CanWel acquires Jemi Fibre

VANCOUVER ― CanWel Building Materials has reached an agreement with forest products firm Jemi Fibre Corp. to acquire all of its issued and outstanding common shares, the companies have announced. The shares will be exchanged for CanWel shares on the basis of 31.13 Jemi Fibre shares for one CanWel share and approximately 2.53 million common shares of CanWel will be issued to shareholders of Jemi Fibre. Jemi Fibre owns approximately 136,000 acres of private timberlands, strategic crown licenses and tenures, log harvesting and trucking operations, several post and pole peeling facilities, two pressure-treated specialty wood production plants, and one specialty saw mill. The transaction will result in Jemi Fibre becoming a wholly-owned subsidiary of CanWel and will combine Jemi Fibre’s operations with CanWel’s well-established Canadian platform.