Fibreboard to Acquire Snider Lumber Products
- Share via
CONCORD, Calif. — Fibreboard Inc. will pay $13 million cash to acquire the privately held Snider Lumber Products Co. and its mills near Sonora and Turlock, a Fibreboard spokesman said.
Fibreboard Chairman and President Lawrence Hart said his company has signed an agreement to buy Snider’s sawmills in Chinese Camp, west of Sonora; Wallace, west of San Andreas, and a remanufacturing plant in Turlock.
“These new operations will increase Fibreboard’s lumber capacity by nearly 50% and present the opportunity to expand in the remanufacturing business,” Hart said in a prepared release.
The transaction will require a payment of $13 million cash plus financing secured by the assets of Snider, Hart said.
The Snider mills have a production capacity of 100 million board feet and an annual remanufacturing capacity of 180 million board feet.
A Fibreboard spokesman said Snider will become a wholly owned subsidiary and no layoffs are anticipated.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
