El Dorado, Arkansas - Anthony Forest Products Company is pleased to join with Canfor Corporation (TSX: CFP) of Vancouver, Canada in announcing that we have entered into an agreement for the purchase of our Company by Canfor. This agreement includes five manufacturing facilities in the US South as well as a 50% joint venture ownership in Anthony Eacom, Inc., which operates a wood I-joist plant in Sault Ste. Marie, Ontario. The transaction is expected to close in the fourth quarter of 2015.
Anthony Forest Products will become an integral part of Canfor's southern forest products business. As part of Canfor, Anthony Forest Products will continue to operate with the same management, sales and manufacturing teams who loyally serve our customers today. Canfor's existing southern yellow pine operations have been a quality lumber supply partner for our glulam plants for over ten years, and this and other synergies will support our future growth. We look forward to business as usual with all of our valued employees, customers, suppliers, and other business partners.
"We are proud to add Anthony Forest Products Company to our family of Canfor Operations in the US South," said Canfor Corporation President and CEO Don Kayne. "Anthony Forest Products has a reputation for high quality products and excellent customer service, and with facilities located in abundant and high quality fiber supply areas in Arkansas, Louisiana, and Georgia, this partnership adds exceptional value to our growing US South presence."
Aubra Anthony, President and CEO of Anthony Forest Products Company added, "We are truly excited about this partnership with Canfor, a progressive leader in our industry. It is a good and comfortable fit."
Raymond James acted as financial advisor to Anthony Forest Products for the transaction.
About Anthony Forest
Anthony Forest Products Company is an integrated forest products business incorporated in 1965. The Company operates a southern pine lumber producing mill in Urbana, Arkansas; and wood chips mills in Plain Dealing, Louisiana and Troup, Texas. The Company also operates engineered wood laminating plants in El Dorado, Arkansas and Washington, Georgia. Anthony Forest Products Company and EACOM Timber Corporation of Montreal, Canada jointly own and operate an I-Joist manufacturing plant in Sault Ste. Marie, Ontario. To learn more, visit www.AnthonyForest.com.
Contact: Corinne Stavness