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Your Classified Connection / Vol. 23 No. 28 Friday, July 13, 2012
Market News
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Beach clean-up Volunteers do their part to remove debris. Plus South Shuswap A8,9 Sports A16,21
wows the audience during a cameo performance with the Stevens family Band at Pioneer Day held Sunday at R. J. Haney Heritage Village.
Chase
A22 Lightning strike Fire in Chase doused by helicopter. Plus Aliens land A24 What’s On A25
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JAMES MURRAY/MARKET NEWS
Federated sale will retain jobs By Martha Wickett MARKET NEWS STAFF
It isn’t bringing the sawmill back, but it will keep more than 300 jobs. Federated Co-operatives Limited has officially announced it has entered into an agreement to sell its Forest Products Division assets and operations at Canoe to Gorman Bros. Lumber Ltd. of Westbank.
The advantages, according to those involved are: Federated Co-operatives Limited gets to divest itself of its forest products company, Gorman Bros. Lumber Ltd. can enhance its wood supply, and the more than 300 people employed by Federated’s Canoe operation get to keep their jobs and their wages. It will likely be another two months at least before
the transaction is finalized. “It’s an excellent opportunity for both Gorman and Federated Cooperatives,” said Darrell Embley, Federated’s vice-president of forest products, noting that Federated has wanted a buyer who would keep the operation running. “They (Gorman) are great for the community, they’re not in the business of shutting operations down. We’re
very, very pleased...” Embley said Federated has been a good employer over time, but the federation doesn’t need to own a forest products company in order to supply forest products to its membership. “It’s probably time to have this operation in the hands of a forest company who understands the business moving forward.” Rick Scott, chief financial
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officer with Gorman Bros. Lumber, said Federated’s “fibre basket” or selection of timber, as well as its location, matches well with Gorman’s operations in the Okanagan and Revelstoke. Gorman has lumber operations in Westbank and Revelstoke, as well as a pole division in Lumby. It also has a reloading site in OroSee Completion on page 2
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