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November 9, 2020
Canadian lumber companies make record profits; optimistic outlook for 2021
Canadian lumber companies that pulled in record earnings are optimistic about next year despite lower wood prices, as they see the wave of home building and renovations continuing. Norbord Inc., North America’s biggest producer of oriented strand board (OSB), reported record third-quarter revenue while Resolute Forest Products Inc.’s wood segment saw record-high income, boosted by soaring lumber prices and strong demand from home building and do-it-yourself renovations amid the Covid-19 pandemic. The long-term growth prospects Norbord sees for the wood-chip panels ...
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