Canfor Corporation announces it has entered into an agreement to purchase Elliott Sawmilling Co., Inc. located in Estill, South Carolina (“Elliott”) for a purchase price of US$110 million, which includes normalized working capital. The purchase price represents a 4.3 times EBITDA multiple based on Elliott’s twelve months trailing EBITDA. The transaction will be completed in two phases with 49% being acquired on closing and 51% being acquired one year later. Elliott has a production capacity in excess of 210 million board feet and the sawmill consists of both large and small log lines. Click read more below for additional detail.
The Nicolet Mill was honored on June 28, 2018 – receiving Focus on Energy’s “Energy Efficiency Excellence Award” for its commitment to reducing energy waste. Nicolet has been active in identifying and implementing energy reduction projects, and as part of the Focus on Energy grant program, has worked with Wisconsin Public Service (WPS) and Focus on Energy on assessments of their processes, and has integrated many energy-saving changes based on the assessment results. Recent energy efficiency projects at Nicolet include LED lighting upgrades, steam system management upgrades, and installing more efficient agitators and pulper rotors. The Nicolet Mill was the only industrial company to receive this honor this year. Representatives from the Public Service Commission, Focus on Energy, WPS, and Wisconsin Assembly Representative Andre Jacque were on-hand to recognize the Nicolet Team Members.