Resolute Completes Acquisition of Three U.S. Sawmills
Resolute Forest Products Inc. (RFP)
US:NYSE Investor Relations:
resolutefp.com/investors
Company Research
Source: PR Newswire
US $ MONTREAL, Feb. 3, 2020 /PRNewswire/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced that, on February 1, 2020, it completed the previously disclosed acquisition of Conifex Timber Inc.'s three sawmills in the U.S. South, pursuant to the terms of the securities purchase agreement dated December 23, 2019. The total purchase price was $163 million, plus working capital, which is estimated at $13 million. The three sawmills, with combined production capacity of 550 million board feet, are located in Cross City (Florida), and Glenwood and El Dorado (Arkansas). The facilities produce construction-grade dimensional lumber and decking products from locally-sourced southern yellow pine for distribution within the United States. "We are pleased to welcome the new employees to Resolute," stated Yves Laflamme, president and chief executive officer. "The acquisition of the U.S. sawmills is the right move, at the right time, for Resolute; it will give us immediate scale
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