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FactsFax - Issue #460 Central Interior Logging Association - May 23, 2008 Forest and Resources Expo Forest and Resources Expo is being held June 5-7 in Prince George. Be sure to book your accommodation now as hotel room availability is very limited. Well over 240 suppliers are scheduled to exhibit their latest technologies and products. Seminars will be held both Thursday and Friday with a common theme of Shared Industry Issues. Thursday's seminars include "Multi-Industry Resource Road Use," "Engaging First Nations," "Cutting Edge Technologies" and "Developing Asia-Pacific Opportunities." A bonus session on "Contracts Ins and Outs" with Garry Mancell is being held Thursday afternoon. Friday's seminars include "A Review of Industry Safety Associations," "Safety Management Systems," "Substance Abuse in the Workplace" and "The Workforce and Workplace of the Future." Luncheons will be held on Thursday and Friday. Doctor David Fung of the Canada Chinese Business Council will be speaking about "Doing Business with China" at Thursday's luncheon, and Andrew Ramlo of Urban Futures Institute will be presenting "A Perfect Storm - Sustaining Canada's Economy During our Next Demographic Transformation" on Friday. A welcome reception is being held Thursday evening and the chairman's dinner and dance will be held Friday evening. Contact Elsie or Ellys at the CILA for seminar registration and other ticket information at 250.562.3368 or <cila@pgonline.com>. CILA members receive a 15 percent seminar discount. Further information on the Expo or accommodation can be found at <www.forestandresources.org>. Mayor welcomes relief Mayor Colin Kinsley is seeking more information on programs available to offset the impact of the provincial carbon tax. The city estimates that by 2012, heating costs alone will add $94,000 per year. WorkSafeBC hosts information sessions WorkSafeBC, in cooperation with the CILA, is hosting Part 26 - Forestry Regulations and Resource Road Safety Plan information sessions, open to all interested persons in northern communities. Sessions are scheduled as follows: Prince George: May 21 and June 25 Quesnel: May 26 Williams Lake: May 27 100 Mile House: June 12 Smithers: June 13 Dawson Creek: June 16 Fort St. John: June 17 Scheduled times are 9 to 11 am and 6 to 8 pm. Only morning sessions are scheduled for Smithers, 100 Mile House and Fort St. John. Contact WorkSafeBC at 800.663.6623 or the CILA office at 250.562.3368 for further info and meeting locations. Regulation Review The CILA and other industry leaders met with government representatives in Vancouver on Tuesday as part of the BC government's 90 day review of forestry regulations announced by premier Gordon Campbell in January. The regulatory review is being undertaken to identify opportunities to streamline and reduce unnecessary red tape, cut processing time and eliminate unnecessary cost burdens resulting from regulation. The province received over 500 recommendations from industry associations, forest companies, educational institutions, individuals, government ministries and agencies. Government has consolidated the list of all submissions, which includes over 340 unique suggestions to reduce red tape and improve efficiencies. Government has indicated it is already taking action on 40 recommendations. The Roundtable Secretariat is consulting with the industry in its effort to identify the priority for other recommendations. CILA recommends retaining Bill 13 to provide security for contractors; an exemption or carbon tax credit applied to the supply chain involved in the manufacture of green building products (wood) and environmentally-friendly bio-energy production; establishing a dedicated working forest; removing the three sale limit for BC Timber Sales, and others. Ainsworth Lumber bleeds cash Ainsworth Lumber reported an $88.2 million loss this quarter, on the heels of a $216.5 million loss reported for 2007. The company produces oriented strand board and other panel products. It owns operations in BC, Alberta and Ontario and operations in Minnesota, US. "Our ability to continue as an ongoing concern will be dependent upon the the continuing support of our creditors and suppliers, obtaining additional financing or refinancing our capital structure, and ultimately, achieving profitable operations," the company said in a prepared statement. The first quarter loss of $88.2 million compares to a $22.8 million loss a year ago. The company has been plagued by the US housing market collapse and the strong Canadian dollar. In March, the company failed in a bid to refinance $823.5 million US worth of corporate debt by exchanging a series of older unsecured bonds with new secured ones. Forest industry analyst Kevin Mason suggests that Ainsworth will be challenged to secure refinancing in today's market.
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