Wednesday, May 10, 2023 1:00 pm
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CANADA (News release) -- Simpcw Resources Group (SRG), the economic-development arm of the Simpcw First Nation, has announced a significant equity investment in a whole-log chipping facility located in Kamloops, British Columbia. The acquisition transaction closed on May 1 and SRG and the Arrow Group of Companies (the Arrow Group) now operate the facility under a newly formed limited partnership, River City Fibre LP.
The Arrow Group is a leader in transportation, logistics, environmental and forest residual management and acquired River City Fibre in 2016. The Arrow Group made significant capital investment in the facility in 2022, adding a large chipper and upgrading the electrical system, plant control systems, and the plant in- and out-feed conveyors. The company also partnered with Kruger Inc. last year to build an enclosed electric conveyor system to move wood chips from the facility to Kruger's chip yard, located directly across the street. The conveyor eliminates 40 to 50 truckloads every day and is estimated to reduce greenhouse gas emissions from the operation by approximately 400 tonnes annually.
Kruger is one of Canada's leading manufacturers of pulp and paper products and acquired the Kamloops Mill in June 2022.
The Arrow Group of Companies is a leader in transportation, logistics, environmental, and forest residual management.