Slocan Forest Products to acquire Uneeda Wood Products.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Sept. 17, 1996-- Mr. I.K. Barber, Chairman, President and Chief Executive Officer of Slocan Forest Products Ltd., announced today that the Company has entered an agreement to acquire Uneeda Wood Products Ltd. The transaction is expected to close on September 30, 1996. Uneeda operates a custom lumber remanufacturing business at Chilliwack in the Fraser Valley Fraser Valley is the section of the Fraser River basin in southwestern British Columbia downstream of the Fraser Canyon. The term is sometimes used to refer to the Fraser Canyon and stretches upstream from there, but in general British Columbian usage the term refers to the stretch of British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography with annual revenues in excess of $7 million. Uneeda's operations include custom planing, detail milling, precision cutting, re-sawing, custom packaging and kiln drying of lumber. Slocan intends to continue to provide a quality custom remanufacturing service to Uneeda's existing customer base and will look to expanding this business. Mr. Barber stated that the acquisition of Uneeda provides Slocan with a well established custom remanufacturing facility and an experienced group of employees. The addition of Uneeda to the Slocan Group will accelerate Slocan's focus on adding value to its own various wood products, particularly through specialty applications and further expanding into engineered wood products. Mr. Barber added that Uneeda will also provide Slocan with an avenue to relocate its lumber volume which Slocan is now constrained con·strain tr.v. con·strained, con·strain·ing, con·strains 1. To compel by physical, moral, or circumstantial force; oblige: felt constrained to object. See Synonyms at force. 2. from shipping to U.S. markets under the Canada - United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Softwood softwood Timber obtained from coniferous trees (mainly of the pine and fir families). With the exception of bald cypress, tamarack, and larch, softwood trees are evergreens. Lumber Agreement. Mr. Barber said that Slocan is confident that making this investment in British Columbia will result in further securing the existing employment in all of Slocan's operations, as well as adding additional jobs as the full potential of the Uneeda acquisition develops. Slocan is responding positively to the provincial government's Jobs Accord policy, Mr. Barber said. Slocan Forest Products Ltd. is an integrated forest products company with an annual capacity of 1.3 billion board feet of lumber, 245 million square feet of plywood (3/8 inch basis), 395 million square feet of oriented strand board Oriented strand board, or OSB, or waferboard, or Sterling board (UK), is an engineered wood product formed by layering strands (flakes) of wood in specific orientations. (3/8 inch basis), 770,000 bone dry units of wood chips, 220,000 tonnes of chemi-thermo mechanical pulp and 105,000 tonnes of newsprint newsprint low grade paper used for newspapers. Old newspapers are fed to cattle as an alternative roughage and may occasionally be ingested by dogs. Significant amounts of lead are accumulated in tissues; no cases of poisoning have been recorded in cattle, though it has been and specialty papers, and employs in excess of 4,000 employees and contractors. CONTACT: Slocan Forest Products Ltd., Mr. I.K. (Ike) Barber, 604/278-7311 Mr. R. D. Price, 604/278-7311 |
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