Conifex acquires Lignum Forest Products
Conifex will fund the $4 million deal from its existing cash
VANCOUVER—Conifex Timber Inc. has agreed to acquire Lignum Forest Products LLP, a private partnership which operates a lumber marketing and distribution business.
Based in British Columbia, Lignum provides Conifex extensive reach in the North American market through a network of established inventory locations.
Conifex will fund the $4 million deal from its existing cash. Hans Thur, Senior Vice-President of Conifex Timber Inc., will continue to oversee Lignum.
“We believe that this Transaction, including the retention of Lignum’s experienced personnel, will further advance our marketing and logistics capability while concurrently reducing overall marketing costs,” said Ken Shields, Conifex CEO. “We expect to significantly extend our market reach, particularly in the improving U.S. market, through enhanced access to complementary customers and product lines.”