The acquisition of sawmill operator Davidson Industries will place Tembec Inc. into lead position as a top Canadian producer of specialty wood products, a company official says.
Tembec announced in mid-November it will be acquiring Davidson Industries for $28.2 million.
The acquisition gives Tembec Industries Inc., a subsidiary of Tembec Inc., a pine sawmill and a hardwood sawmill in Davidson, Que., a sawmill in Woodsville, N.H. and a distribution centre in Ireland. The purchase also involves Davidson's non-controlling interest in a sawmill in Chile.
Davidson has annual sales of $75 million.
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