International Forest Products To Acquire Tolleson Ilim Lumber
Canada’s International Forest Products Ltd. agreed Sunday to acquire Tolleson Ilim Lumber Co. from Russia’s Ilim Timber Continental SA for $180 million, including working capital, in a deal that would make it one of the five largest lumber producers in North America based on production capacity.
Tolleson operates two sawmills in Perry and Preston, Ga., in the U.S. southeast with combined annual lumber capacity of more than 400 million board feet, complementing International Forest’s operations in nearby Thomaston and Eatonton, Ga.
International Forest, or Interfor, said the transaction will allow it to increase by almost 20% its annual lumber production capacity to 2.6 billion board feet ranking it among the top-five lumber companies in North America, while providing it a platform for future growth and annual cost savings and efficiencies of more than $5 million. Vancouver-based Interfor is ranked about eighth among North American lumber producers based on production capacity.
Following the acquisition, Interfor’s operations in the U.S. southeast will represent about 35% of its production capacity.
“This transaction represents a significant step for Interfor,” Duncan Davies, Interfor’s chief executive, said in a release. “The Tolleson mills are a great fit with our operations in the U.S. southeast and provide a larger footprint on which to build our presence in the region.”
From The Wall Street Journal: online.wsj.com
Latest News
Study: Wooden Buildings Are Cheaper And Cleaner
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Although it may seem counter-intuitive, it would be better if we built buildings from wood than from concrete, brick, aluminum and steel. We use millions of tons of these modern materials…
U.S. Exports Of Logs And Lumber Continue Slide
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); U.S. exports of logs and lumber via ocean container declined year-over-year in January for the fourth consecutive month, partly because of declining demand from China and unfavorable exchange rates. After growing…
American Wood Council Awarded USDA Grant To Research Tall Wood Construction
The American Wood Council has been awarded a $250,000 grant from the U.S. Department of Agriculture (USDA) to conduct research on the fire performance of mass timber buildings. AWC will partner with the National Fire…
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.