West Fraser, a diversified wood products company, agreed to acquire an oriented strand board mill from Georgia Pacific, an American pulp and paper company, for $280m. "We look forward to acquiring and upgrading the Allendale mill to make it another component of West Fraser's low-cost production portfolio. Further, the additional production capability will provide greater operational flexibility across our OSB mill portfolio to meet demand growth for our engineered wood products, including for our specialty and value-added products. We have the leadership, people and know-how to execute on the capital and upgrade plan for this mill and expect to be ready for a restart within nine months of the acquisition closing based on current demand conditions," Ray Ferris, West Fraser President and CEO.