EACOM Timber Sells Sawmill to Carrier Forest Products
Montreal, Quebec, and Vancouver, British Columbia, Canada, 20 September 2011 -- EACOM Timber Corporation (ETR: TSX-V) announced today the completion of the sale of the Big River sawmill in Saskatchewan to Carrier Forest Products Ltd.
On 05 January 2010, EACOM acquired the mill, which was idled when purchased. Eacom has been diligently working to obtain the timber rights necessary to re-open the mill for operation since then, but has been unable to obtain any timber rights from the government of Saskatchewan. EACOM made the difficult decision to sell the idled mill and today has completed the sale of the mill on an “as is, where is” basis to Carrier for a purchase price of CAD 7.5 million.
EACOM Timber Corporation is a TSX-V listed company. The business activities of EACOM consist of the manufacturing, marketing, and distribution of lumber, wood chips, and wood-based value-added products, and the management of forest resources. EACOM owns eight sawmills, all located in eastern Canada, and related tenures. The mills are Timmins, Nairn Centre, Gogama, Elk Lake, and Ear Falls in Ontario, and Val-d’Or, Ste-Marie, and Matagami in Quebec. The sawmills in Ear Falls, Ontario, and Ste-Marie, Quebec, are currently idled. EACOM also owns a remanufacturing facility in Val-d’Or, Quebec, and a 50% interest in an “I” joist plant in Sault Ste-Marie, Ontario.