January 17, 2024
Government of British Columbia Approves $2.3M for Richply’s Manufacturing Jobs Fund Application
Richmond Plywood’s President; Harbinder Athwal along with CFO; Bhavjit Thandi attended the BC Natural Resources Forum where the Premier of BC; David Eby announced that Richmond Plywood would be receiving provincial funding. Bhavjit Thandi, CFO was invited to speak at a Press Conference alongside Brenda Bailey; Minister of Jobs, Economic Development and Innovation, Bruce Ralston; Minister of Forests, Andrew Mercier; Minister of State for Sustainable Forestry Innovation and Roly Russell; Parliamentary Secretary for Rural Development.
The BC provincial government will be providing $2.3 Million Dollars in funding towards our approved capital projects, the Automatic Patch Line, Automatic Layup Line and Composer. Our projects entail acquiring and installing innovative equipment to enhance Richply’s value-added-manufacturing process and improve the quality of our plywood products. It will enhance the usability of second-growth fibre by streamlining the repair and upgrading processes, reducing wastage, and improving overall productivity. The project will drive operational efficiency, reduce our carbon footprint, and allow us to produce high-quality value-add plywood products with lower-quality inputs. Provincial MJF funding is crucial, as the need for value-added plywood is increasing rapidly. By embracing this project and aligning Richply’s production processes with the B.C. Government’s goals and policies around forestry, Richply can ensure the sustainability of 400+ jobs. Through the continued positive outcomes of Richply’s investments into new, safer, and innovative technology, those currently at Richply will wholly benefit from this project, contributing to long-term, well-paying, secure jobs in the region. This is fantastic news for Richply and will help us grow Richply to its full potential.
Richply gratefully acknowledges the financial support of the Province of British Columbia through the Ministry of Jobs, Economic Development and Innovation.