Header: Header: Header:

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.

RELATED ARTICLES

Satellite Pellet Mills Will Count On Sawmill Byproducts

Drax Purchase Alters Biomass Landscape

Pinnacle, Tolko Team Up Again

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548381461985-0'); });
googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548381402298-0'); });

Latest News

Mühlböck Secures Contract In California

Upper Austrian timber drying specialist Mühlböck continues its international growth trajectory and has secured a project in the USA. Mühlböck is supplying four 1306 PRO dry kilns with a total volume of over 230MBF to…

C&C FP Invests Over $21 Million In Coushatta Rebuild 

C&C FP Invests Over $21 Million In Coushatta, Louisiana Sawmill C&C Forest Products announced it is investing over $21 million to rebuild its Coushatta, Louisiana sawmill following a 2025 fire, repositioning the facility as a…

Canfor Acquires I-Joist Operation

Canfor Corp. has entered into an agreement with PinkWood Ltd. to purchase its I-joist business for $68 million, including working capital. Founded in 2009, PinkWood is the largest I-joist facility in Western Canada, producing engineered…

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