VANCOUVER, BC - International Forest Products Limited says it will formally change its name to Interfor (TSX: IFP.A). Shareholders will vote May 6 to formalize the name change to Interfor, which has been its trade name for several years. It would chane its ticker symbol to IFP.
“The change will provide a direct link to our traditional trade name and build on the successful rebranding efforts,” said CEO Duncan Davies. The new name is also consistent with Interfor's U.S. subsidiary branding, which now account for more than 50% of production. Interfor plans to change its share voting procedure as well.
Interfor plans to open an office in Peachtree City, GA near Atlanta, as a hub for its operations in the Southeast U.S., following its recent acquisition of Tolleson Lumber Co. in Perry, GA. That deal increased Interfor’s total lumber production capacity to 2.6 billion board feet, making it one of the top five lumber producers in North America. Also in 2013, Interfor acquired Rayonier’s Wood Products Business in March and the sawmilling assets of Keadle Lumber Enterprises in July.
In Georgia, Interfor employs 800, and is the largest lumber producer in the state, producing 880 million board feet at mills in Baxley, Swainsboro, Eatonton, Thomaston, and Perry and Preston, following the Tolleson Lumber acquisition.
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