The Situation
Emerging out of the worst economic downturn in its 65-year history, Tolko Industries Ltd. was facing serious challenges. Tolko’s prior strategy relied almost exclusively on sales to the U.S., resulting in a serious drop in revenue when the bottom fell out of the U.S. housing market in 2007. The 3,500 employees were disheartened by layoffs, and the company was challenged to retain good people.
Tolko is a privately owned forest products company based in Vernon, British Columbia. It manufactures and markets specialty forest products to world markets. Tolko's products include lumber, plywood, veneer, engineered wood products, and kraft papers.