VANCOUVER, B.C. - Interfor (TSX:IFP) says it completed the sale of its former sawmill in Tacoma, for US$32.4 million. Net cash proceeds from the sale of the property are estimated to be US$21 million after taking into account transaction costs, potential post-closing adjustments and the US$10 million payment to be made to Simpson Lumber Company. The net proceeds will be used to further reduce net debt.
Interfor has annual production capacity of approximately 3 billion board feet. It acquired the mill along with three others in 2015. http://www.interfor.com
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