Jemi Fibre to acquire Aallcann Wood Suppliers

市場: 木材
三月 12, 2015
Mar 13, 2015. /Lesprom Network/. Jemi Fibre Corp. has entered into a letter of intent to acquire all of the issued and outstanding shares of Aallcann Wood Suppliers Inc., as the company said in the press release received by Lesprom Network. 

Aallcann is a post peeling and treatment operation based in Prince Albert, Saskatchewan that produces treated timber products for agricultural markets. It's treatment facility is situated on approximately 180 acres of land and it holds a license for 36,000 cubic meters of Crown annual allowable cut ("AAC").

The letter of intent provides that upon closing of the transaction, Aallcann will have positive net working capital of approximately $500,000 and Jemi Fibre will pay the shareholders of Aallcann $1.6 million. Following closing, Jemi Fibre will also pay the shareholders of Aallcann $10 for each additional cubic meter of AAC secured for up to nine months following closing of the Transaction.

Mike Jenks, Chairman & CEO, commented "This acquisition is a natural extension of our vertical integration strategy and a low-risk opportunity to add scale to our growing wood processing division. Similar to previous acquisitions, we anticipate applying our industry experience and harvesting capabilities to improve profitability and provide an attractive return on investment".

Jemi Fibre is a British Columbia based forest products company.


標籤: Jemi Fibre

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