GreenFirst Acquires Rayonier Mills

GreenFirst Forest Products Inc. has closed its purchase of a portfolio of forest and paper product assets from Rayonier Advanced Materials Inc. subsidiaries Rayonier A.M. Canada G.P., Rayonier A.M. Canada Industries Inc., and Rayonier A.M. Canada Enterprises Inc. (collectively RYAM). GreenFirst says the acquisition will establish the company as a significant player in the Canadian forest products industry. The purchased assets include lumber mills in Chapleau, Cochrane, Hearst, and Kapuskasing, ON; and Béarn and La Sarre, QC; as well as a newsprint mill in Kapuskasing, ON. The purchased assets have an annual production capacity of 755 MMFbm (million board feet) and are capable of producing a wide range of forest products used in residential and commercial construction, including SPF lumber, wood chips, and by-products.