A Vernon company has expanded its activities on the Prairies.
Tolko Industries now has full ownership of the oriented strand board mill in Meadow Lake, Sask.
“Tolko is anchored in small communities and nowhere is this more evident than in Meadow Lake,” said Brad Thorlakson, Tolko chief executive officer.
In 2001, Tolko entered into partnership with the Saskatchewan government and First Nations stakeholders to build an OSB plant in Meadow Lake.
The decision to take on full ownership is keeping with the 2001 agreement.
“We are reaffirming our commitment to Meadow Lake and to OSB production and we’re looking forward to realizing the full potential of our asset under the Tolko flag,” said Thorlakson.
Employees at the plant have been notified of the purchase but no significant changes are anticipated.
“We are committed to the OSB business as part of our operating model and we are looking forward to continuing to build on Meadow Lake’s position as an innovative, exciting, high quality production facility and great place to work,” said Jim Baskerville, vice president of OSB and kraft paper.
“This news dovetails quite nicely with the reopening of our state of the art Athabasca facility, which is due to produce first board early in December. Between these two operations, Tolko is well positioned to have a strong presence in the OSB market for the foreseeable future.”