Canfor Corporation announced it will purchase Daaquam Lumber Inc. and Produits Forestiers Anticosti Inc., two priva…
Canfor Corporation announced it will purchase Daaquam Lumber Inc. and Produits Forestiers Anticosti Inc., two privately owned lumber and timber harvesting companies based in Quebec City.
Daaquam is a lumber manufacturing operation located in Saint-Just-de-Bretenires, QC, with an annual capacity of 150 million board feet, and timber-cutting rights in the surrounding region.
Anticosti holds additional timber rights and has harvesting operations on Anticosti Island. Under the terms of the agreement, Canfor will acquire the companies for a total of $50 million in cash and assumed debt. The transaction is expected to close on May 30, 2003 and is subject to completion of final documentation and regulatory approval.
Daaquam’s lumber mill is one of the lowest cost operations in Quebec and has been continually upgraded, with over $30 million of capital invested since 1996.
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