Canfor Announces Acquisition Of Arkansas’ Anthony Forest Products
Canfor Corporation announces that it has entered into an agreement to purchase Anthony Forest Products Company located in El Dorado, Arkansas for a purchase price of $93.5 million US that includes approximately $15 million US of working capital.
AFP operates 6 facilities producing lumber, engineered wood and wood chips with a combined capacity of 250 mmbf equivalent. AFP owns a sawmill located in Urbana, Arkansas which produces premium Southern pine lumber and has an operational capacity of 150 mmbf per year. It also owns laminating facilities in El Dorado, Arkansas and Washington, Georgia, which produce beams, columns and other glulam products with an annual combined capacity of 75 mmbf, and owns chip mills in Louisiana and Texas with a total annual capacity of 800,000 tons. AFP also owns a 50% interest in Anthony EACOM Inc. a joint venture with EACOM Timber Corporation, located in Sault Ste. Marie, Ontario which manufactures I- joists, with an annual capacity of 54 million lineal feet.
AFP’s trailing 12 month EBITDA through August 2015 was approximately $16 million US, while EBITDA for its most recent fiscal year ended April 30, 2015 approximated $19 million US. Concurrent with the acquisition, the company has priced a US$100 million long term debt financing with Prudential Capital Group. The senior unsecured notes will carry an interest rate of 4.40% and will have an average maturity in 2024. The financing will close on October 2, 2015.
“We are proud to add AFP to our family of Canfor Operations in the US South” said Canfor Corporation President and CEO Don Kayne. “AFP has a reputation for quality products and excellent customer service and with facilities located in abundant and high quality fiber supply areas in Arkansas, Louisiana and Georgia this partnership adds exceptional value to our growing US South presence.”
RELATED ARTICLES
Canfor Plans New Sawmill In Louisiana
Canfor’s Vida Group Buys Sweden Mills
No-Go On Proposed Purchase Of Canfor
Latest News
Single-Family Starts Rise Again
U.S. housing starts reached a seasonally adjusted rate of 1.415 million in September, a 1.9% increase above August and an 11.1% increase over September 2019. Single-family starts carried the day at 1.108 million in September, a whopping…
Hatton-Brown Will Produce Conference During SFPA Expo
Article appears in Timber Processing October 2020 –
Southern Forest Products Assn. (SFPA) and Hatton-Brown Publishers, Inc. announce a collaboration on a sawmill…
No Barnum & Bailey Act But We’re Trying
Article by Rich Donnell, Editor-in-Chief, Timber Processing September 2020 – If you didn’t know any better, you would think the Timber Processing & Energy Expo, scheduled for September 30 to October 2…
Single-Family Housing Starts Go Up
According to the U.S. Census Bureau monthly new residential construction report, U.S. single-family housing starts continued their climb in August, reaching 1.021 million, a 4.1% increase over July and 12% above August a year ago….
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.