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
Oregon Lumber Industry Concerned About New Emission Rules
Oregon’s Department of Environmental Quality has been working for the past year on a set of rules, known as Cleaner Air Oregon, aimed at regulating emissions produced by industrial facilities. The new regulations have been…
Canadian Firms May Build New Sawmills In U.S. South
From: Timber Processing Editors Two Canadian-based companies, both in recent years having purchased and now operating multiple sawmills in the U.S. South, are considering building greenfield sawmills in the South. Interfor reports it has completed…
Maine’s Robbins Lumber Named Champion Of Economic Development
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); The Maine Development Foundation honored Robbins Lumber Inc. as a “Champion of Economic Development” at the foundation’s recent annual meeting in Bangor. In the spirit of the annual meeting theme —…
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.