VANCOUVER, BC - International Forest Products (Interfor) has completed its acquisition of Rayonier's Wood Products Business in the southern United States.
The acquisition, finalized March 1, includes Rayonier's three sawmills located in central Georgia with a combined annual capacity of 360 million board feet. In late January Interfor announced its intention to purchase Rayonier's Wood Products Business for $80 million. Interfor also agreed to hire all of the current employees as part of the transaction.
“The acquisit ion of Rayonier’s Wood Products Business is a significant strategic move for Interfor,” company President and CEO DuncanDavies said in a statement. “In addition to providing a footprint in the U.S. South the acquisition increases Interfor’s annual production capacity to more than 2 billion board feet and broadens our product base to include southern yellow pine.”
With the acquisition, Interfor's operations now include 12 sawmills in British Columbia, Georgia, Oregon and Washington.
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