Wood Business

Industry News Markets
New markets good for Maritime producers

June 8, 2013 – A Halifax consultant says the decline in the U.S. economy proved that the region’s wood products manufacturers were vulnerable to major disruptions in the housing market in the U.S.

Peter Milley, with Halifax Global Inc., told the region’s lumber manufacturers to seek export markets outside the U.S.

He showed statistics indicating that between 2008 and 2011, there were 14.2 million foreclosures in the U.S. An average of 200,000 homes are being foreclosed on per month.

“There is a significant inventory of homes in the United States,’’ Milley said. “I want to stress this will continue. People are building smaller homes.’’

For the full article visit, www.theguardian.pe.ca.