Interfor Completes Acquisition of Rayonier's Wood Products Business
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International Forest Products Limited (Interfor), Vancouver, B.C., Canada, has completed the acquisition of Rayonier's (Jacksonville, Fla., USA) Wood Products Business in the U.S. South, headquartered in Baxley, Ga. The $80 million acquisition includes three sawmills in Baxley, Swainsboro, and Eatonton, Ga., with a combined annual capacity of 360 million board feet of southern pine dimension lumber. As part of the transaction, Interfor agreed to hire all of the business' current employees.
"The acquisition of Rayonier''s Wood Products Business is a significant strategic move for Interfor," said Duncan Davies, Interfor''s president and CEO. "In addition to providing a footprint in the U.S. South, the acquisition increases Interfor's annual production capacity to more than 2 billion board feet and broadens our product base to include Southern Yellow Pine. I would like to thank the people involved from both Rayonier and Interfor who worked so hard to complete this transaction in such a short period of time," said Davies. "We are looking forward to working with Rayonier to build mutual value as we move ahead."
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