Conifex buying U.S. sawmills for $258 million to add 50 per cent more capacity

Conifex buying U.S. sawmills for $258 million to add 50 per cent more capacity
VANCOUVER — Conifex Timber Inc. says it has reached an agreement with Blue Wolf Capital Partners to buy sawmills in Florida and Arkansas that will increase its lumber production capacity by about 50 per cent to 1.1 billion board feet. The Vancouver-based company says it will pay about $193.1 million in cash for the Suwannee sawmill in Cross City, Fla., and Caddo... Read More

From pork to pot: Cannabis cultivation in former Winnipeg Maple Leaf meat plant

From pork to pot: Cannabis cultivation in former Winnipeg Maple Leaf meat plant
WINNIPEG — A Toronto-based pot producer is taking over the former Maple Leaf Foods meat plant in Winnipeg. GrowForce Holdings has announced it will open its flagship cannabis cultivation facility in the city’s St. Boniface Industrial Park. It says the 11,000-square-metre facility will employ 150 to 200 people once it’s fully operational next year. GrowForce CEO Rishi Gautam says the company looked at... Read More

Air Canada risks a boycott after it refers to Taiwan as being part of China

Air Canada risks a boycott after it refers to Taiwan as being part of China
MONTREAL — Air Canada could face a boycott from Taiwanese travellers after the airline joined a growing list of air carriers that have reportedly bowed to Chinese pressure by listing the capital of Taiwan as a part of China on its booking website. The Montreal-based airline started a route between Vancouver and Taipei last June. On Tuesday, its customer site listed flights to Taipei, CN, rather... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,097.81, up 12.20 points) Neovasc Inc. (TSX:NVC). Medical devices. Down half-a-cent, or 10.00 per cent, to 4.5 cents on 12.2 million shares. Element Fleet Management Corp. (TSX:EFN). Financial Services. Up 62 cents, or 12.13 per cent, to $5.73 on 11.3 million shares. Aurora Cannabis Inc. (TSX:ACB). Healthcare. Down 11 cents, or... Read More

B.C. premier receives lukewarm reception at Chamber of Commerce luncheon

B.C. premier receives lukewarm reception at Chamber of Commerce luncheon
VICTORIA — Premier John Horgan told a group of business leaders in Victoria that he can feel their pain, but his government won’t back away from ending the medical fees charged to B.C. residents. Speaking to a crowd of about 400 at a Victoria Chamber of Commerce luncheon, Horgan said they’re committed to ending the medical services premium, placing the fee... Read More

CN Rail says operations performing better than expected after tough winter

CN Rail says operations performing better than expected after tough winter
BOSTON — CN Rail says that its operations are performing better than it expected so far in the second quarter after a rough winter that led to the replacement of its chief executive. Chief financial officer Ghislain Houle told a transportation conference on Tuesday that volumes are up 14 per cent in the first two weeks of May after falling four per... Read More

Kellogg’s latest US brand to close door on Venezuela

Kellogg’s latest US brand to close door on Venezuela
CARACAS, Venezuela — The Kellogg Company says it’s closing operations in Venezuela at a time of widespread hunger in the crisis-wracked South American nation. The Battle Creek, Michigan-based company said in a statement Tuesday that it was prompted to cease operations as a result of continued economic deterioration. Kellogg’s factory in the city of Maracay employs around 550 people that... Read More

TD Bank discounts 5-year variable mortgage rate as competition heats up

TD Bank discounts 5-year variable mortgage rate as competition heats up
TORONTO — TD Bank is joining a rival bank in offering a highly discounted variable mortgage rate as competition among Canada’s biggest lenders heats up. The Toronto-based bank said Tuesday it’s lowering its five-year variable closed rate to 2.45 per cent, or 1.15 per cent lower than its TD Mortgage Prime rate, until May 31. TD’s special rate follows last week’s... Read More

Louis Audet to resign as Cogeco CEO, will remain with cable, broadcasting company

Louis Audet to resign as Cogeco CEO, will remain with cable, broadcasting company
MONTREAL — Louis Audet is stepping aside as president and CEO of the Cogeco cable and broadcasting companies founded by his family, and will be replaced on Sept. 1 by Philippe Jette, who has been president of an affiliated company. Audet — who has been chief executive officer of the two Cogeco publicly-traded companies for about 25 years — will... Read More