Panel data provided by Madison's Canadian Lumber Reporter.

Canfor Buys U.S. Mills

By 250 News

Canfor has signed an agreement with a U.S. company to acquire their shares. The deal worth $205 million dollars (US) is for New South companies, headquartered in Myrtle Beach, South Carolina. It operates three sawmills, two treating plants, a finger joint plant and a European lumber import business. All of their operations are located in North and South Carolina. The annual capacity of New South is 425 million board feet. Its main product is yellow pine.
Two things were not reported in the media release.

One: how much timber will be imported by the company to meet customer’s needs from European lumber interests. The European market does not fall under the countervailing duties now in effect on Canadian lumber in the USA.
Two: It is not known if the company is a part of the US lumber coalition that has fought to have the money paid in duties divided amongst US lumber producers.

New South is a private company that was founded in 1946, with 492 employees, operating four mills, one in Camden S.C., Conway SC., Graham NC, and Marion SC. The company’s capacity is 440 million board feet, with 120 million board feet of treating. The company also operates a fleet of 50 trucks that distributes both lumber and treated wood.

On the international market, the company imports European SPF, European OSB and exports SYP lumber and treated lumber to Japan and China.

Sales based on products, shows the company’s import business, accounts for 46%, Lumber 36% wood treating 15% and other 3%.

The deal has received 80% support from the New South shareholders. 



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