A new player in northwestern Ontario’s forestry industry.
West Fraser Timber is proposing to acquire Norbord in a deal worth $4-billion Canadian. Norbord owns the oriented strand board (OSB) mill in Barwick, west of Fort Frances.
Norbord’s president Peter Wijnbergen believes it’ll be good for both companies.
“Joining with West Fraser will unlock significant growth opportunities in our core North American market, while providing the scale that is increasingly important to serve customers in our sector,” he points out.
West Fraser President Raymond Ferris says they’re a lot alike.
“I believe our asset quality and geographic and product diversity is unparalleled. However what I’m most excited about is the combination of two highly-skilled and recognized high-performance teams,” Ferris explains.
Norbord shareholders will own 44% of West Fraser under the deal.
