NB - J.D. Irving Gets $19.5M In Loans To Make 2 Mills Eco-Friendlier

The provincial government is providing almost $20 million in loans to J.D. Irving Ltd. to help the company make two of its sawmills more energy efficient

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J.D. Irving Gets $19.5M In Loans To Make 2 Mills Eco-Friendlier

By HEATHER MCLAUGHLIN
Published Saturday November 1st, 2008

The provincial government is providing almost $20 million in loans to J.D. Irving Ltd. to help the company make two of its sawmills more energy efficient.

The Grand Lake Timber sawmill in Chipman will receive a $15-million loan, while a $4.5-million term loan will be made to the Deersdale sawmill near Florenceville.

Both loans are intended to help the company install a new biomass boiler at each site.

Jim Irving, president of J.D. Irving Ltd., said the investment will be good for the environment and good for business.

"It will reduce the consumption of heavy fuel oil by 11 million litres per year and will remove 36,000 tonnes of carbon dioxide from the environment," Irving stated.

"We appreciate the vote of confidence the province has placed in the more than 250 skilled employees who work at our sawmills in Chipman and Deersdale and the 400 woodlands employees who provide a sustainable wood supply to these mills."

The announcement was made Friday at a news conference in Chipman.

"There are opportunities for future growth in our forestry sector, but to take advantage of that growth, we must ensure that our companies are in a position to maximize their potential," said Business New Brunswick Minister Greg Byrne.

"Our government recognizes how important it is for companies to improve their operations and we want to support them as they invest in upgrades and efficiencies to increase their competitive edge in the world market.

He said the investments will help the province in its goal of self-sufficiency by 2026.

The boilers will be used to dry wood products prior to shipment to various customers, and also reduce production costs.

Grand Lake Timber employs up to 175 people in its mill and 300 people in its woodlands division in the Chipman area.

The Deersdale sawmill employs up to 88 people and more than 100 people in its woodlands operations.

Byrne said the province's forest products industry needs to become more energy efficient and productive.

The government has been assisting several companies in the forestry sector, including Flakeboard, AV Cell, AV Nackawic, Groupe Savoie and Fraser Papers.

Additional Information

Web Site: http://dailygleaner.canadaeast.com/front/article/467306

Category: Forestry>Biomass Energy

Region: NB, Canada

Ad Running: 11/3/2008-11/3/2010

Ad Posted: 11/3/2008 12:47:26 PM

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