Canadian forest products company Canfor Corp. announced Monday that it has entered into an agreement to purchase El Dorado-based Anthony Forest Products Co. for $93.5 million, a Canfor news release said.
Anthony Forest Products operates a lumber-producing mill in Urbana in Union County and wood chip mills in Plain Dealing, La., and Troup, Texas, according to the news release. The company also operates laminating plants in El Dorado and in Washington, Ga. Anthony Forest Products and EACOM Timber Corp. of Montreal jointly own and operate an I-joist manufacturing plant in Sault Ste. Marie, Ontario.
"We are proud to add AFP to our family of Canfor operations in the ... South," Canfor President and Chief Executive Officer Don Kayne said in the news release. "AFP has a reputation for quality products and excellent customer service and with facilities located in abundant and high quality [fiber] supply areas in Arkansas, Louisiana and Georgia, this partnership adds exceptional value to our growing [Southern] presence."
Company officials expect the transaction to close in the fourth quarter of 2015.
Contacted Monday night, Aubra Anthony Jr., president and CEO of Anthony Forest Products, said it would be "business as usual" for Anthony Forest Products mills and plants.
"Everything goes just exactly as it's been going," he said.
Canfor is based in Vancouver, British Columbia, with interests in British Columbia and Alberta in Canada, and North and South Carolina, Alabama, Georgia and Mississippi in the U.S.
Business on 09/29/2015