Conifex Timber has entered into a definitive purchase agreement to acquire Lignum Forest Products, a private partnership which operates a lumber marketing and distribution business, for approximately $4 million, the company announced Monday.
Conifex intends to fund the transaction from its existing available cash. Lignum operates its forestry and lumber distribution business in BC, providing Conifex “extensive market reach in the North American market through a network of established inventory locations”. Also Monday, Conifex announced that Patrick Bell has been appointed to the newly created role of Executive Vice President. Bell brings to his new role extensive experience derived from a diverse background, as the company said in the press release. During his political career, Bell served three terms in the BC Legislature and held a number of high profile positions with the Provincial Government, including Minister of Jobs, Tourism and Skills Training, and Minister of Forests and Range. The role of Executive VP will be based in Conifex’s Prince George, BC office.