Two of Ontario's largest lumber firms combine in acquisition
August 25, 2020 | 1:34 pm CDT
BOLTON, Ontario - Ontario-based lumber producer Weston Forest will acquire fellow Ontario-based Monterra Lumber Mills.
Monterra, primarily a remanufacturer of softwood lumber, will continue to be managed by its founder and current president Claudio Tersigni.
“Claudio and I have been friends and have done business together for close to 40 years,” said Weston CEO Rick Ekstein. “He is one of the best lumbermen, and one of the most decent and ethical people I know. He will be a huge asset to our team.”
“Our success is due to our people and our loyal customers,” said Tersigni, “and I know that Weston will provide us with the resources and stability necessary to keep growing our business and provide continued opportunity to our long-term employees.”
It's a big expansion for Weston, who will now operate three facilities in the Toronto area, and one in Michigan. Weston remanufactures and distributes softwood lumber, hardwood lumber, and panel products to the industrial and construction sectors throughout North America.
The acquisition is targeted to close September 30, 2020.
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