Monday, December 5, 2016
INTERFOR CORPORATION has announced that it has completed the final step in the monetization of its former sawmill in Tacoma, Washington, with the closing of the sale of the Tacoma sawmill property for gross proceeds of 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 is a growth-oriented lumber company with operations in Canada and the United States. The Company has annual production capacity of approximately 3 billion board feet and offers one of the most diverse lines of lumber products to customers around the world.