Wood Business

Industry News News Sawmilling
GreenFirst announces profitable first full operating quarter


March 24, 2022
By CFI staff

Topics

GreenFirst Forest Products’ first full quarter operating its newly acquired forest products facilities led to an adjusted EBITDA of $18.4 million and net earnings of $8 million, the company reported.

According to GreenFirst’s 2021 Q4 report, the company made significant strides in reducing reliance on transitional services arrangement with key hires in human resources, IT and accounting.

“We reached profitability in Q4 and have successfully integrated the acquired operating mills. As cash flow permits, we intend to make strategic capital investments with the goal to reduce the cost of production and increase our production capacity” said Rick Doman, CEO of GreenFirst. “We are also committed to being an employer of choice and for each of our mills to be an integral part of their community.”

Read the company’s full 2021 Q4 report here.

Advertisement