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
BC Harvesting Deferrals Kick In
No harvesting will be allowed on nearly 1.7 million hectares (4.2 million acres) of old-growth in British Columbia as the province and First Nations throughout it develop a new approach to sustainable forest management. “Our government’s new vision for forestry is one where we better…
Multi-Family Housing Takes Up Slack For March
U.S. housing starts edged higher in March, increasing 0.3% to a seasonally adjusted rate 1.793 million, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction…
Freres Celebrates Centennial Anniversary
Lyons, Ore.-based Freres Lumber Co., now doing business as Freres Engineered Wood, is celebrating its centennial year, marking a century of transformative growth and positive impact on the wood products industry, clients, employees, and its surrounding communities. Freres celebrates this…
Oregon Timber Agreement Said To Be Historic
An historic agreement between the timber industry and environmental advocates that the Oregon state legislature recently passed into law forms a comprehensive set of changes to the Oregon Forest Practices Act, and is the result of months of negotiations facilitated by Gov. Kate Brown in which…
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.