VERNON, B.C. News release) -- The Board of Directors of Southeastern Timber Products LLC, an STP-Tolko Partnership (STP) are pleased to announce a $150 million USD capital investment in the STP lumber mill in Ackerman, Mississippi. The partnership is a joint venture between Tolko Industries (U.S.) Ltd. and STP Holdings, LLC. This investment is the next step in an expansion project that will upgrade the mill from 120MMFBM to 250MMFBM annual capacity. The project will conclude in the first quarter of 2024.

"This investment is tremendous news for Choctaw County and Mississippi," says Governor Tate Reeves. "It further expands the economic strength of this community and solidifies our state as a timber source for the world. I want to congratulate the entire team at Southeastern Timber Products and greatly look forward to seeing your continued success and growth!"

Board chair Pino Pucci and Board member Tommy Stansell say, "We want to thank Governor Reeves for his support on this project. Enhancing the capabilities of STP will serve our customers across North America and abroad, and the STP partnership is looking forward to this investment providing a long and prosperous future in Choctaw County and the state of Mississippi."

"The Board approval of the expansion is a testament to the employees at STP-Tolko in Ackerman, MS," says Billy Van Devender, CEO of Claw Forestry. "There have been significant incremental gains in our production and performance, which sets us up to make this additional investment into our mill and our state. The expansion will also create jobs and bring value to Mississippi timberland owners, many being family owned."

"We're excited to be moving to the next stage of this expansion," says Tolko CEO Brad Thorlakson. "We first announced our partnership with STP in November 2018 and are happy to reinvest in the community as well as help strengthen and expand the local job market."

About Southeastern Timber Products LLC, an STP-Tolko Partnership

STP is a family-owned and operated manufacturer of southern yellow pine with its manufacturing facility located in Ackerman, Mississippi. In continuous operation since 1972, the Ackerman facility currently produces approximately 120MMFBM of lumber on an annual basis. STP produces southern yellow pine dimension, timber, and decking products for the treating, homebuilding, and repair and remodel sectors.