Canfor buying Resolute’s El Dorado lumber mill for $73 million

The Magnolia Reporter
May 2, 2024
Category: Business & Politics
Region: United States, US East

Canfor is buying the Resolute El Dorado Inc. lumber manufacturing facility on the Junction City Highway in Union County, south of El Dorado. Canfor said the $73 million acquisition, including working capital, will create synergies and vertical integration opportunities given its fit with Canfor’s existing operations in Union County… and with an anticipated further $50 million in planned upgrades, production capacity is expected to increase to 175 million board feet per year. “The El Dorado mill is an important part of the regional forest ecosystem. Together with Canfor’s adjacent El Dorado Laminating Plant and nearby Urbana Plant, this acquisition aligns with our growth-focused strategy in areas with access to high-quality globally competitive timber supply,” said Lee Goodloe, president, Canfor Southern Pine. …The transaction is expected to close over the next several months and is subject to customary closing conditions. The lumber and decking mill produces 147 million board feet annually. It has 102 employees.

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