Conifex Timber, publicly listed softwood forest products company operating in the Northern Interior region of British Columbia, Canada, announced that it has closed its previously announced transaction with Hampton Lumber for the sale of its Fort St. James sawmill and associated forest license.
According to the announcement, the consideration for the transaction, following certain customary adjustments, was approximately $38.6 million.
“We would like to thank the Minister and the Province of British Columbia for recognizing the positive benefits that the sale and planned rebuild by Hampton Lumber will provide to employees, the community and local First Nations who are dependent on a sustainable lumber manufacturing operation at the site”, says Ken Shields, Conifex’s Chair and CEO.
Closing is expected to be completed soon, subject to completion of remaining customary closing conditions.
Source: Woodbizforum