Chantiers Chibougamau completed the acquisition of two sawmills and forestry operations from GreenFirst for $90m.

Chantiers Chibougamau, a forestry company, completed the acquisition of La Sarre and Béarn sawmills and Abitibi and Témiscamingue forestry operations from GreenFirst, a forest-first business, focused on sustainable forest management and lumber production, for $90m. “This divestiture represents a unique opportunity to unlock shareholder value and concentrate on our operations in Ontario, where we will continue to focus and invest. We thank all of our dedicated Québec-based employees for their longstanding effort and support. We are committed to ensuring a smooth transition to the family-based Chantiers Chibougamau. This transaction is a win-win for both Chantiers Chibougamau and GreenFirst as it strengthens the alignment of each company’s primary focus and growth strategies," Paul Rivett, GreenFirst Chairman.