We are entering the second year of a three-year energy savings project at our wood fibers facility in Florida, which when completed will save the equivalent of over 200,000 barrels of #6 fuel oil annually and reduce our dependency on fossil fuels and purchased electricity.
Complementing this project are several innovative renewable energy opportunities with the potential to further reduce our reliance on fossil fuels while creating additional value streams.
Finally, during the past quarter we have formed a Strategic Growth Team, which includes strong outside expertise, responsible for evaluating and developing options to support our corporate objective of executing profitable growth strategies."