Conifex wins Pope & Talbot bid
Jul 10, 2008. /Lesprom.com/. Conifex successfully bid on Pope & Talbot's Fort St. James sawmill. Conifex paid $12.8 million for the mill, one of three facilities being sold via a BC Supreme Court receivership. The two remaining facilities, the Harmac and Mackenzie pulp mills, have not been sold.
Jul 10, 2008. /Lesprom.com/. Conifex successfully bid on Pope & Talbot's Fort St. James sawmill. Conifex, an alliance of former industry players with access to capital pools, overtook Asia Pulp & Paper's bid on the bankrupt facility.
According to a report by the Vancouver Sun, Conifex paid $12.8 million for the mill, one of three facilities being sold via a BC Supreme Court receivership. The two remaining facilities, the Harmac and Mackenzie pulp mills, have not been sold. The Sun further reported that Conifex CEO Ken Shields said his company is interested in the possibility of gobbling up more mills.
Pope & Talbot purchased the mill from Canfor for $39 million in 2004.
In January 2007, a $285 million deal that would have seen Conifex purchase Domtar's forest products business fell through.