THUNDER BAY, ON -- February 6, 2016 --- AV Terrace Bay Announces New Supply Agreement With Mkwa Timber LP TERRACE BAY, February 5, 2016 - AV Terrace Bay Inc. (AVTB) Friday announced a contractual agreement with Mkwa Timber LP which initiates a long term partnership where Mkwa Timber LP becomes a significant fibre supplier to AVTB.
AVTB and Mkwa Timber have been working diligently towards this agreement for the last year as Mkwa Timber developed their harvest capacity / investment strategy. The wood fibre being harvested by Mkwa Timber is part of AV Terrace Bay’s committed Crown fibre supply from the Pic River Forest, being sustainably managed by the Nawiinginokiima Forest Management Corporation.
“We are very supportive of their business development initiatives and their objectives of skills training, capacity building and creating direct employment for community members, all within their traditional territory.” Giovanni Iadeluca, CEO, AV Terrace Bay Inc.
Iadeluca adds, “It is great to see new investment and new harvest capacity in the forests we rely on. We are looking forward to building a long-term relationship with Mkwa Timber.”
About Mkwa Timber
Biigtigong Nishnaabeg (formerly Pic River First Nation) took possession of its new Ponsee harvesting equipment in January enabling its forestry company, Mkwa Timber to start harvesting off its traditional land this winter. As part of their continued growth, Biigtigong Nishnaabeg is looking forward to an ongoing relationship with AVTB to create new opportunities for employment, increased interest in ongoing forestry initiatives and added supply stability.
The goal is to establish Mkwa Timber as a consistent supplier of sustainable fibre to Northern Ontario mills and continue to grow their local economy and workforce.
The original pulp mill was built in 1947. After a period of instability, the Terrace Bay Mill became the third Canadian company to join the Aditya Birla Group's pulp and fiber business (Grasim Industries Ltd.) in July 2012..