KALISPELL, Mont. (AP) — The Idaho Forest Group, one of the nation’s largest lumber producers, is acquiring Tricon Timber’s stud mill in St. Regis, Montana.
The Flathead Beacon reports that the forest group announced the purchase last week. The transaction is scheduled to close by Dec. 1.
The company did not return a request for comment, but the group’s vice president of sales and marketing, Erol Deren, said in a statement that the acquisition is an excellent addition to ongoing operations in Northern Idaho.
In 2015, Tricon laid off about half its employees due to the increasing challenges facing independent wood products companies.
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An industry expert from the University of Montana, Todd Morgan, says the forest group has a solid reputation for reinvesting into its mills with new technology that can keep them competitive in the modern market.
Information from: Flathead Beacon, http://www.flatheadbeacon.com