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West Fraser Timber Co. to buy U.S. lumber business for US$430-million
VANCOUVER
The Canadian Press

This article was published more than 6 years ago. Some information may no longer be current.

A machine unloads logs for processing at the West Fraser Timber Co. sawmill in Quesnel, British Columbia, Canada in this file photo.David Ryder/Bloomberg

Canadian forestry company West Fraser Timber Co. says it has agreed to buy a U.S. lumber business for about US$430-million.

B.C.-based West Fraser says it will acquire the operations of the Gilman Companies from the Howard Gilman Foundation and other shareholders.

The Gilman Companies are comprised of six sawmills and a finger-joint mill in Florida and Georgia as well as an administrative office in Georgia.

The operations employ approximately 900 people and have a combined annual production capacity of 700 million board feet of lumber.

The deal, which is subject to U.S. regulatory approval and customary conditions, is anticipated to close in the third quarter of this year.

The U.S. has hit Canada with an additional 6.87 per cent in softwood lumber tariffs, leaving the industry facing average duties of about 27 per cent. Prime Minister Justin Trudeau says he is focused on getting a deal for Canadians.

The Canadian Press

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