As part of a major expansion in the U.S., British Columbia-based Conifex Timber announced an agreement with investors Blue Wolf Capital (BW) to purchase sawmills in Florida and Arkansas – representing a combined dimension lumber capacity of 370 million board feet.
Florida’s Suwannee sawmill and Arkansas’ Caddo River sawmill – the acquired operations – both primarily produce Southern Yellow Pine softwood lumber and specialty products like decking. Each has an annual dimension lumber capacity of around 185 million board feet.
The agreement will increase Conifex’s annual capacity by 50 percent – reaching upwards of 1.1 billion board feet of lumber produced per year. Its dimension lumber platform in the Southern U.S. will effectively double, reaching around 550 million board feet. That represents about 50 percent of the company’s total lumber output.
The acquired mills also add premium SYP decking products to the Conifex arsenal, along with long-standing customer relationships in Florida and the southern and eastern U.S.
“This is a highly strategic and transformative transaction for Conifex,” said Conifex president and CEO Ken Shields. “It brings together two successful growth-oriented companies to create a leading SYP lumber producer. The Suwannee and Caddo River mills significantly increase our presence in the U.S. South, which we have identified as an important strategic area with proximity to high-quality and abundant fiber supply in addition to some of North America’s fastest growing population centers and housing markets.”
From Woodworking Network: https://www.woodworkingnetwork.com/news/woodworking-industry-news/canadas-conifex-lumber-expands-us-multiple-sawmill-acquisitions?ss=news,news,woodworking_industry_news,news,almanac_market_data,news,canadian_news