Pinnacle Renewable Energy To Be Acquired By Drax Group

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548381510056-0'); });

Pinnacle Renewable Energy Inc. has entered into an arrangement agreement with Drax Group and its wholly-owned subsidiary, Drax Canadian Holdings Inc., pursuant to which Drax will acquire all of the issued and outstanding common shares of Pinnacle in an all-cash transaction valued at C$831 million, including the assumption of net debt and Pinnacle’s non-controlling interests in its joint ventures.

Duncan Davies, Pinnacle’s CEO, says, “Pinnacle’s Board of Directors has unanimously determined that the transaction represents the best course of action for the company and its shareholders. On closing, the transaction will deliver immediate, significant and certain cash value to our shareholders. At the same time, the combination of Pinnacle and Drax will create a global leader in sustainable biomass with the vision, technical expertise and financial strength to help meet the growing demand for renewable energy products around the world.”

The several minority partnerships Pinnacle has in place with sawmill companies appear to remain under the proposed acquisition.

Latest News

U.S. Endowment Launches $5 Million Funding Opportunity

The U.S. Endowment for Forestry and Communities has announced a $5 million funding opportunity to connect underutilized wood fiber with new buyers, strengthen regional supply chains and keep working forests economically viable. This effort will…

Comact Completes Acquisition Of Oleson Saw Technology

Comact, a global leader in high-performance OEM wood-processing technologies, has announced the completion of its acquisition of Oleson Saw Technology, a well-established leader in wide bandsaw blade manufacturing. The transaction strengthens Comact’s cutting and saw…

Winwood Forest Products Expanding Sawmill Operations In Mississippi

Natchez, Inc. today announced a significant expansion by Winnwood Forest Products at the Mississippi River Energy Complex, a former IP property in Natchez, marking another investment in Adams County’s growing industrial base. The expansion includes…

« Older Entries

Next Entries »

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548381237439-0'); });

Find Us On Social

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380448760-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380578329-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380709898-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380656716-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380767732-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380810300-0'); });

Newsletter

The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.

Subscribe Now

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.

Complete the form

Advertise

Complete the online form so we can direct you to the appropriate Sales Representative.

Contact Us