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Canadian foresters warned to expect more "blood"

09/05/08 @ 08:04:15 am, by Admin

Categories: Financial News

Craig Campbell, a forest industry advisor at PricewaterhouseCoopers, has said that the forest industry will likely not see a lumber market recovery until at least 2010, and financial returns for firms based in western Canada will hit record lows this year.

Campbell says that the North American lumber market is still oversupplied. Because of this, he said, "there's going to be more (closures), more cash burn, more blood on the floor."

Read more: Canadian foresters warned to expect more "blood" (Reuters Canada)

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