Monday, December 20, 2010

Coast Tsimshian Resources pays dividends to members of First Nation

At a return of 100 dollars a member, Coast Tsimshian Resources is providing for a welcome return on investment for local Coast Tsimshian residents and owners of the First Nations forestry company this Christmas.

Over the weekend, The Vancouver Sun outlined the details of the first ever dividend cheques handed out to residents of Lax Kw'alaams last Thursday, marking the first of the estimated 3,300 Coast Tsimshian to receive their share of the company's success for 2010.

The article by Gordon Hamilton goes on to explain the success of the company which acquired the timber rights of the failed Skeena Cellulose company six years ago and has since then turned those timber rights into an economic engine for the region.

As one of the northwest's largest companies, Coast Tsimshian currently employs 200 people in a variety of functions related to the timber industry, an industry most had given up for dead on the north coast in the wake of the economically devastating Skeena failure.

Included in its list of economic development is a newly created biocoal wood pellet plant, a joint venture with Global Biofuel Energy, taking waste wood and turning it into yet another product for the export market all while employing 30 people in the process.

The Coast Tsimshian have also opened up a trade office in Beijing and brought life once again to the Industrial park in Prince Rupert where a log debarked process the logs for further shipment mostly to China.

In an era of corporate downsizing or abandonment in some cases on the North coast, the success of the various Coast Tsimshian efforts seems to be a different breeze blowing on the north coast these days.

The full review of the path from inception to dividends can be found from Sunday's Vancouver Sun, an article you can examine here.

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