Maibec to acquire Fraser Timber’s Maine lumber mill

LÉVIS, Que. — Maibec Inc. has signed an agreement to purchase Fraser Timber LLC’s Masardis, Maine lumber mill.

Financial details have not been disclosed.

The mill employs approximately 135 people and has the capacity to produce over 100 million board feet of softwood lumber annually. It’s lumber is sold to the US market.

“This acquisition gives Maibec its first place of business in the United States, and represents an important milestone in our growth,” said François Tardif, the company’s president.

The transaction is expected to close before the end of the calendar year.

Earlier this year, Maibec invested $20 million to upgrade its softwood lumber mill in St-Pamphile with new equipment.

Maibec inc., based in Levis, Que., was founded in 1946 and has more than 700 employees at two production facilities in the province.