WPF buys Cascadia
November 21, 2005 By Pulp & Paper Canada
Western Forest Products had entered an agreement with Trilon Bancorp. The deal will see WPF acquire 100% of Cascadi…
Western Forest Products had entered an agreement with Trilon Bancorp. The deal will see WPF acquire 100% of Cascadia Forest Products for roughly $120 million, plus all of Cascadia’s net working capital.
Through the transaction, WPF will obtain 3.6 million cubic metres of associated annual Crown harvest rights in coastal B.C., four sawmills and four remanufacturing facilities on Vancouver island, the leased Island Phoenix division sawmill, a custom-cut business, and a global marketing and sales organization with offices in Canada, Japan, Australia, China and agency relationships worldwide.
The combined Western and Cascadia operations will have over 1.5 billion board feet of annual lumber capacity and 6.8 million cubic metres of annual allowable cut from Crown-owned tenures on Vancouver Island, the mainland coast and the Queen Charlotte Islands.
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