RIVIERE-DU-LOUP, Que. - A subsidiary of Groupe Lebel, Bois Daaquam has entered into an agreement to acquire Maibec's lumber division. The division includes two mills, at St-Pamphile, Quebec, and Masardis, Maine.
The softwood lumber mills employ approximately 315 people and have an annual combined production capacity of 270 million PMPs. According to Groupe Lebel, upon completion of the transaction it will have a lumber production capacity of 820 million PPM (85 percent Canadian and 15 percent American). This will be Groupe Lebel's first mill in the United States.
Details of the transaction, announced Aug. 6, were not disclosed.
Maibec President François Tardif said the company is exiting the lumber business to focus on its pre-stained exterior siding and shingles business. "This transaction allows the Maibec employees who work in both sawmills to join a family owned Quebec company that is well established in the Lower St-Lawrence lumber industry. Groupe Lebel will continue to develop its sawmilling sector and will be able to face new challenges in this sector with renewed confidence," Tardif said.
"We look forward to integrating our new employees into the Lebel Groupe team," said President and CEO Frédéric Lebel. "Maibec's wood factories have a strong management team and the St-Pamphile sawmill is at the cutting edge of technology. This acquisition aligns well with our existing plants, and reinforces the distinctive competence of our company."
Lebel added, "This is a unique opportunity to acquire major production sites, operating both in Canada and the United States, with a quality team and a corporate culture similar to ours."
Founded in 1956 and headquartered in Rivière-du-Loup, Quebec, Groupe Lebel also has nine sawmills, four value-added plants, and three treated wood plants, with locations in Quebec and Ontario. Following the transaction, the company will employ approximately 995 people.
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