and more opportunities for export would be critical. Those have -- those are probably be the 3 -- probably the 3 key areas that we would -- assuming that we're in an area, which is Southeast is anyways, a very positive for lumber-consumption period. So I mean we're -- so we're not obviously concerned about customer base or any of those sorts of those things. But they are 3 things, fiber, people and access to Tidewater will be critical. Those 3.\u201d<\/em><\/p><\/blockquote>\n

\u201cSo we're not -- we haven't announced anything around the capital spend yet. I mean, I guess a good guidance might be, though, the GP mill that you heard recently announced, and I think that was around $100 million, that's probably in the hunt, Hamir. And then in terms of timing, we expect to make a decision some time in Q1. And then if you -- assuming that's done in the end of Q1, it's probably 12 months after that we would expect that to be operational.\u201d<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Canfor is evaluating a 250 mmbf greenfield sawmill in the US Southeast region and also announced a new organic capital program of 350 mmbf. Together, the projects would increase Canfor\u2019s US Southern yellow pine capacity by 600 mmbf or about … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":57962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4713],"tags":[3289,3383,3252],"class_list":["post-74984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-in-the-timber-industry","tag-canfor","tag-sawmill","tag-us","topic-sawmilling","area-north-america"],"acf":[],"yoast_head":"\nCanfor might build a large sawmill in the US Southeast<\/title>\n<meta name=\"description\" content=\"Canfor is evaluating a 250 mmbf greenfield sawmill in the US Southeast region and also announced a new organic capital program of 350 mmbf.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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