Conifex has officially closed its previously announced transaction with Resolute Forest Products for the sale of its U.S. sawmill business, consisting of its El Dorado, Cross City and Glenwood sawmills and related operations. The three sawmills have a combined production capacity of 550 million board feet. The purchase price was $163 million, plus working capital, which is estimated at $13 million, for total consideration of $176 million. Conifex's lumber segment credit facility was repaid in full on closing, says a news release. The balance of the ...
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