Interfor selling Quebec operations with plans to leave the province
Interfor chief executive Ian Fillinger says the decision to exit its Quebec operations was influenced by recent developments that have restricted the availability of economic fibre, including record forest fires in 2023.
Interfor Corp. is exiting Quebec by selling its three manufacturing facilities and closing its corporate office in Montreal to focus on other areas of its business.
CEO Ian Fillinger explained that the decision was driven by recent developments limiting access to economic fibre, including the record-setting forest fires in 2023.
The company has agreed to sell its sawmills in Val-d’Or and Matagami, along with the Sullivan remanufacturing plant in Val-d’Or and all related forestry and business operations, to Chantiers Chibougamau Ltée (CCL) for $30 million in cash.
As part of the deal, Interfor and CCL will enter a multi-year agreement to supply machine stress-rated lumber to Interfor’s I-Joist engineered wood products facility in Sault Ste. Marie, Ontario.
Interfor expects to record an impairment charge in its third-quarter results due to the sale.
The transaction does not include any countervailing or anti-dumping duty deposits linked to the ongoing U.S.-Canada softwood lumber trade dispute.
