Canfor has completed the acquisition of the Tembec Industries Ltd.’s southern British Columbia interior wood products assets consisting of the Elko and Canal Flats sawmills and approximately 1.1 million m3 of combined Crown, private land and contract annual allowable cut. The transaction includes a long-term residual fiber supply agreement for Tembec’s Skookumchuck mill.
“Canfor is pleased to welcome the former Tembec employees into the Canfor family and is looking forward to continuing the development of strong community and First Nations relationships,” says Don Kayne, president and CEO of Canfor.
The additional sawmill production will add approximately 420MMBF to Canfor’s annual capacity, which will now be more than 5 billion BF. Canfor reports it intends to make capital investments in excess of $50 million in the southern BC mill facilities over the next few years.