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
Metsa Wood Calls For Collaboration In Timber Innovation
Modular construction, using timber as a key element, is a credible solution to fast and sustainable house building. However, Metsä Wood believes that more needs to be done in terms of sharing knowledge and innovation…
More Record-Level Lumber Prices Expected In 2018 From U.S. Import Duties
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); In WOOD MARKETS’ new five-year softwood lumber forecast, the continuation of U.S. duties on Canadian lumber exports to the U.S. are expected to cause more short-term market and price volatility. The…
Florida’s Rex Lumber Eyes Expansion With New Mill In Southeast
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Rex Lumber, headquartered in Graceville, Florida is expanding with a greenfield sawmill in the Southeast. Rex currently operates three sawmills, two in the Florida Panhandle and one in Mississippi, producing a…
Study: Mountain Pine Beetle Impacts On Montana Sawmills
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); A new study authored by the University of Montana’s Bureau of Business and Economic Research and the U.S. Forest Service Rocky Mountain Research Station examines the impact of the mountain pine…
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.