Canfor Acquires I-Joist Operation
Canfor Corp. has entered into an agreement with PinkWood Ltd. to purchase its I-joist business for $68 million, including working capital. Founded in 2009, PinkWood is the largest I-joist facility in Western Canada, producing engineered wood joists for residential, multi-family, and commercial construction.
Located in Calgary, AB, PinkWood has 120 employees, with production capacity of 46 million linear feet.
Of the total consideration, $55 million is payable on closing, with the remaining $13 million payable over five years.
“PinkWood is a leading manufacturer of high-quality I-joists with a strong management team and stable returns,” says Susan Yurkovich, President and CEO, Canfor. “Canfor’s acquisition of PinkWood complements our operations in Western Canada by enhancing product diversification and supporting the continued expansion of our value-added manufacturing capabilities. We are pleased to welcome the PinkWood team and believe this acquisition will strengthen our existing asset base and create opportunities for growth and value creation.”
PinkWood will retain its name and operate as a wholly owned subsidiary of Canfor.
Latest News
Milwaukee OKs Tallest Mass Timber Structure
The Milwaukee, Wisconsin city planning commission recently approved rezoning for a project many believe will be the tallest mass timber structure in the U.S., though the project must still be approved by a neighborhood zoning…
LIGNA 2019 – Wood Industry Summit
The Wood Industry Summit will be in its third season at LIGNA 2019, which runs from May 27-31 in Hannover, Germany. Staged in Hall 26 with the theme “Access to Resources and Technology,” the summit…
NC Groups Partner With “Home For The Holidays” To Help First Responders, Vets Affected By Hurricane Florence
When Hurricane Florence slammed into North Carolina on September 14, 2018, as a category 1 rainmaker, it was clear that damage to the already rain-soaked state would be immense. As the state continues the recovery…
Georgia-Pacific Begins Construction On $135 Million Georgia Mill
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); American wood products firm Georgia-Pacific held an event last Monday to mark the commencement of construction on its new, $135 million softwood lumber plant in Warrenton, GA. Replacing an aging plant…
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.