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
Weyerhaeuser Led Company Through Key Years
George H. Weyerhaeuser Sr., who served as president and CEO of Weyerhaeuser Co. from 1966 to 1991 during an exciting period of wood products development while encountering new timber supply challenges brought on by an aggressive environmental movement in the Northwest, died June 11, 2022 in his sleep at home in Lakewood (Tacoma), Wash. He was 95…
Armor In Housing Starts Reveals Crack
U.S. housing starts dropped significantly in May 2022, down 14.4% from April to a seasonally adjusted rate of 1.549 million, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report. Both single-family and multi-family starts took hits…
Lucidyne Becomes Microtec Corvallis
Corvallis, Ore.-based Lucidyne Technologies, which was purchased in 2020 by Microtec, is now named Microtec Corvallis as Microtec finalizes its branding integration plans. Last year, following its acquisitions of Finscan and Woodeye, Microtec rebranded Finscan as Microtec Espoo and Woodeye as…
Softwood Lumbermen Still Feeling Good
U.S. softwood lumbermen are not as bullish about their lumber business situation as they were a year ago, but they’re still upbeat and capital expenditure projects are in full force, according to Timber Processing’s annual 2022 U.S. Sawmill Operations & Capital Expenditures Survey…
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.