West Fraser has made a major purchase. For U.S.$325 million, the company bought 13 sawmills from International Pape…
West Fraser has made a major purchase. For U.S.$325 million, the company bought 13 sawmills from International Paper, positioning the Vancouver-based company as the second largest lumber producer in North America.
The facilities, located in North and South Carolina, Georgia, Florida, Alabama, Arkansas and Texas, provide jobs for roughly 2,200 people and have a combined annual production capacity of approximately 1.8 billion board feet of lumber. West Fraser already owns two sawmills in the region.
“This is a long-term strategic move that strengthens our core lumber business, gives us significant new geographic, fibre and product diversification, and establishes West Fraser as a major presence in the U.S. South,” Hank Ketcham, president, chairman and CEO said of the purchase.
According to a report by CBC, International Paper entered the deal as part of its plan to focus on uncoated papers and global industrial and consumer packaging, as well as its North American distribution division.
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