The deal, which will make West Fraser the second largest lumber producer in North America, is now expected to be completed at the end of the first quarter.
The mills are located in North and South Carolina, Georgia, Florida, Alabama, Arkansas and Texas, and have a combined production capacity of 1.8 billion board feet of lumber.
West Fraser’s capacity after the acquisition will total 6.2 billion board feet, making it second only to Weyerhaeuser in terms of North American lumber production.
Meanwhile, International Paper has announced it has managed to reduce its debt burden by US$6.2bn since undertaking a transformation plan in mid-2005. Its debt now stands at about US$7.2bn.
