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
Nashville Sets Perfect Stage For Lumber Conference
Lumber producers who made the trek to Room 205 and the 2023 Productivity & Efficiency Conference produced by Timber Processing and sponsored by Southern Forest Products Assn. (SFPA) were not disappointed as the event featured a wide range of speakers who delivered insights on different facets of mill operations…
Sawmillers Show Up At EXPO
After six shows in Atlanta, Ga. dating back to 2011, the Southern Forest Products Assn., host of the biennial Forest Products Machinery & Equipment EXPO, decided to move the 37th edition to Nashville, Tenn. Held August 23-25, this was an exciting change for exhibitors and attendees alike—the Music City Center was in the heart of the city, allowing everyone the chance to not only walk from the variety of hotels and top-notch restaurants to the show floor but also enjoy all that Nashville has to offer by way of its world-famous music scene…
Single-Family Starts Lead U.S. Housing Rebound In July
U.S. housing starts increased in July to a seasonally adjusted rate of 1.452 million, nearly 4% above June (and 6% above July a year ago). Single-family housing starts in July were at a rate of 983,000, 6.7% above June, while multi-family starts were 460,000, even with June, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report…
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.