Who owns ainsworth lumber

When the forest products industry was at its height, such domestic giants as Abitibi-Price Inc. They were global powerhouses that shipped those products around the world. That era has ended like the thud of a metre-tall black spruce tree crashing to the ground, as laid-off workers from Campbell River, B. As recently as September, , , Canadians earned a living from logging, paper making and wood products manufacturing.

A decade later, the industry employed just , people. Last year it was 1 per cent. The biggest decline has been in pulp and paper, where the culprit is obvious — the Internet.

As consumers shunned traditional printed newspapers, magazines and telephone directories in favour of websites and mobile apps, print advertising revenues plunged and publishers shrank their publications or stopped printing altogether. There were 50 paper mills in Canada in and now there are 30, according to data compiled by Finland-based consulting firm Poyry PLC. The drumbeat of closings in the pulp and paper sector continued Friday as Resolute announced that it will shut a mill in Iroquois Falls, Ont.

But both the lumber side of the business and pulp and paper have been battered by a series of blows:. While lumber has rebounded somewhat with the recovery in the U.

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By Tyler Orton December 8, , am. Toronto-based Norbord Lumber announced December 8 it had signed a definitive agreement to acquire all of Vancouver-based Ainsworth Lumber's outstanding common shares Photo: Shutterstock. As of press time, Ainsworth stock jumped 9. Board members of both companies not affiliated with Brookfield have already approved the deal.