Thursday, October 15, 2015
West Fraser announced that it has entered into an agreement to acquire Manning Diversified Forest Products Ltd. (“Manning Diversified”) which has sawmill operations located in Manning, Alberta and related timber harvesting rights. The acquisition is scheduled to be completed before the end of October, 2015.
“We are pleased to welcome Manning Diversified and its 120 employees to the West Fraser family of mills in Alberta,” said West Fraser’s President and CEO Ted Seraphi.
The sawmill operated at the site since 1993 and has been producing approximately 100 million board feet of lumber annually. West Fraser plans to adjust current operations and expand annual production capacity to approximately 130 million board feet. The timber rights acquired have a current operational annual allowable harvest of approximately 440,000 m3 of coniferous timber. West Fraser expects to provide additional information concerning the acquisition as part of its announcement of its third quarter results which is currently scheduled for October 26, 2015.
West Fraser is diversified wood products company producing lumber, LVL, MDF, plywood, pulp, newsprint, wood chips and energy with facilities in western Canada and the Southern United States.