Maibec to acquire US mill
By CNW Telbec
Sept. 25, 2014, Lévis - An agreement was signed last week between manufacturing company maibec Inc. of Lévis, Quebec and Fraser Timber LLC for Maibec's purchase of the assets of the Masardis Maine lumber mill. The mill employs approximately 135 people and can produce over 100 million board feet of softwood lumber annually. The mill's lumber is sold to the U.S. market.
"This acquisition gives Maibec its first place of business in the United States, and represents an important milestone in our growth," said François Tardif, President of Maibec. "Among other things, the mill's geographic location will allow us to improve our access to key US market."
Over the next several weeks, Maibec and Fraser will work diligently to complete all necessary permit transfers and meet all conditions. The transaction is expected to close before the end of the calendar year. In the interim, Fraser will continue to provide the same excellent service it has provided its customers for the past 40 years.
Earlier this year, Maibec invested $20 million in upgrading its own softwood lumber mill in St-Pamphile with new high-tech, high-performance equipment. "Given the current U.S. economic recovery, these investments could not have come at a better time" added Tardif.
Over the years, Maibec's unique expertise has made it the brand of reference in its respective markets. It is especially well-known for its continuous product innovation and progressive marketing across all of its business segments, most particularly in the solid wood siding and white cedar shingle segments. Tardif says Maibec's diversified activities played a key role in enabling the company to successfully weather the last economic crisis.
About Maibec inc.
Maibec inc. is a Quebec-based family business active in the wood processing sector since 1946 and has a workforce of 700 employees. Its head office is located in Lévis, while its production units are located primarily in St-Pamphile de l'Islet and Saint-Théophile de Beauce. The company has chosen the Fonds de solidarité FTQ as a strategic financial partner to pursue its growth.