MONTRÉAL — Arbec Forest Products Inc., a major Québec producer of OSB panels, has acquired the Forex OSB mill located in Amos, Québec, Canada. 

This is the second sell-off of a Forex facility in less than a month. In late April, LP Building Solutions entered into a definitive agreement under which LP will acquire the assets owned by Wawa OSB Inc., a subsidiary of Forex Inc. 

With this acquisition, Arbec is consolidating its position in the Canadian forest industry and now manufactures approximately 5% of the OSB production in North America.

"Forex is an innovative and efficient family business that, like us, pays special attention to raw materials and the environment. We are convinced that this acquisition will reinforce our commitment to excellence in manufacturing, innovation and sustainable development,".

"We are pleased that Arbec will continue to operate the Amos plant and maintain jobs and economic benefits in the region. I would like to thank the employees, customers and suppliers who have supported the Cossette family over the past 8 years in this project. Their commitment and dedication have been invaluable to the success of the company, and we are confident that this transition will also be successful," said Yolaine Rousseau, Executive Vice President of Forex Inc.

"The Amos Forex mill, an important part of the Abitibi regional forest ecosystem, fits perfectly into our development plan based on acquisitions and regional and national partnerships. We want to support local teams in continuing to innovate and optimize the mill while securing the direct and indirect jobs it generates. This acquisition will also allow us to increase the products offered to our customers," said Serge Mercier, CPA, Vice President Finance and Business Development of Arbec.

Forex's Amos plant employs 140 people and joins Arbec's OSB plants in Saint-Georges-de-Champlain, Québec and Miramichi, New Brunswick.

KPMG Corporate Finance Inc. acted as financial advisor and Miller Thomson LLP as legal advisor to Arbec Forest Products in connection with the transaction.