Pastway’s pressure treating and planing operations are located in Combermere, Ontario. As a result of this acquisition, CanWel’s assets now include six operating treating plants, three planer facilities and 18 distribution centres strategically located across Canada. The purchase price for the acquisition will be satisfied fully from the Company’s existing credit facilities.
“The addition of Pastway to our existing platform complements and further solidifies our position and service offering in the pressure treating and planing marketplace, and is expected to be accretive to CanWel’s earnings as early as the current fiscal year,” noted Amar Doman, Chairman and CEO of CanWel. “We are very excited to have expanded CanWel’s footprint and production capabilities in Ontario, and look forward to working with our new colleagues and facilities."
Pastway’s early roots as a sawmill on the Madawaska River date back to the early 1930s. In 1979, Pastway became the first custom milling operation in the region, and grew from three employees to over 50. Since then, Pastway has steadily increased production capabilities and services.
CanWel Building Materials is one of Canada’s largest national distributors in the building materials and related products sector, operating distribution centres coast to coast in all major cities and strategic locations across Canada. CanWel distributes a wide range of building materials, lumber, hardware and renovation products.
