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
Nashville Sets Perfect Stage For Lumber Conference
Lumber producers who made the trek to Room 205 and the 2023 Productivity & Efficiency Conference produced by Timber Processing and sponsored by Southern Forest Products Assn. (SFPA) were not disappointed as the event featured a wide range of speakers who delivered insights on different facets of mill operations…
Sawmillers Show Up At EXPO
After six shows in Atlanta, Ga. dating back to 2011, the Southern Forest Products Assn., host of the biennial Forest Products Machinery & Equipment EXPO, decided to move the 37th edition to Nashville, Tenn. Held August 23-25, this was an exciting change for exhibitors and attendees alike—the Music City Center was in the heart of the city, allowing everyone the chance to not only walk from the variety of hotels and top-notch restaurants to the show floor but also enjoy all that Nashville has to offer by way of its world-famous music scene…
Single-Family Starts Lead U.S. Housing Rebound In July
U.S. housing starts increased in July to a seasonally adjusted rate of 1.452 million, nearly 4% above June (and 6% above July a year ago). Single-family housing starts in July were at a rate of 983,000, 6.7% above June, while multi-family starts were 460,000, even with June, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report…
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.