The National Event for Canada's Wood Industry

Nov. 4 - Nov. 6, 2021 | International Centre | Mississauga, Ontario
WMS News

 

 

Drax increases stake in U.S. pellet plants

Drax Group announced plans to acquire a 20 percent minority interest in Alabama Pellets LLC for $29.7 million cash consideration in a deal with The Westervelt Co. The deal is expected to be finalized by the end of July and will increase Drax's interest in Alabama Pellets to 90 percent.

ShopBot Tools transitions to employee-ownership trust

DURHAM, N.C. – CNC machinery specialist ShopBot Tools announced it has recently restructured as an Employee Ownership Trust (EOT). Founder and Board Chair Ted Hall said the move was designed to position the company for long-term success by empowering employees while providing liquidity for shareholders.

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