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
Element5 Chooses Pinomatic For Glulam Expansion
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Pinomatic is delivering a glulam line and sorting line infeed to the Element5 mass timber facility in St. Thomas, Ontario. The project delivery in North American market represents yet another big…
Progress Industries No-Slot Chipper
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); The Progress Industries “No-Slot” chipper is the newest addition to a growing line of wood utilization equipment. The “No-Slot” chipper is a combination of old principles and new ones. It is…
Arizona Operation Gains Funding
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Restoration Forest Products Group, which previously operated as New Life Forest Products and before that as Good Earth Power, reported earlier this year it has received $95 million in additional financing…
Zip-O-Log Mills Celebrates 80 Years
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Zip-O-Log Mills, Inc., a cornerstone of the Pacific Northwest lumber industry, proudly announces its 80th anniversary. This significant milestone celebrates four generations of dedication to quality, innovation, and exceptional service. Founded…
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.