VANCOUVER, BC - West Fraser continues its acquisition spree with an agreement to purchase Bibler Brothers Lumber's sawmill and lumber manufacturing operations in Russellville, AR. This follows on the heels of the company's acquisition of High Prairie, AB-based Buchanan Lumber sawmill from Gordon Buchanan Enterprises Ltd, and last month's purchase of Travis Lumber Co.'s sawmill and lumber manufacturing operations in Mansfield, AR.
Details of the transactions were not released.
Bibler Brothers produced approximately 136 million board feet of lumber in 2013 and in excess of 160 million board feet in 2005. Upon completion of the Bibler acquisition, West Fraser will own four sawmills in Arkansas, as well as mills in Texas and Louisiana.
West Fraser (TSX:WFT) said the acquisition of Alberta-based Buchanan will complement its existing operations in the area. The lumber and composite panel producer also said it plans to expand the annual capacity at the Buchanan facility from the current 110 million board feet to approximately 175 million board feet. The acquisition also includes timber rights of an annual allowable harvest of approximately 430,000 cubic meters of coniferous timber and 21,000 cubic meters of deciduous timber.
"We are pleased to be growing and welcoming new employees to West Fraser in the U.S. South and in western Canada," said West Fraser's President and CEO Ted Seraphim. "We expect that these acquisitions will enhance our current operations in Alberta and Arkansas and will further position West Fraser to take advantage of the expected strengthening of our lumber markets."
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