Canfor Corporation on Thursday (12-16-21) announced it has entered into an agreement with Millar Western Forest Products Ltd. to acquire the Millar’s solid wood operations located in Alberta, Canada, and associated tenure for $420 million (CAD), which includes $56 million in working capital. Millar Western’s solid wood operations will add 630 million board feet of production capacity.
News in lumber
West Fraser Completes Acquisition of Angelina Forest Products Lumber Mill
West Fraser Timber Co. Ltd. announced (12-1-21) that it will close on the acquisition of the Angelina Forest Products lumber mill located in Lufkin, Texas today. The company said that it has completed the U.S. regulatory review and other conditions have been satisfied.
West Fraser Announces Reduction in Operations at Multiple Locations in Western Canada
West Fraser has announced that while the magnitude and duration of the impact from current weather events remains uncertain, it has reduced operating schedules at multiple western Canadian locations and will continue to make such adjustments as necessary in order to manage inventory levels, raw material supplies and our integrated fiber supply chain.
U.S. Department of Commerce Releases Final Determination for the Second Administrative Review
On November 24, 2021 the U.S. Department of Commerce released its final determination of the antidumping and countervailing duty rates on softwood lumber imports from Canada. The rates (below) will take effect once published in the federal register, which is expected to occur on November 30, 2021.
Interfor Corporation Announces Agreement to Purchase EACOM Timber Corporation
Interfor Corporation announced on Tuesday, November 23, 2021 that it has reached an agreement with an affiliate of Kelso & Company to acquire 100% of the equity and interests of EACOM Timber Corporation. The purchase price is C$490 million on a cash and debt-free basis, which includes C$120 million of net working capital.
Softwood Lumber Board Announces $420K to Match Wood Innovation Grants
The Softwood Lumber Board (SLB) has announced that in 2022, it will provide funding matches for projects under the Wood Innovation Grant Program (WIGP). In 2021, the SLB provided funding matches for three projects under the Wood Innovations Grant Program, each exploring new potential for wood products.
Humboldt Sawmill Company Now Offering FSC® Certified Douglas-Fir
Traditionally known for their premium-quality redwood lumber products, including decking and timbers, Humboldt Sawmill Company also supplies Douglas-fir. The Douglas-fir produced by Humboldt comes with a particular difference — certification to the standards of the Forest Stewardship Council® (FSC® C013133).
New Sawmill to Aid in Rebuilding after Dixie Wildfire Destroys Nearly a Million Acres in California
The Sierra Institute has recognized the need to both do something about all the dead and blackened trees and has heard from residents about that need. The Sierra Institute has purchased a sawmill that will, in their words, “change the dynamics of Dixie Fire restoration and forest management across Plumas County.”
USNR and Wood Fiber Group Announce Merger
In a transaction that will create the world’s most comprehensive supplier of the equipment, technology, and essential tools used in modern wood processing facilities, USNR and Wood Fiber Group have announced their merger. The merger will create a single company with unmatched product range.
West Fraser Enters into Agreement to Purchase Angelina Forest Products Lumber Mill in Lufkin, Texas
West Fraser Timber Co. Ltd. announced today (10-12-21) that it has entered into an agreement to acquire Angelina Forest Products lumber mill located in Lufkin, Texas for approximately $300 million (USD), subject to certain post-closing adjustments. West Fraser is anticipating the transaction will close following successful completion of U.S. regulatory reviews and satisfaction of customary conditions.