CanWel Building Materials Completes Acquisition of Lignum Forest Products
CanWel Building Materials Group Ltd. (“CanWel” or “the Company”) announced that it has completed the acquisition of Lignum Forest Products LLP (“Lignum”).
Lignum is a well-established brand in the lumber and forestry distribution market in western Canada and the US. The acquisition further solidifies and complements CanWel’s North American distribution capabilities and reach with existing and new customers, through the addition of Lignum’s network of established inventory locations.
“‘We welcome the Lignum team to CanWel. We are proud to have this great company as part of the CanWel family,” noted Amar Doman, Chariman and CEO of CanWel.
The Acquisition is expected to be accretive to CanWel’s fiscal 2019 financial results.
Founded in 1989, CanWel is headquartered in Vancouver, British Columbia and trades on the Toronto Stock Exchange under the symbol CWX and is Canada’s only fully integrated national distributor in the building materials and related products sector. CanWel operates: multiple treating plant and planing facilities in Canada and the United States; distribution centres coast-to-coast in all major cities and strategic locations across Canada; in the United States near Portland, Oregon (commissioning), San Francisco and Los Angeles, California and in 14 locations in the State of Hawaii through its wholly owned Honsador Building Products Group. CanWel distributes a wide range of building materials, lumber, renovation and electrical products. In addition, through its CanWel Fibre division, CanWel operates a vertically integrated forest products company based in Western Canada, operating from British Columbia to Saskatchewan, also servicing the US Pacific Northwest. CanWel owns approximately 136,000 acres of private timberlands, strategic Crown licenses and tenures, log harvesting and trucking operations, several post and pole peeling facilities and two pressure-treated specialty wood production plants and a specialty saw mill.
Ali Mahdavi – Investor Relations – email@example.com – (416) 962-3300
Source: CanWel Building Materials Group Ltd.