Canfor & Slocan team up
April 6, 2004 By Pulp & Paper Canada
Canfor Corp. and Slocan Forest Products Ltd. have completed the combination of their businesses pursuant to a plan…
Canfor Corp. and Slocan Forest Products Ltd. have completed the combination of their businesses pursuant to a plan of arrangement.
The combined business will have approximately 13 million cubic meters of annual harvesting rights under its forest tenures.
Under the arrangement, Canfor acquired all of the issued and outstanding shares of Slocan in exchange for the issuance to Slocan shareholders of 1.3147 Canfor shares for each Slocan share held by them, representing approximately 49.3 million Canfor shares.
Canfor and Slocan believe that the combination creates a world class, integrated forest products company with the production capability, competitive cost structure, product diversification and supply chain management necessary to succeed and grow in the highly competitive global forest products industry.
With production facilities in British Columbia, Alberta, Quebec and the United States, Canfor now has an annual production capacity of over 5.2 billion board feet of lumber, 950 million square feet of plywood and oriented strand board (OSB), 1.2 million tonnes of high quality NBSK pulp and 142,000 tonnes of kraft paper.
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