Conifex Timber Announces Acquisition Of Lignum Forest Products
Conifex Timber Inc. today announced that it has entered into a definitive purchase agreement to acquire Lignum Forest Products LLP, a private partnership which operates a lumber marketing and distribution business.
Lignum is an established and well respected name in the forestry and lumber distribution business in British Columbia. Lignum serves customers and distributes products that are complementary to those of Conifex. Lignum provides extensive market reach in the North American market through a network of established inventory locations.
The transaction provides for the acquisition by Conifex of Lignum for approximately US$4 million, which Conifex intends to fund from its existing available cash.
Ken Shields, Chief Executive Officer of Conifex, commented: “We believe that this transaction, including the retention of Lignum’s experienced personnel, will further advance our marketing and logistics capability while concurrently reducing overall marketing costs. We expect to significantly extend our market reach, particularly in the improving U.S. market, through enhanced access to complementary customers and product lines.”
The transaction is expected to close on or before January 31, 2014, subject to customary closing conditions. Mr. Hans Thur, Senior Vice-President of Conifex Timber Inc., will have oversight responsibility for Lignum.
Latest News
Katerra Merges With KEF Infra, Already Has $3.7 Billion In Bookings
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Offsite design-build company Katerra and India-based manufacturing technology company KEF Infra have announced a merger that will see the newly formed KEF Katerra begin conducting operations in India and the Middle…
Massachusetts Sawmill’s Planned Biomass Plant Met With Opposition
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); A long-planned wood-gasification plant for Roberts Brothers Lumber Co. has drawn fire from dozens of residents around the region, even though the business says it has no firm plans at this…
Vicksburg Forest Products Upgrading Mississippi Sawmill, Creating Jobs
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Vicksburg Forest Products is opening a lumber mill in Vicksburg, Mississippi. After significant upgrades and modifications are complete, the multi-million dollar corporate investment will create 125 jobs. In March 2018, Anderson-Tully…
High Lumber Prices Boosting Maine’s Forest Industry
Prices for wood to build and renovate houses have as much as doubled over the past six months, increasing costs for consumers but boosting Maine’s softwood sales and signaling a turnaround in that segment of…
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.