Feb 12, 2008. /Lesprom.com/. Pope & Talbot announced that it has agreed to sell its Fort St. James and Midway sawmills. The Sinar Mas Group has agreed to purchase the Fort St. James Sawmill for approximately $6 million. Fox Lumber Sales, Inc. has agreed to purchase the Midway Sawmill for approximately $750 thousand.
Pope & Talbot announces agreements to sell Fort St. James and Midway Sawmills
Feb 12, 2008. /Lesprom.com/. Pope & Talbot announced that it has agreed to sell its Fort St. James and Midway sawmills. The Sinar Mas Group has agreed to purchase the Fort St. James Sawmill for approximately $6 million. Fox Lumber Sales, Inc. has agreed to purchase the Midway Sawmill for approximately $750 thousand.
The sales are subject to approval by the US Bankruptcy Court and the Canadian Court, as well as customary regulatory approvals in Canada and the United States, and Pope & Talbot expects to receive such approvals and close the transactions in the second quarter of 2008.
Pope & Talbot is a pulp and wood products business. Markets for the Company's products include the US, Europe, Canada, South America and the Pacific Rim.
Sinar Mas Group is a global enterprise with significant interests in pulp and paper in Indonesia, China and elsewhere. Sinar Mas is the largest producer of pulp and paper in Asia and is one of the top 5 in the world.
Fox Lumber Sales, Inc. is a full service lumber manufacturing business.
