Canadian lumber giant Interfor Corp said on Monday it will buy Chaleur Forest Products for C$325 million ($236.40 million), as it looks to boost presence in the New Brunswick province. The deal comes as lumber prices slide from soaring levels touched earlier this year, when Russia banned forestry product exports to the West — a retaliation against Western sanctions imposed over it for invading Ukraine. “This acquisition is consistent with Interfor’s growth-focused strategy as a pure-play lumber producer and builds upon our recent expansion into Eastern Canada with ...
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