Canfor Announces Acquisition Of Arkansas’ Anthony Forest Products
Canfor Corporation announces that it has entered into an agreement to purchase Anthony Forest Products Company located in El Dorado, Arkansas for a purchase price of $93.5 million US that includes approximately $15 million US of working capital.
AFP operates 6 facilities producing lumber, engineered wood and wood chips with a combined capacity of 250 mmbf equivalent. AFP owns a sawmill located in Urbana, Arkansas which produces premium Southern pine lumber and has an operational capacity of 150 mmbf per year. It also owns laminating facilities in El Dorado, Arkansas and Washington, Georgia, which produce beams, columns and other glulam products with an annual combined capacity of 75 mmbf, and owns chip mills in Louisiana and Texas with a total annual capacity of 800,000 tons. AFP also owns a 50% interest in Anthony EACOM Inc. a joint venture with EACOM Timber Corporation, located in Sault Ste. Marie, Ontario which manufactures I- joists, with an annual capacity of 54 million lineal feet.
AFP’s trailing 12 month EBITDA through August 2015 was approximately $16 million US, while EBITDA for its most recent fiscal year ended April 30, 2015 approximated $19 million US. Concurrent with the acquisition, the company has priced a US$100 million long term debt financing with Prudential Capital Group. The senior unsecured notes will carry an interest rate of 4.40% and will have an average maturity in 2024. The financing will close on October 2, 2015.
“We are proud to add AFP to our family of Canfor Operations in the US South” said Canfor Corporation President and CEO Don Kayne. “AFP has a reputation for quality products and excellent customer service and with facilities located in abundant and high quality fiber supply areas in Arkansas, Louisiana and Georgia this partnership adds exceptional value to our growing US South presence.”
RELATED ARTICLES
Canfor Plans New Sawmill In Louisiana
Canfor’s Vida Group Buys Sweden Mills
No-Go On Proposed Purchase Of Canfor
Latest News
U.S. Housing Starts Boom In November
U.S. housing starts—single-family and multi-family combined—made their largest monthly increase in 2023, jumping 14.8% in November over October to a rate of 1.560 million. Single-family starts in November were at a rate of 1.143 million, a whopping 18% above October, while multi-family was 404,000 in November, up nearly 9% over October…
Weyerhaeuser Enhances Coastal Holdings
Weyerhaeuser Co. entered into two agreements with Forest Investment Associates to divest 69,600 acres in upstate South Carolina for $170 million, and to purchase 60,700 acres of high-quality timberlands in coastal North Carolina, South Carolina and Mississippi for $163 million…
Boise Cascade Curtails Chapman Sawmill
Boise Cascade announced an indefinite curtailment of its lumber production in Chapman, Ala. The curtailment will affect 80 positions. The plywood operations at the Chapman location are not part of the curtailment. Worker Adjustment and Retraining Notification (WARN) Act notification was provided to impacted employees and specifies that operations will cease on January 28, 2024…
WWPA’s Mathews Leaves A Legacy
James R. Mathews, known by most as Jim, was a WWPA Lumber Inspector and Master Lumberman, but is most remembered by his colleagues and those in the industry as a great friend and mentor. He died at the age of 74. Mathews spent 42 years working in the lumber industry. He began his career with Weyerhaeuser Co., Klamath Falls, Oregon in 1970. He worked in most of the planer mill positions until moving into the lumber grading department as a student grader in 1972…
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.