Japan Wood Products
Prices
Dollar Exchange Rates of
31th July. 2009
Japan Yen 94.62
Reports From Japan
May plywood imports and housing starts continue to slow
In May 2009, Japan’s plywood imports fell 40.7% by
volume from the same month in 2008 (Figure 1), reported
Japan Lumber Reports (JLR). Housing starts in May were
30.8% less than the same month of 2008 (Figure 2), with
wood-based units making up 53% of total units.
Sumitomo Forestry to establish joint venture
According to Japan Lumber Reports, Sumitomo Forestry
has set up a new interior materials joint venture in
Indonesia, PT Sinar Rimba Pasifik (SRP). Operations are
planned to start in October 2009, with Sumitomo Forestry
investing nearly 51% of the capital necessary to construct
the plant, with Panca Wana Indonesia (PWI) supplying the
remaining 49%. PWI has been involved in the business
initiative as it has a history of manufacturing interior
fittings for Sumitomo’s Forestry housing division. Most of
the 180 workers for the new venture will be hired locally
in Indonesia, creating new jobs for the local people. The
new plant will specialize in the manufacturing of interior
materials from maple and teak, flooring and stairs and
counters.
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