Glenwood Sawmill
Canada’s Resolute Forest Products announced that it completed the previously disclosed acquisition of Conifex Timber’s three sawmills in the US South with the total purchase price of US$163 million, plus working capital, which is estimated at US$13 million. Source: Timberbiz
The three sawmills, with combined production capacity of 550 million board feet, are located in Cross City (Florida), and Glenwood and El Dorado (Arkansas). The facilities produce construction-grade dimensional lumber and decking products from locally-sourced southern yellow pine for distribution within the United States.
“We are pleased to welcome the new employees to Resolute,” Yves Laflamme, president and chief executive officer said.
“The acquisition of the US sawmills is the right move, at the right time, for Resolute; it will give us immediate scale in an attractive region, with quality assets in a rich fibre basket, close to growing end-markets.”
This transaction diversifies the company’s lumber production: when operating to capacity, almost 25% of Resolute’s production will be in the US South.
