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
Armor In Housing Starts Reveals Crack
U.S. housing starts dropped significantly in May 2022, down 14.4% from April to a seasonally adjusted rate of 1.549 million, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report. Both single-family and multi-family starts took hits…
Lucidyne Becomes Microtec Corvallis
Corvallis, Ore.-based Lucidyne Technologies, which was purchased in 2020 by Microtec, is now named Microtec Corvallis as Microtec finalizes its branding integration plans. Last year, following its acquisitions of Finscan and Woodeye, Microtec rebranded Finscan as Microtec Espoo and Woodeye as…
Softwood Lumbermen Still Feeling Good
U.S. softwood lumbermen are not as bullish about their lumber business situation as they were a year ago, but they’re still upbeat and capital expenditure projects are in full force, according to Timber Processing’s annual 2022 U.S. Sawmill Operations & Capital Expenditures Survey…
Multi-Family Housing Continues Surge
U.S. single-family housing starts in April dipped 7.3% from March to a seasonally adjusted rate of 1.1 million, but multi-family starts (five units or more) shot up 16.8% over March to 612,000, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new…
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.