Page 15 - Wright Bloomberg News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Southern loggers are pushing wood production to a 13-year high. So why is the price of lumber up 288%? Fortune 2 hrs ago © Ty Wright/Bloomberg Getty Images Absorbent lumber prices mean money, in a sense, does grow on trees. It s why loggers are racing to cut down more Southern yellow pines a plentiful pine that dots the Deep South. On Tuesday, British Columbia-based lumber giant Canfor announced its plan to invest $160 million to build its first-ever sawmill in Louisiana. That comes after British Columbia-based West Fraser Timber announced in May it ll spend $150 million to expand five sawmills in the South. Interfor, a British Columbia-based lumber producer, also plans its own sawmill expansion in Georgia.

United statesUnited kingdomDustin jalbertWright bloombergRandy goodmanMickey groupBritish columbia basedBritish columbia based west fraser timberGreat recessionChip setzerHome depotBritish columbiaWest fraser timberNorth americanSherwood lumberGulf coast