VANCOUVER, BC, Sept. 6- In a significant development for the secondary wood manufacturing industry, West Fraser Timber Co. Ltd. has announced its acquisition of Spray Lake Sawmills in Cochrane, Alberta. The deal, valued at CDN$140 million, is expected to be completed later this year, pending Canadian regulatory approvals and customary conditions.
Spray Lake Sawmills, a long-standing and iconic private company in Cochrane with an 80-year history and over 200 employees, will now become a part of West Fraser Timber, a diversified wood products company with a strong presence in Canada, the United States, the United Kingdom, and Europe.
The acquisition brings several notable points to the forefront:
- Strategic Expansion: West Fraser’s acquisition of Spray Lake Sawmills signifies a strategic move to expand its presence in Southern Alberta and strengthen its position in the Canadian treated wood business.
- Securing the Future: Spray Lake Sawmills’ president, Barry Mjolsness, expressed confidence that the transaction secures the long-term future of the company’s operations. This acquisition is expected to provide stability, supporting continued investment in the business and the surrounding communities.
- Enhanced Security: With West Fraser being a larger, international corporation, the move is likely to provide increased job security for employees and offer stability in a changing industry landscape.
- Potential Synergies: The diversity of Spray Lake’s product mix and West Fraser’s extensive resources are expected to create synergies, making it easier for both companies to navigate market fluctuations.
It remains to be seen whether this acquisition will result in a change of name for Spray Lake Sawmills or impact the recently renamed SLS Centre. However, the prevailing sentiment at the facility is one of optimism and excitement about the opportunities that lie ahead.
This acquisition marks a significant moment in the wood manufacturing industry, and stakeholders will be watching closely as West Fraser and Spray Lake Sawmills embark on this new chapter together.