Pope & Talbot agrees to sell two sawmills for $6.75 million

By Caroline Salls

Pittsburgh, Feb. 12 - Pope & Talbot, Inc. has agreed to sell its Fort St. James and Midway sawmills for a total of $6.75 million, according to a company news release.

The Sinmar Mas Group has agreed to buy the Fort St. James sawmill for $6 million, and Fox Lumber Sales, Inc. has agreed to purchase the Midway sawmill for $750,000.

The sales are subject to approval by the U.S. Bankruptcy Court for the District of Delaware and the Canadian court, as well as customary regulatory approvals in Canada and the United States.

Pope & Talbot said it expects to close the transactions in the second quarter of 2008.

Pope & Talbot, a Portland, Ore.-based pulp and wood products company, filed for bankruptcy on Nov. 19. Its Chapter 11 case number is 07-11738.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.