RE:RE:RE:RE:RE:RE:RE:RE:D-day is Nov 26, why it is collapsing now? Tolko closed because it has no access to wood (no licence) and has to buy it all and they have to transport the wood long distances.
False !
Kelowna facility was a plywood operation. Plenty of wood left up Bear Creek accross the lake. , more up over Hwy 33 and Aberdene area. The wood formerly destined to the Kelowna Opp is now being forwarded to the Armstrong and White Valley plants. Less men to pay because oof automating other mills.
Second reason if the Kelowna facility is permnantly closed is the property sale Value. Situated a few blocks from down town Kelowna and the Grand Hotel. It sits on Ellis St. Water Front and is worth Millions on the market.
The only reason it was not closed earlier.. Was because the approval for purchase from Riverside Forest Products required it remain in operation for a given number of years
TOLKO's corporate name is derived from taking every second letter from the family name " Thorlakson" Three brothers Doug, John and Allan inherited the company from their father Harold. I have for years known the brother Doug on a first name basis.
Allan's son Brad , now heads the company. a( I believe with his fathers periodic Guidance)