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
Worldwide Softwood Lumber Demand Pushes Prices Higher
Increased demand for softwood lumber worldwide has pushed lumber prices higher, especially in the United States and China during the first half of 2017, according to the Wood Resource Quarterly, published by Wood Resources International…
Montana Senators Take Aim At Canadian Lumber Exports
Montana’s two U.S. Senators testified Wednesday before a federal commission tasked with investigating Canadian lumber export practices. Sens. Steve Daines (R) and Jon Tester (D) were joined by colleagues from other western states and representatives…
Georgia-Pacific Plans To Build Mill At Talladega
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Georgia-Pacific reports that it plans to build a $100 million sawmill in Talladega, Ala. at the site of a plywood plant that GP closed in 2008. Construction of the 300,000 sq.…
Northwest Hardwoods Moves Into New Wood-Forward Headquarters
In June 2017, Northwest Hardwoods (NWH) moved its company headquarters, home to about 60 employees, four blocks to a new office space in Tacoma, WA. The purpose of the move, says Brian Narramore, Vice President…
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.