By Canadian Press

Canfor buying lumber mill in Arkansas from Domtar affiliate for US$73 million

May 1, 2024 | 8:18 AM

VANCOUVER — Canfor Corp. says it has signed a deal with an affiliate of Domtar Corp. to buy its El Dorado lumber manufacturing facility in Arkansas for US$73 million.

The facility in Union County, Ark., produces dimensional lumber and specialty wood products.

Canfor says it expects production capacity at the mill to increase to 175 million board feet per year after planned upgrades.

The deal came as the forestry company reported a loss of C$64.5 million or 54 cents per diluted share for the quarter ended March 31 compared with a loss of C$142.0 million or C$1.17 cents per diluted share a year earlier.

Sales totalled C$1.38 billion for the quarter compared with $1.39 billion in the same quarter last year.

armed robbery

Knife-wielding man robs south Nanaimo liquor store

7h ago

Shorthanded

Clippers fall short hosting Bulldogs

14h ago

off the schedule

BC Ferries preemptively cancels early Saturday sailings

21h ago

On an adjusted basis, Canfor says it lost 44 cents per diluted share in its latest quarter compared with a loss of C$1.20 per diluted share in the first quarter of 2023.

This report by The Canadian Press was first published May 1, 2024.

Companies in this story: (TSX:CFP)

The Canadian Press