Canfor completes Elliott sawmill acquisition
June 1, 2020 | 3:56 pm CDT
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Photo By Elliott Sawmilling website

VANCOUVER, BC — Canfor Corp. has completed its acquisition of  Elliott Sawmilling Co. Inc. located in Estill, South Carolina.

The $110 million USD acquisition was announced in November 2018, with completion to take place in two phases, 49 percent being acquired at closing and 51 percent acquired one year later. Elliott adds more than 210 million board feet of production capacity to Canfor's holdings, the company said.

The completion of the Elliott acquisition comes less than one month after Canfor announced it would close its Isle Pierre sawmill, located near Prince George, British Columbia. The closure is expected to take effect in the third quarter of 2020 following an orderly wind-down of operations. According to Canfor, the closure is a result of an insufficient supply of economically viable timber following the Mountain Pine Beetle epidemic, coupled with the major global economic downturn as a result of the COVID-19 pandemic. Based on the current one-shift operation,  Isle  Pierre sawmill has an annual production capacity of approximately 120 million board feet.

Headquartered in Vancouver, British Columbia, Canfor (TSX:CFP) is an integrated forest products company with interests in British Columbia, Alberta, North and South Carolina, Alabama, Georgia, Mississippi and Arkansas, as well as in Sweden with its majority acquisition of Vida Group.

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Karen Koenig | Editor

Karen M. Koenig has more than 30 years of experience in the woodworking industry, including visits to wood products manufacturing facilities throughout North America, Europe and Asia. As editor of special publications under the Woodworking Network brand, including the Red Book Best Practices resource guide and website, Karen’s responsibilities include writing, editing and coordinating of editorial content. She is also a contributor to FDMC and other Woodworking Network online and print media owned by CCI Media. She can be reached at karen.koenig@woodworkingnetwork.com