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Interfor powers ahead with restructuring program

International Forest products has wrapped up the sale of its surplus properties in Mamquam Channel in Squamish, BC.

International Forest products has wrapped up the sale of its surplus properties in Mamquam Channel in Squamish, BC.

The second quarter proved to be a busy one for the company. On top of those transactions, Interfor additionally sold off excess properties in Bella Coola, BC, it sold its Saltair remanufacturing facility, also in British Columbia, the equipment from the former Field sawmill site in Comox, BC and surplus logging equipment. As a result of all these changes, there was some cognate staff restructuring that had to be undertaken.

In total, these sales after severance payments generated roughly $12 million.