Interfor signs deal to buy lumber producer Eacom Timber for $490 million
BURNABY, B.C. — Interfor Corp. has signed a deal to buy Eacom Timber Corp., a lumber producer with operations in Ontario and Quebec, for $490 million.
The company says the deal grows its total lumber production capacity by 25 per cent and grows its business in Eastern Canada.
Eacom has seven sawmills with a combined annual spruce-pine-fir lumber production capacity of 985 million board feet and an I-Joist plant with annual production capacity of 70 million linear feet.
It also has a remanufacturing plant with annual production capacity of 60 million board feet and rights to access about 3.6 million cubic meters per year of responsibly managed and internationally certified fibre supply.
Interfor says the Eacom business will operate under the Interfor banner, but it will maintain all of its key operating leadership and employees as well as its office in Montreal.
The company says its total annual lumber production capacity will increase to 4.9 billion board feet, of which 46 per cent will be in the U.S. South, 16 per cent in the U.S. Northwest, 20 per cent in Eastern Canada and 18 per cent in British Columbia.
This report by The Canadian Press was first published Nov. 23, 2021.
Companies in this story: (TSX:IFP)
Provided Content: Content provided by Canadian Press. The Globe and Mail was not involved, and material was not reviewed prior to publication.
