PLASTER ROCK, N.B.—Twin Rivers Paper Company Inc. said it is investing $2.5-million and adding a third shift to its mill in northwestern New Brunswick.
The additional shift will add 50 new employees to the facility in Plaster Rock, N.B., that currently employs 180 people.
The investment in the lumber mill comes about two weeks after the provincial government introduced a new forestry sector strategy that increases the amount of softwood forestry firms can take from Crown land by 20 per cent.
“As a result of the government’s action and the new forestry strategy we will have access to a sustainable wood supply and will be able to continue investing in our company and providing jobs in our community,” Twin Rivers vice-president of forestry and sawmill operations Jean Pierre Grenon said in a statement.
“The strategy provides clarity and a path forward to make investments now and in the future.”
Last year, a pair of American investment firms bought a controlling stake in Twin Rivers from Toronto-based Brookfield Asset Management Inc.
“Since we took the helm of Twin Rivers last June, our plan has always been to create a sustainable business that will be well positioned to thrive and grow over the long-term,” says Grenon.
“The forestry strategy has strengthened our ability do this and for New Brunswick to compete on the world stage.”
The third shift at the mill is expected to be running by May.
The investment is expected to create or retain about 70 to 80 indirect jobs in the province, including in the woods and transport industry.