By Curtis Galbraith

Forestry Business

Canfor reaches deal with Millar Western, Fox Creek and Whitecourt mills included

Dec 16, 2021 | 5:51 PM

Canfor says it has a deal with Millar Western Forest Products to buy three Alberta mills.

The $420 million transaction includes sawmills in Fox Creek, Whitecourt and another mill in Acheson.

The Fox Creek mill had burned down in 2007 but was rebuilt and re-opened in 2011.

“The acquisition of Millar Western’s solid wood operations, including the highly successful Spruceland Millworks facility, is well-aligned with Canfor’s strategy to grow and diversify our global operating platform.”

“We are excited to expand our Alberta operations to meet the growing demand of our customers for high-quality and sustainable wood products,” said Don Kayne, President & CEO, Canfor in a news release from the company announcing the sale agreement. “We look forward to welcoming Millar Western’s dedicated and skilled employees to the Canfor team.”

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Canfor says the deal adds 630 million board feet of production to its operation.

The deal is expected to close in the first quarter of 2022 depending on conditions that include approval by regulators.