Resolute Forest Is Spending $50 Million to Expand Lumber Output
- Company to increase capacity at two North American sawmills
- U.S. housing booom sent lumber demand soaring this year
Raw lumber moves into the saw mill at the Resolute Forest Products facility in Thunder Bay, Canada.
Photographer: James MacDonald/Bloomberg
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Resolute Forest Products Inc. is spending $50 million to grow its lumber production after a U.S. housing boom sent demand soaring and lifted prices to record highs.
The company is expanding capacity at sawmills in Ontario and Florida, it said in a statement Thursday. The funds will also go to modernizing equipment at a facility in Quebec and improving efficiency at one in Arkansas.