Canfor green lights $120 million sawmill in Georgia
The Board of Directors of Canfor Corporation, the Vancouver, British Columbia-based softwood lumber producer, has approved the construction of a new, state-of-the-art sawmill in Washington, Ga.
The new sawmill, which will cost approximately $120 million, have a production capacity of 275 million board feet and employ best-in-class mill technology, the company said.
Canfor also said that the mill will be strategically located near the company’s existing glulam facility in Washington while larger population centers in Athens and Augusta will allow the new mill to draw on a strong and skilled employee base.
Construction will commence in the second quarter of 2018, with the official start-up projected for the third quarter of 2019. At full run rates, assuming 2017 market pricing, the sawmill is forecast to generate annual EBITDA of approximately $35 million, according to Canfor.
“This new mill supports our growth strategy and will provide strong economic returns over the cycle,” said Canfor President and CEO Don Kayne. “We are pleased to expand our presence in the community of Washington and look forward to providing additional high value products to our global customers”.
Canfor maintains interests in British Columbia and Alberta, Canada along with facilities in North Carolina, South Carolina, Alabama, Georgia, Mississippi, and Arkansas. Canfor also owns a 54.8% interest in Canfor Pulp Products Inc.
HBSDealer Stock Watch: Bounce-back Thursday
Following a two-day slide, industry stocks rallied on Thursday, with winners getting the upper hand on the HBSDealer Stock Watch. EXP gained 1.79% while LOW was up 1.63%. On the negative side of the ledger, BXC fell 5.06% and TREX was down 4.95%.
Eye on Retail: Batteries Plus Bulbs ramps up expansion
Batteries Plus Bulbs is expanding its footprint.
The company opened 26 stores in 2017, with three corporate locations and 23 franchise-owned. It plans to open 47 stores in 2018, including 14 corporate locations and 33 franchise locations.
Batteries Plus Bulbs niche postitioning, investment in category expansion and emphasis on franchising has proved increasingly successful, with sales growth of 22.5% during the last three years. Same-store sales rose 3.7% in 2017.
The company has become the top phone repair franchise in terms of number of retail locations nationwide, serving the $3.9 billion repair industry. A significant category investment from 2016 to 2017 resulted in a 42% increase in total sales growth in phone repair. The light bulb replacement category grew 4.8%.
Also, the company's expansion of its We Fix It repair business has helped drive additional sales growth at the store level with its network of more than 700 stores performing nearly 650 different types of phone repairs in 2017.
Batteries Plus Bulbs is owned by Freeman Spogli, a private equity firm based in Los Angeles and New York City.