There are indications tonight that the region's forest industry may be turning around.
The Buchanan Group, which at one time operated nine mills in the Northwest, is getting ready to restart a full third of those facilities. Buchanan lawyer Yves Fricot said the restarts should commence next month.
Fricot said plans are to restart three operations towards the end of May.
Mackenzie Forest products in Hudson and Long Lake forest products in Longlac, will bring about 80 jobs each. Terrace Bay Pulp will mean 300 people back to work as the mill goes into a 24/7operaton within a few weeks of start-up.
Fricot said final timelines may still be affected by creditor and financing issues. Terrace Bay Pulp is under creditor protection until the end of April. As for market conditions, Fricot said the biggest factor is the Amercian housing market which is bouncing back from a drop to 25 per cent of what is was just a few years ago. The high Canadian dollar is just a part of the new reality of doing business Fricot said.
As for the other Buchanan Group facilities in Northwestern Ontario, Fricot said it's too early for specific announcements but not early to say good things may be on the horizon .
Fricot added wood tenure is another issue that will have to solved to satisfy investor concerns. The province is currently evaluating proposals for about 11million cubic meters of wood.
