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Canfor sells sawmill (December 28, 2004)


December 28, 2004
By Pulp & Paper Canada

Canfor Corporation has entered an agreement with Pope & Talbot for the sale of its Fort St. James Sawmill Division…

Canfor Corporation has entered an agreement with Pope & Talbot for the sale of its Fort St. James Sawmill Division in BC. For $39 million plus the value of inventory, the transaction will include the transfer of related harvesting rights of approximately 640,000 cubic metres to Pope & Talbot.

Canfor’s decision to sell the sawmill came after a consent agreement between the company and the Commissioner of the Competition in relation to its acquisition of Slocan. "The Fort St. James Sawmill was not an asset that Canfor wanted to divest itself of but was required to by the Competition Bureau as a condition of approval for the acquisition of Slocan," explained Jim Shepard, president and CEO of Canfor. The deal is expected to close on March 1st, 2005.

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