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
Hatton-Brown Partners With Wood Industry Summit At Ligna
Hall 26 will once again be home to the Wood Industry Summit during Ligna 2017 in Hannover, Germany and Hatton-Brown Publishers is once again an official partner of the event. Hatton-Brown Publishers is affiliated with…
U.S. Lumber Prices Soar, Creating Huge Uncertainties
The U.S. lumber markets are already seeing some major price volatility, where W-SPF lumber prices soared by a whopping 25% (US$78/Mbf) in the three-week period between January 27 and February 17, 2017 and up US$83/Mbf…
Oregon Lumber Companies File Lawsuit Over Monument Expansion
Two lumber companies filed a lawsuit Friday challenging the legality of President Barack Obama’s expansion of the Cascade-Siskiyou National Monument during his last days in office. Murphy Co. and a related company, Murphy Timber Investments…
Patrick Lumber Co. Acquires Portions Of Mary’s River Lumber In Oregon
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Portland-based Patrick Lumber Co. announced Wednesday it has acquired a portion of Mary’s River Lumber Co., in Philomath. The acquisition includes 8 acres that encompasses five dry kilns and the reman…
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.