Canfor Buys

Canfor Corp, out of Vancouver, BC, announced Wednesday the purchase of the operating assets of Southern Lumber Co. The acquisition includes a sawmill located in Hermanville, MI, which is a large log southern yellow pine dimension mill manufacturing predominately long, wide width lumber. The sawmill is in an area of exceptionally high quality fibre and is well suited for higher value product lines. After reflecting near term capital, the operation has a capacity of 90 million board feet.
The purchase price excluding working capital is US$48.7 million and the completion of the transaction is expected at the end of 1Q 2015 and is subject to customary closing conditions.