Conifex Timber Inc. has agreed to sell its Lignum Forest Products subsidiary to CanWel Building Material Group for $11.5 million (USD).

CanWel Building Materials Group Ltd. (TSX:CWX) completed its private placement of $57.5 million in investment vehicles, to fund the acquisition of Honsador, a Hawaii-based building materials seller.

CanWel's acquisition of Jemi Fibre creates Canada's only vertically-integrated building materials distribution company.