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
NHLA: How Important Is The U.S. Wood Products Industry?
In a recent message from the National Hardwood Lumber Association encouraging member companies to contact representatives in Washington regarding the tariff situation, NHLA passed on this information from the Hardwood Federation on the importance of…
Anthony Timberlands Acquires Arkansas Hardwood Sawmill, Chip Mill
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Anthony Timberlands Inc. announced that it will purchase the hardwood sawmill and chip mill facility in Mt. Holly (Union County) that is owned and operated by Watson Sawmill Co. Inc. “The…
U.S. Lumber Price Surge Results In Record Profit
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Lumber prices in the U.S. have experienced a spectacular surge in 2017 and the first half of 2018. By the end of the 2Q/18, the benchmark lumber price index reported by…
Wood Construction Pushes Forward On Both Sides Of The Border
Mass timber construction is making waves on both sides of the Canada-U.S. border, but factors in each country mean a different pace of progress. The state of Washington is rapidly moving forward on both green…
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.