Groupe Lebel to purchase N.B. sawmill from Twin Rivers Paper Company
December 6, 2022 By CFI staff
Groupe Lebel has inked a deal with Twin Rivers Paper Company for the purchase of their softwood lumber mill in Plaster Rock, N.B.
The sale includes a long-term supply agreement for the Plaster Rock mill to continue providing Twin Rivers Paper’s pulp and cogeneration operations in Edmundston, N.B., with by-product chips and biomass.
“The decision to sell the lumber operation is aligned with our strategy of investing in and growing our core business of specialty and kraft paper production,” Twin Rivers Paper CFO Tyler Rajeski said in a press release.
“Groupe Lebel has long been a valued supplier to our Edmundston pulp operation and we’re pleased to have found a home for our Plaster Rock team members with a trusted partner. We look forward to expanding our relationship with the completion of this sale,” Rajeski said.
The sale, pending regulatory and provincial review, is expected to close early in the first quarter of 2023.
Rajeski said they are committed to ensuring a smooth transition for Plaster Rock employees, customers and suppliers. “With Groupe Lebel’s extensive sawmill operations experience and a proven record of investing in their assets and driving operational improvements, we’re confident this transaction will positively impact mill employees, business stakeholders, and the community of Plaster Rock,” he said.
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