Arbec Forest Products Announces the Acquisition of the Forex OSB Mill in Amos
Arbec Forest Products Inc., a major Québec producer of OSB panels, is pleased to announce the acquisition of the Forex OSB mill located in Amos (Québec). Arbec is thus consolidating its position in the Canadian forest industry and now manufactures approximately 5% of the OSB production in North America.
“We are very proud to welcome the employees of the Forex plant in Amos to the great Arbec family. Forex is an innovative and efficient family business that, like us, pays special attention to raw materials and the environment. We are convinced that this acquisition will reinforce our commitment to excellence in manufacturing, innovation and sustainable development,” said Joey Saputo, President of Arbec.
“We are pleased that Arbec will continue to operate the Amos plant and maintain jobs and economic benefits in the region. I would like to thank the employees, customers and suppliers who have supported the Cossette family over the past 8 years in this project. Their commitment and dedication have been invaluable to the success of the company, and we are confident that this transition will also be successful,” said Yolaine Rousseau, Executive Vice President of Forex Inc.
“The Amos Forex mill, an important part of the Abitibi regional forest ecosystem, fits perfectly into our development plan based on acquisitions and regional and national partnerships. We want to support local teams in continuing to innovate and optimize the mill while securing the direct and indirect jobs it generates. This acquisition will also allow us to increase the products offered to our customers,” said Serge Mercier, CPA, Vice President Finance and Business Development of Arbec.
Forex’s Amos plant employs 140 people and joins Arbec’s OSB plants in Saint-Georges-de-Champlain, Québec and Miramichi, New Brunswick.
KPMG Corporate Finance Inc. acted as financial advisor and Miller Thomson LLP as legal advisor to Arbec Forest Products in connection with the transaction.
About Arbec Forest Products Inc.
Arbec Forest Products Inc. is a major player in the Québec Forest industry specializing in OSB and is committed to providing its customers with high-quality, environmentally friendly and sustainable products. Following the acquisition of the Forex OSB mill in Amos, Arbec employs approximately 450 people with its plants operating in Québec and New Brunswick. Through strategic partnerships, notably with Rémabec and Arbec Lumber, Arbec is a vertically integrated company, from forestry operations to wood processing to marketing. Founded in 1988, Rémabec, the largest private forestry company in Québec, employs approximately 1,150 people, including more than 700 directly through its 50 subsidiaries and its hardwood processing plants. For its part, Arbec Lumber Inc, founded in 2014, operates 7 wood processing plants in the Mauricie, Lac-St-Jean and North Shore regions of Québec and has approximately 800 employees. Arbec is also a partner in Bioénergie AE Côte-Nord Canada Inc, a residual forest biomass-based biofuel production plant located in Port-Cartier. This plant, the only one of its kind in Quebec, converts residual forest biomass into renewable biofuel. This biofuel replaces fossil products in industrial applications and allows significant greenhouse gas reductions. Arbec Forest Products Inc. is a division of Free 2 Be Holdings Inc., holding company of Québec businessman Joey Saputo.
Source: Arbec Forest Products Inc.