Canfor Corp. (CFP.TO) said Friday that it has entered into a phased purchase agreement with Scotch & Gulf Lumber, LLC.
Headquartered in Mobile, Alabama, Scotch Gulf's primary operations consist of three sawmills in Mobile, Fulton and Jackson, Alabama, producing Southern Pine dimension lumber products.
The deal involves the phased purchase by Canfor of Scotch Gulf over a three-year period, at an aggregate purchase price, excluding working capital, of $80 million. Canfor's initial 25% interest will increase over the three year period to 50% after 18 months and 100% at the end of the term.
The deal is expected to close in the third quarter of 2013.
For comments and feedback contact: editorial@rttnews.com
Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.