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PRESS RELEASE
For immediate release: May 25, 2007
Tolko slows construction of I-joist facility
Company extends project completion in Sturgeon County
Vernon B.C. - Tolko Industries is slowing construction of its I-joist plant in Sturgeon County, Alberta. The company anticipates completing the plant in late 2008.
Continuing poor market conditions called for a review of the project's timeline, explained Brad Thorlakson, President, Tolko Marketing and Sales Ltd. The plant was initially scheduled to be completed late 2007.
"The outlook is for continuing low U.S. housing starts, a strengthening Canadian dollar, and rising transportation costs," said Thorlakson. "After considering these factors and our customers' current needs, we felt this was the most practical decision."
Major components, including building erection and equipment installation, will be completed when there is clear indication of sustainable markets.
"Tolko remains committed to this project and the Sturgeon site," said Thorlakson.
This decision does not affect construction of Tolko's Athabasca Division in Slave Lake, Alberta.
Tolko Industries Ltd. is a private, Canadian-owned forest products company based in Vernon, British Columbia. Tolko is a major producer and marketer of lumber, veneer, plywood, oriented strand board, and kraft papers, with manufacturing operations across Western Canada. The Company's Woodlands operations have received third-party certification of their sustainable forest management systems.
For further information, please contact:
Sheri Greeno
Communications Advisor
Tolko Industries Ltd.
P: 250-549-5341 |
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