VANCOUVER, B.C. - Western Forest Products Inc. announced it will acquire Hampton Lumber Mills-Washington Inc.'s lumber processing and distribution center in Arlington, Washington for approximately $9 million. The sale is expected to close in January 2018.
This will be the Canadian lumber producer's first U.S. operation. The acquisition will also help "to mitigate" the softwood duties assessed on company products sold into the United States, said Western President and CEO Don Demens.
“This acquisition is a natural fit for Western as it allows us to increase the production of targeted, finished products while also providing a centralized warehousing and distribution center to more effectively service our selected U.S. customers,” Demens said. “This asset in Washington State also strengthens our global competitiveness by positioning Western to mitigate the damaging effects of duties on our products destined for the U.S. market.”
Based in Vancouver, British Columbia, Western Forest Product (TSX:WEF) has an annual available harvest of approximately 6.1 million cubic meters of timber and a lumber capacity in excess of 1.1 billion board feet, from seven sawmills and one remanufacturing plant in British Columbia. The company's products are sold worldwide.