VANCOUVER, British Columbia — Canfor Corp. announced completion of its $73 million acquisition of the Resolute El Dorado sawmill in Union Country, Ark., adding that is has been renamed Iron Mountain sawmill.

Canfor said the Iron Mountain sawmill is a “strategic complement” to its existing regional operations, including its adjacent El Dorado laminating plant and its nearby Urbana sawmill. Operational synergies created by these three operations provide vertical integration opportunities for Canfor’s two glulam plants and boost capacity near customers and marketin the South.

"The acquisition, together with the intended investment and expansion in the mill, is a strategic opportunity for us," said Lee Goodloe, president of Canfor Southern Pine. "As a growth-oriented forest products company, we see this as an opportunity to expand the depth and breadth of our manufacturing capabilities in Arkansas' rich, high-quality wood basket and to provide our customers with a more comprehensive product offering."

Canfor recently reported a Q2 2024 operating loss of $251 million due mainly to sustained weakness in North American lumber markets with continued downward pressure on benchmark pricing, particularly for Southern yellow pine. The company said it sees ongoing constraints accessing economically viable fiber in British Columbia impacting lumber and pulp operating rates in the near-term and through the balance of the year.