Global Conference urges forestry firms to capitalize on the surging lumber markets
Rubber and Wood | 2013-05-14 07:39:41
Global leader in advisory services-PwC has urged the forestry firms to adapt themselves quickly in order to reap the benefits of the lumber market boom
By Paul Ploumis
VANCOUVER (Scrap Monster) : Global leader in advisory services-PwC has urged the forestry firms to adapt themselves quickly in order to reap the benefits of the lumber market boom.
According to Michael Vermette-Vice President of PwC, the forestry firms who are focused and willing to adapt quickly will survive to take advantage of the reviving lumber industry. Those who fail may miss out this huge opportunity. He was speaking at the 26th Annual Global Forest and Paper Industry Conference held on May 9th.
The 26th Annual Global Forest & Paper Industry Conference on May 9, 2013, brought together more than 400 CEOs, senior executives, and PwC leaders to discuss how companies are capitalizing on brand new business opportunities and adjusting their business strategy to deal with a tumultuous economic climate.
PwC’s Conference was part of the week-long Global Forest Products Leadership Summit 2013, a five-day series of events and conferences focused on the global pulp, paper, wood products and fibre-based packaging industries. Organizations participated in Summit 2013 include The Pulp and Paper Products Council (PPPC), International WOOD Markets Group and PwC.
The rising lumber prices are a result of more homes being built in the US. The forest company based in Vancouver-Interfor reported huge jump in profits during the previous quarter. The net income of the company soared to $17.8 million this quarter from the net profit of $3.5 million reported last quarter 2012.
Vermette stated that lumber firms must devise cost-effective ways to ship their products to neighboring US and export goods to Asian countries where demand for lumber is at its peak.
