Canfor Corporation (TSX:CFP) has announced its acquisition of Wynndel Box and Lumber Ltd., located in the Creston Valley of British Columbia.
Wynndel Box and Lumber produces premium boards and customized specialty wood products sold under the brand name WynnWood.
The acquisition of assets includes a sawmill located in Wynndel, BC with an annual production capacity of 65 million board feet, and approximately 65,000 cubic metres of annual harvesting rights in the Kootenay Lake Timber Supply Area.
The agreement is expected to close in the second quarter of 2016 and is subject to customary closing conditions.
“This acquisition will further increase our focus on specialty markets worldwide,” said Canfor Corporation President and CEO Don Kayne. “We are pleased to further grow and diversify the product line we are able to provide to our global customers, and to welcome our new colleagues at WynnWood to Canfor.”
Source: Canfor/ Edited by Panels & Furniture Asia