Conifex Timber Buying Shuttered G-P Sawmill In Arkansas
Conifex Timber Inc. of Vancouver, Canada, said Thursday that it is buying the former Georgia-Pacific sawmill south of El Dorado.
The statement said Conifex has completed the purchase of the outstanding shares and shareholder loans of a private Delaware company. The consideration consisted of 100,000 common shares of the company at a deemed price of $6.75 Canadian dollars, as well as the reimbursement of certain costs previously incurred by the vendor.
The Delaware company had the exclusive rights to acquire the sawmill and related facilities and equipment, including approximately 186 acres of land.
Along with the closing of the purchase, the Delaware company exercised its right to acquire the El Dorado mill for total consideration of $21 million United States dollars, comprised of $12.36 million in cash and an $8.64 million vendor mortgage.
Ken Shields, chief executive officer of Conifex commented, “It’s important to Conifex to secure this ideal site and high quality infrastructure in one of the most advantaged softwood supply regions in North America.”
From The Magnolia Reporter: magnoliareporter.com
Latest News
Peak Announce SYP Pellet Mill
Vancouver, Canada-based Peak Renewables plans to build a 180,000 metric tons per year wood pellet mill in Dothan, Ala. The $30 million project will utilize residuals from Rex Lumber sawmills in the area. Construction on the facility is expected to be completed by mid-2023. Peak is building the plant adjacent the SmartLam cross-laminated timber plant and upcoming glulam facility in Dothan…
U.S. Housing Starts Dip In September, Both Single-Family & Multi-Family Soften
U.S. housing starts dropped 8.1% in September from August to a seasonally adjusted annual rate of 1.439 million, including a drop in single-family starts of 4.7% to 892,000 and a decline in multi-family starts of 13.1% to 530,000, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report…
Interfor To Acquire Chaleur Forest Products
Interfor has announced today that it has reached an agreement with an affiliate of the Kilmer Group to acquire 100% of the equity interests in the entities comprising Chaleur Forest Products. Chaleur owns two modern and well-capitalized sawmill operations located in Belledune and Bathurst, New Brunswick, with a…
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.