Arbec Forest Products, a leading manufacturer of OSB panels in Canada and Northeastern America, announced their acquisition of fellow Québec-based company, Forex OSB mill. The purchase allows Arbec to consolidate its position in the Canadian forest sector which currently manufactures almost five percent of the OSB panel production across North America. This acquisition is another addition to the vertically integrated company’s portfolio of strategic partnerships in the wood industry as a whole.
“We are very proud to welcome the employees of the Forex plant in Amos to the great Arbec family. Forex is an innovative and efficient family business that, like us, pays special attention to raw materials and the environment. We are convinced that this acquisition will reinforce our commitment to excellence in manufacturing, innovation and sustainable development,” said Joey Saputo, Arbec president. Forex’s mill currently employs around 140 people and will join Arbec’s OSB plants in Saint-Georges-de-Champlain, Québec, and Miramichi, New Brunswick.
Acquisition Designed to Reinforce Commitment to Manufacturing
“We are pleased that Arbec will continue to operate the Amos plant and maintain jobs and economic benefits in the region. I would like to thank the employees, customers and suppliers who have supported the Cossette family over the past 8 years in this project. Their commitment and dedication have been invaluable to the success of the company, and we are confident that this transition will also be successful,” noted Yolaine Rousseau, executive vice president of Forex. The OSB company also has plants in Amos, Ferme-Neuve, and Mont-Laurier which operate synergistically to maximize their raw substances and manufacture OSB products.
“The Amos Forex mill, an important part of the Abitibi regional forest ecosystem, fits perfectly into our development plan based on acquisitions and regional and national partnerships. We want to support local teams in continuing to innovate and optimize the mill while securing the direct and indirect jobs it generates. This acquisition will also allow us to increase the products offered to our customers,” explained Serge Mercier, CPA and vice president of Finance and Business Development at Arbec.
Arbec is a leader in the Québec forest and wood industry and made a notable name for itself as a specialist in OSB. Following this Forex plant acquisition, Arbec will employ a total of 450 people with its plants in Québec and New Brunswick.