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
Austria’s Klausner Group Plans To Build Sawmill In North Florida
The U.S. subsidiary of Austrian lumber giant Klausner Group is planning to build a 700 million board ft./year sawmill in North Florida, Euwid reported on July 30. Few details have apparently been released, but Euwid…
Wood Products Boost Revenues At Weyerhaeuser
Weyerhaeuser Co., one of the industry’s largest supplier of wood products, reported net sales from continuing operations of $1.8 billion for its second fiscal quarter, a 12.5% increase over net sales from continuing operations of…
N.M. Rep. Pursues Forest Restoration Efforts Through Logging, Sawmilling
U.S. Representative Steve Pearce is continuing to pursue his desire to create jobs by reestablishing logging and sawmilling in New Mexico, and specifically in Cibola County. He visited the Mt. Taylor Manufacturing’s sawmill in Milan…
Burns Lake Sawmill Recovery Efforts Continue, Six Months After The Blast
It was six months ago last Friday that explosion and fire ripped through the Babine Forest Products saw mill in Burns Lake. Two people died, a further 44 were injured. Since that time, there have…
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.