By: The Working Forest Staff
W.D. Moore Logging is exiting the contracting business, citing thin profits in a high-risk business, according to a story in the Vancouver Sun. Owner Graham Lasure told the Sun for the capital intensity of the logging business, the profit margins are not worthwhile.
“We can maybe make two, three, five per cent (per year),” Lasure said, but the business used to be able to make more.
“We’ll make as much money if we put it in Royal Bank (stocks) at four per cent dividends, with no risk,” Lasure said.
Lasure has sold off his company’s logging contracts and will dispose of W.D. Moore’s logging camp and about 95 pieces of equipment, which will displace some 25 employees, says the Sun.
For the complete Vancouver Sun story, click here.