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Interfor approved for acquisition of P&T sawmills


January 14, 2008
By Pulp & Paper Canada

Vancouver, BC — International Forest Products (Interfor) announced it has received Bankruptcy Court approval in C…

Vancouver, BC — International Forest Products (Interfor) announced it has received Bankruptcy Court approval in Canada and the U.S. to proceed with the acquisition of three Pope & Talbot sawmills and related timber tenures for $US69 million plus working capital.

The transaction has also been approved by the Canadian Competition Bureau and U.S. anti-trust authorities. Completion of the transaction remains conditional upon certain other regulatory approvals which are expected to be in hand by the end of March 2008.

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Interfor also announced that it had reached agreement to sell the Spearfish, SD, sawmill, being acquired as part of the P&T transaction, to Neiman Enterprises, a family-owned company based in Hulett, WY. The sale of the Spearfish sawmill will close concurrently with the P&T transaction. Interfor will receive approximately US$14 million plus working capital from the Spearfish sale.


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