Canfor completes first phase purchase of Elliott Sawmilling Co Inc
Canada-headed forest industry major Canfor Corporation (Canfor) has recently announced that it has completed the first phase purchase of 49 percent of Elliott Sawmilling Company Inc. (Elliott), a Southern Yellow Pine (SYP) lumber producer in South Carolina (SC), United States (US). The balance will be acquired in one year.
In November 2018, Canfor announced that it has entered into an agreement to acquire US-based Elliott Sawmilling Co., Inc. (Elliott) for a purchase price of US$110 million, which includes normalised working capital.
The privately held company has an annual production capacity in excess of 210 million board feet (≈ 496 000 m3) and the sawmill consists of both large and small log lines.