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TimberWest sells sawmill

TimberWest is preparing to sell its Elk Falls sawmill.

TimberWest is preparing to sell its Elk Falls sawmill.

Located at Campbell River, on Vancouver Island, Elk Falls, “requires another infusion of new capital for continued success,” the company said of its decision to sell the operation.

“Given the cyclicality and capital-intensive nature of the sawmilling business, our capital structure is not the best structure in which to hold this type of asset,” said Paul McElligott, president and CEO of TimberWest Forest Corp.

“Our corporate focus is the timberland business and conversion assets are difficult for us to own and operate. Our future growth plans are focused on timberlands,” he added.