Canfor Reaches Agreement To Buy Three Mills In U.S. South
Canfor Corp. announced it has reached an agreement to purchase three sawmills in the southern U.S., marking the third major purchase in the region this year by a B.C. forest company.
“Basically, we have a Canadian invasion going on,” said David Elstone, an analyst with ERA Forest Forest Products Research.
Canfor announced it is purchasing the three mills from family-owned Scotch and Gulf Lumber, of Mobile, Ala., for $80 million U.S. The purchase is phased, with Canfor taking a 25-percent interest in the company when the deal closes in the third quarter of 2013, a 50-percent interest 18 months later, and full ownership at the end of three years.
The mills have a combined capacity of 440,000 board feet of Southern Yellow Pine a year. “This agreement provides access to an exceptional fiber base, increases our Southern Pine production capacity to more than a billion board feet and will improve our ability to serve our valued U.S. customers,” Canfor president Don Kayne said in a news release announcing the deal.
Canfor already owns five sawmills in North Carolina. Rival West Fraser owns 13 mills spread across the South, and earlier this year Interfor purchased three mills in Georgia. It recently announced a fourth mill purchase.
RELATED ARTICLES
Canfor Plans New Sawmill In Louisiana
Canfor’s Vida Group Buys Sweden Mills
No-Go On Proposed Purchase Of Canfor
Latest News
Roseburg Names Orozco To Direct Strategic Business
Roseburg has annouced that Nadine Orozco has been promoted to Director of Strategic Business Development. She has served as manager of strategic business development since 2022, and has been deeply involved in key company projects, including the recent sale of Roseburg’s Simsboro, La., particleboard plant to Kronospan and the company’s historic $700 million investment in Oregon manufacturing.
Kalesnikoff Announces New Mass Timber Plant
Kalesnikoff Mass Timber announced it will build a $34 million mass timber facility in West Kootenays, British Columbia. It will create up to 90 jobs.
Hoffman Companies Acquires Besse Forest Products Group
The Hoffmann Family of Companies (HFOC), a Florida-based family-owned private equity firm, has acquired Besse Forest Products Group, the longstanding Michigan-based family-run company with 10 manufacturing facilities, including four sawmills, a lumber drying concentration yard, four veneer mills and a cut-to-size plywood mill.
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.