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
OSU Gets Grant For Cross-Laminated Timber Research
Oregon Senators Jeff Merkley, the top Democrat on the Senate Appropriations Agriculture subcommittee, and Ron Wyden announced Thursday that a nearly half-million dollar U.S. Department of Agriculture grant was awarded to Oregon State University for…
Freres Lumber Representatives Visit Japanese Wood Products Manufacturers
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); One of the best aspects of our industry is how open and inviting other producers are to visitors. It is a fact that in the wood products industry some of our…
Pacific Northwest Weyerhaeuser Employees Vote On Union Strike Authority
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); About 1,200 Weyerhaeuser Co. employees in Washington and Oregon voted overwhelmingly to give the regional woodworkers union strike authority, paving the way for a work stoppage if negotiators continue to disagree…
Katerra Merges With KEF Infra, Already Has $3.7 Billion In Bookings
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Offsite design-build company Katerra and India-based manufacturing technology company KEF Infra have announced a merger that will see the newly formed KEF Katerra begin conducting operations in India and the Middle…
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.