Canfor completes first phase purchase of U.S. sawmill
Canfor Corporation is halfway towards purchase of an American sawmiller.
In a news release issued Friday, the company said it now owns 49 per cent of Elliott Sawmilling Co. Inc., based in Estill, South Carolina, with the remaining 51 per cent to be acquired in a year.
Canfor said in November it had reached an agreement to buy the operation for $110 million.
Elliott has a production capacity in excess of 210 million board feet and the sawmill consists of both large and small log lines.