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The expansion project comprises construction of a double-wide tissue machine featuring LDC technology, as well as the installation of two additional converting lines.

The acquired plants fit well into Boise Cascade’s existing footprint of integrated facilities in the Southeast.

The company has taken up and purchased for cancellation a total of 11.898 million common shares at a price of $95 per share under its substantial issuer bid for an aggregate purchase price of around $1.130 billion.

The acquired facility will continue to operate as usual. All existing volume commitments and agreements with customers and suppliers will be honoured.

Furthermore, it plans to expand BID’s manufacturing footprint by way of acquisition of the adjacent Dover Hydraulics South facility.

The company will implement two weeks of rotating downtime across its primary sawmills during the months of July and August.

This is Astara’s second sawmill investment, following its earlier acquisition of Cross City, LLC in April last year.