Green Energy Resources has signed a US$15 million deal for sale of woodchips to companies in China.
The sale is reportedly the second in three months contracted by Green Energy Resources destined for China. The exports are expected to begin in the second quarter of this year.
Green Energy Resources is expanding sourcing of woodchips to California, Oregon, and Washington from its current supply bases in Massachusetts and North Carolina. Company executives are actively seeking strategic partners in the region for the near one million tons of woodchips required annually for exports. The order comes at a time when lumber production in the northwest of the United States has slowed due to the housing and construction declines and many mills are contemplating closing.