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Northwood Pulp & Timber - Finance - Financial Summary 1979
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- Textual record
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- Northwood Pulp and Timber Ltd.
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1 cm of textual records
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Northwood Pulp was established in 1961 when Canadian corporation, Noranda Mines Limited, diversified into the British Columbia forest industry. Partnering with the Mead Corporation of Dayton, Ohio, Noranda Mines Ltd. purchased the Sinclair and Upper Fraser Sawmills, both east of Prince George. After the purchase of these two sawmills, as well as the proliferation of others, there became an excess of waste wood products generated by milling in the central interior of British Columbia. To meet this specific waste reduction need, and to expand into a new wood fibre market, the Mead Corporation and Noranda Mines built Northwood Pulp Mill in 1964-1965. Northwood Pulp Mill was, and still is, a processing plant dedicated to the conversion of waste wood chips to pulp and paper products.
In 1980-1981 an expansion was added to the mill which effectively doubled Northwood's capacity for the making of pulp kraft paper from waste wood chips.
In 1999, the Canadian Forest Products (a.k.a. Canfor) acquired all of the shares of Northwood Inc.; a purchase which included the Northwood Pulp Mill, Prince George Sawmill, North Central Plywoods, Rustad, Houston and Upper Fraser operations, the Kyahwood Forest Products joint venture and J.D. Little Forest Centre. This acquisition gave Canfor the unique designation of being Canada's largest producer of softwood lumber and kraft market pulp.
In February 2006 Canfor effectively separated its pulp business from its wood products business; a strategic move which resulted in the transfer of its northern softwood kraft pulp and paper business, including its Northwood Pulp Mill, Intercontinental Pulp Mill and Prince George Pulp and Paper Mill, together with associated management and employees (now referred to as the “Pulp Income Trust”) to an indirectly owned limited partnership known as the “Canfor Pulp Limited Partnership”.
Name of creator
Adam Hartley Zimmerman, O.C., B.A., F.C.A. (1927 - 2016 ) was born in Toronto. From 1930 to 1941 he lived with his family in Youngstown and Niagara Falls, New York while his father worked with the Moore Corporation as a mining engineer. Adam moved back to Ontario to complete junior high school and attended Upper Canada College from 1938-40, Ridley College from 1940-44, the Royal Canadian Naval College 1944-46, and Trinity College, University of Toronto, 1946-50. He received a Bachelor of Arts degree in General Arts with a major in Philosophy in 1950. He also served six years in the Royal Canadian Naval Reserve rising to the ranks of lieutenant.
After graduation and a brief term with Proctor Gamble, Zimmerman decided to join Clarkson Gordon (now Ernst & Young), as a student-in-accounts from 1950-54; received his CA and worked as a Chartered Accountant (1956) and Audit Supervisor, 1956-58. Mr. Zimerman then joined Noranda Inc. first serving as an Assistant Comptroller at Noranda Mines (1958-61), and then Comptroller (1961-1966). He subsequently became Vice President and Comptroller (1966-1974), Executive Vice President (1974-1982), President and CEO (1982-87), Vice Chairman of Noranda Inc. (1987-1992), as well as CEO, Noranda Forest Inc. (1987-1991), Chairman (1987-1993), and Director (1987-1994), as well as Chairman (1983-1990) and Vice Chairman (1990-1993) of MacMillan Bloedel after it was acquired by Noranda Forests Inc. Zimmerman also served as an independent director of Algoma Steel and as a foreign director at Royal Dutch Paper Mills (when MB was a dominant shareholder). Zimmerman retired from Noranda Inc. in 1994.
Mr. Zimmerman has served on over 40 private and public sector boards throughout his career including directorships on the following Northwood Pulp and Timber Ltd.; Confederation Life Insurance Co.; The Toronto Dominion Bank; Battery Technologies Inc.; Economic Investment Trust; Maple Leaf Foods Inc.; The Pittston Co.; Southam Inc; and Hydro One (2002- ). He has had had many professional affiliations during his career including with: C.D. Howe Institute (Former Chairman & Dir.); Institute of Chartered Accountants of Ontario (Fellow); Canadian Pulp & Paper Association (former Chairman); Canadian Forest Industries Council (former Chairman); University of Toronto, Faculty of Forestry (Advisory Board.); The Hospital for Sick Children (Honorary Trustee); The Hospital for Sick Children Foundation (Director); Roy Thomson Hall (Director); World Wildlife Fund Canada (Executive Committee); Zeta Psi; York Club; Toronto Golf Club; Craigleith Ski Club; Madawaska Club.
Publications: Who’s in Charge Here, Anyway?: reflections from a life in business, (Don Mills, Ontario: Stoddart; Distributed in Canada by General Distribution Services), 1997.
HONOURS: Distinguished Business Alumni Award, Univ. of Toronto, 1992; LL.D. (Hon), Royal Roads Military College; D.S.L., Trinity University, Toronto. Member of the University of Toronto, Faculty of Forestry; a Fellow of the Institute of Chartered Accountants of Ontario; Past Chairman, Canadian American Committee; and board positions with the Mining Association of Canada; Canadian Forest Industries Council; Canadian Pulp and Paper Association and with Zeta Psi.
Scope and content
File contains financial summaries from companies within Noranda's Forest Products Division, including quarterly and yearly actuals and estimates.
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Personal or academic use of materials is welcomed under the standard fair use and educational use clauses of Canadian Copyright Law. Commercial use is, however, forbidden without the express permission of the copyright holder. For information on obtaining written permission from the copyright holder, please contact the Northern B.C. Archives and Special Collections.
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- Noranda Inc. (Subject)