Quebec firm buys northern lumber mill
A lumber mill that employs about 135 people in a small Aroostook County town has been purchased by wood-processing company Maibec, which is based in Quebec.
The Presque Isle Star-Herald reported that the sale of Fraser Timber’s lumber mill in Masardis, first announced last September, closed on Monday and will bring Maibec’s total workforce to nearly 850 employees. Financial details of the transaction were not disclosed.
“This acquisition gives Maibec its first place of business in the United States and represents an important milestone in our growth.” Francois Tardif, Maibec’s president, said in a prepared statement. “In the coming months, we plan to strategically invest in this new production unit.”
The Fraser Timber mill can produce more than 100 million board feet of soft wood lumber annually, according to the newspaper. The lumber is sold in the United States.
Gov. Paul LePage said in a prepared statement that “Maibec is making a huge investment in the state of Maine.” He added: “This investment will help bring greater economic stability to Aroostook County, creating more opportunities for good-paying careers and prosperity for Maine people.”
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