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Bullboard - Stock Discussion Forum Interfor Corp T.IFP

Alternate Symbol(s):  IFSPF

Interfor Corporation is a Canada-based forest products company. The Company and its subsidiaries produce wood products in Canada and the United States for sale to markets around the world. It operates through the solid wood products segment. The Company’s product categories include Dimension Lumber, Specialty Lumber and Engineered Wood Products. Its products include Spruce-Pine-Fir, Douglas Fir... see more

TSX:IFP - Post Discussion

Interfor Corp > Interfor to Sell Acorn Specialty Sawmill in British Columbia
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Post by Betteryear2 on Apr 12, 2022 8:10pm

Interfor to Sell Acorn Specialty Sawmill in British Columbia

BURNABY, British Columbia, April 12, 2022 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced today that it has reached an agreement to sell its Acorn specialty sawmill located near Vancouver, British Columbia (“B.C.”) (the “Mill”) to an affiliate of San Industries Ltd. (the “San Group”).
 

Comment by cfliesser on Apr 12, 2022 8:48pm
I wonder why they are selling it?
Comment by JohnnyTSX on Apr 13, 2022 1:32am
My guess is the same reason many larger players are divesting in British Columbia and investing in plants elsewhere... Tough regulatory environment and unfriendly resource sector politics.
Comment by dosperros on Apr 13, 2022 7:43am
Yes, it's not much guesswork either.  The BC Coast has been the od man out for years now -- it's a complex, high cost environment.  It has no scale, plus is the concentration of the issues you mentioned.  They are not leaving the BC Interior as Adams Lake is world class (e.g. has a capacity 3x this Acorn outfit's nameplate but 7x its actual output) and Castlegar is ...more  
Comment by SleepingGiant64 on Apr 13, 2022 9:15am
Like others said, they're definitely trying to cut the portfolio weight of BC. On the price, I would hate to give that up at a lumber multiple. Looking a Google Maps, that is a PRIME piece of real estate. 30 acres of prime industrial with direct river and highway access right in Vancouver has to be worth more than $20-$40m.
Comment by dosperros on Apr 13, 2022 9:32am
I'd assumed it was owned land too, but I noticed in the presser it's actually leased land. I had a scan for the coastal timber.  I could only find TFL 45 at an AAC of 140,000 M3.  Still this would be able to transact for maybe $150/M3 roughly so when/if they sell that they could pick up about what you thought for the value of the YVR real estate.  Not terrible.  I don& ...more