Interfor has agreed to buy three lumber mills in the Pacific Northwest from bankrupt Crown Pacific Partners.
The C$57.3m purchase, which still needs approval by regulatory bodies and a US judge, would also involve Interfor providing C$16m in working capital for the mills in Oregon and Washington.
The acquisition would increase the company’s lumber capacity to almost 1.3 billion board feet and annual sales by more than C$120m.
Crown Pacific has been negotiating to sell assets since reporting debts of C$547m at the end of 2003.
