Maibec Inc. Announces Acquisition of B.C.’s Stave Lake Cedar Mill and Prefinishing Facilities

Maibec Inc. and Waldun Forest Ltd., announced on Thursday (11/12) that they had entered into a joint agreement for Maibec’s acquisition of Stave Lake Cedar Mill prefinishing facility located in Dewdney B.C. as well as the assets and brand rights for Stave Lake Cedar Shingles, value added Western Red Cedar and Yellow Cedar Shingles. The closing of this transaction is subject to customary closing conditions and is expected to be completed by the end of November 2020. After that Stave Lake Cedar Mill will operate under the name of Maibec Stave Lake^TM. Waldun will remain an important shingle supply partner of Maibec – Stave Lake. Maibec is already the largest producer of Eastern White Cedar Shingles as well as Custom Color Spruce Siding, Maibec will now leverage its innovation expertise with the addition of Western Red Cedar and Alaskan Yellow Cedar shingles and therefore, become one of the largest manufacturer of customized siding products for the Canadian and U.S. markets.