A $45 million joint venture between Jasper Lumber Co. and Canada’s Tolko Industries Ltd. will create at least 60 jobs, Gov. Kay Ivey said today.
The expansion will triple capacity at Jasper Lumber’s existing sawmill and bring new work for subsidiary companies. The plan is for new facilities, new machinery and increased shifting at the mill. The new venture will operate under the company Jasper Forest Products LLC.
Ivey called the venture “great news for Jasper and for Alabama.”
“The venture between Jasper Lumber and Tolko Industries will deliver a significant economic impact in Walker County through new investment and jobs,” she said. “It will also provide a major boost to a key industry sector in the area, setting the stage for growth that can be sustained for years to come.”
Under the agreement, Tolko, a family-owned privately held wood products company based in British Columbia, will hold a 50% stake in Jasper Forest Products. Jasper Lumber is also family-owned.
Jasper Lumber COO Roy Beall said the partnership will build on his company’s long history in the community, where it has manufactured southern pine lumber for more than 30 years.
“This partnership with Tolko will allow us to create jobs and expand our capacity from our current 70 million board feet to approximately 200 million,” he said. “We are looking forward to working with Tolko, our valued customers and the state and local economic development community.”
Construction at the Jasper sawmill will begin in early 2021.