Canfor Agrees to Buy Millar Western Lumber Operations

SEATTLE (Scrap Monster): Canfor Corporation announced that it has entered into an agreement with Millar Western Forest Products Ltd. to acquire the latter’s assets including its solid wood products assets, including lumber mills and woodlands operations along with associated forest tenure. The $420 million acquisition deal also includes $56 million in working capital. The transaction is expected to close during the first quarter of 2022, subject to regulatory approvals and other closing conditions.

The Millar Western solid wood operations will add approximately 630 million board feet of production capacity. The acquired assets comprise three well-capitalized operations including two sawmill complexes in Whitecourt and Fox Creek and the high-value, specialty Spruceland Millworks facility in Acheson. Meantime, Millar Western will continue to operate its bleached chemi-thermomechanical pulp (BCTMP) mill in Whitecourt.

Don Kayne, President, Canfor said that the agreement is part of the company’s strategy to grow and diversify its global operating platform. The company is excited to expand its Alberta operations to meet the growing demand for high-quality and sustainable wood products from its customers.

YOU MAY ALSO BE INTERESTED IN:

Canfor Urges B.C. to Rethink Decision to Defer Old Forests

Canfor Announced Production Curtailments at B.C. Pulp Mills