A2 - The Terrace Standard, Wednesday, May 12,1999} Buck’s boost hurts producers THE CANADIAN dollar’s sume in recent weeks is starting to cat into the bot- tom lines of B.C. lumber producers. The dollar pierced the 69 cent jevel in trading against the U.S. dollar last week — up three and a-half cents in the last two months and-well above last year’s low of $63.5 cents U.S, “It’s concerning where it is right now,’’. admitted Emie Thony, West Fraser’s vice-president. .of lumber sales. West Fraser sells 45 per cent of its lumber to the US. A declining Canadian dol- lar taeans more money for a B.C. exporter for each sale priced in U.S, dollars. But a rising buck means less FROM FRONT SCI_now in black However, industry ob- servers think pulp and lum- ‘ ber prices should continue to strengthen, offsetting any further losses on exchange rates, “We're optimistic about the markets, we they’re heading in the right direction,’ the SCI official said. The other setback the company is anticipating is the revenue and profits it will have to forgo if and when it goes ahead with the upgrade to restart the B mill. That's because the whole money from each safe. Thony said a US $300 sale of 2x4s that translated: into $453 Canadian a month ago is now worth only $435 Ca- nadian to the firm. Fortuastely, U.S. lumber prices ave also been rising. But Thony said the losses on the exchange rate has so far been wiping out most of the gains from rising prices. The viability of marginal company operations —- such as Skeena Sawmills in Ter- race..—. could. come under increased pressure if the FROM FRONT dollar continues to slrength- en, he added. “The only thing that kept us going through 1998 was the fact we had a weak dol- Jar,’? Thony said, (Tf it strengthens much more and we get a decline in the price in U.S. dollars it’s a different story altogether.’’ B.C. Credit Union Central chief economist Helmut Pastrick said -another. big gain in the dollar is unlikely for the. short term,.. predict-.. ing a pullback to the 67 cent level is more probable. He said there's somewhal increased optimism ‘that economic tifficulties in Asia are casing. That could also bolster markets of various “com- modities in the to companies like Skeena Cellulose, which’ exports primarily to Japan. Even exporters to Asia are affected by the dollar's tise, because virtually all lumbe: and -pulp transactions. are -.-|>--:.--- priced in U.S. dollars. One cruise ship a week is the hope for next year the streets taking advantage of a locally agreed 40 per cent exchange rate on the U.S. dollar. “We did way over normal,’’ Saunders said. “We did probably five or six times a normal day.’” Krusel said one Cow Bay store had to close early be- cause it basically ran out of merchandise to sell. think, pulp mill will have to shut. : down for at least part of the | lime work is underway, “We'll have to take that hit when it occurs,’’ the of- ficial said, The company hopes to build up pulp inventory ahead of the shutdown. that it can sell downtime, he added, Skeena Giesbrechi, who asked the question in Question Period that prompted — Miller’s response, said he’s not yet. y, 2 optimistic that the profit’ being recorded in recent months is sustainable. ; “T don’ think anybody's comfortable that sustainable at all,’ brecht said. ; “[ don’t think anyone should draw into it that we've tured the comer,” he said. ‘We're not going to tum the comer until we make the investment in the B mill because that’s what’s Gies- during . the 7 MLA Helmut it’s - Sap Bib ion, i hE, going to make it more effi- * ” cient for the long term.” Giesbrecht said the letters being sent to government by northwesterners of all politi- cal stripes urging support for Skeena Cellulose are making a difference. “Tm very grateful to all those people who have writ- fen letters,’? he said. ‘I. think people should write more of them and especially send copies to the Liber- als,”” “Don’t stop,” he said, ‘The siruggle’s not over.’’ Two killed - TWO TERRACE men died- _ after being struck bya hydro pole May | ataroad- | side construction site five — kilometres east of Kitwanga. Ted Phillip Johnson, 44, _ and Adrian Oftebro, 45, were part of a five-person. crew B.C. Hydro contracted from Terrace’s Coast Power, owned © by Oftebro. The men were installing electrical power poles in a highway straightening pro- Pacific © “Almost every person standing in line to get back on board was carrying a shopping bag from some lo- cal store,’’ he added, Krusel said video footage shot of the visit, including the train ride, will now be ‘turned into a short video ta be distributed to all the cruise lines in an ongoing effort ta persuade them to ‘(From Wednesday to Saturday. add Prince Rupert to their itinerary. “This was the first step we had to take to prove northwestem B.C, can be a big time port of call on an . international level. And J lhink we did very well,”’ Veldman added. “Our biggest hope of hopes is that next year we get a ship coming in every week.” ‘coming ° months — and is important _ James W. Radelet a Medical Equipment Servi . 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