Canfor to acquire the solid wood operations and associated tenure of Millar Western Forest Products for $420m.

Canfor, an integrated forest products company, agreed to acquire the solid wood operations and associated tenure of Millar Western Forest Products, a pulp mills company, for $420m. Millar Western’s solid wood operations, located in Alberta, Canada, will add 630m board feet of production capacity and have access to a globally competitive, high-quality timber supply. The assets consist of three well-capitalized operations including two sawmill complexes in Whitecourt and Fox Creek and the high-value, specialty Spruceland Millworks facility in Acheson that is dedicated to serving strategic markets and generates higher, more stable returns.