Canfor completes $60 million acquisition of Tembec's BC southern interior wood products assets

On March 23, 2012, Canfor Corporation, a leading Vancouver-based integrated forest products company, completed its acquisition of the Tembec Industries Ltd. ("Tembec") southern British Columbia interior wood products assets consisting of the Elko and Canal Flats sawmills and approximately 1.1 million cubic metres of combined Crown, private land and contract annual allowable cut. The transaction includes a long term residual fibre supply agreement for Tembec's Skookumchuck mill and an agreement for the management of private forest land.

Davis LLP represented Canfor Corporation in this transaction with a team led by Brian Hiebert that included Kate Bake-Paterson and Megan Filmer (corporate/commercial and due diligence leaders), Garry Mancell and Angeline Nyce, (forestry, corporate/commercial, and due diligence), Lana Finney (environment), Richard Press (labour and employment), Kevin Wright , Jonathan Gilhen and Heather Burgi (competition), Mike Mjanes (real estate), Danielle Jarvis (corporate/commercial and environment), Paul Lailey and Dennis Yee (tax), Anelize Aguiar and Stephanie Walsh (due diligence and closing) and Shawn Hatch (pensions and benefits).