A Quebec-based wood-processing company has signed an agreement to purchase Fraser Timber LLC’s lumber mill in Masardis, a small town in Aroostook County.
According to the St. John Valley Times, Maibec Inc. of Levis, Quebec, is characterizing the purchase as an “important milestone” in its growth, stating in a company release that “the mill’s geographic location will allow us to improve our access to key U.S. markets.”
The transaction is expected to close by the end of the year, the newspaper reported.
The mill employs 135 people and can produce more than 100 million board feet of softwood lumber annually. Its lumber is sold in the United States.
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