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10 April 2014

Ilim Timber US sawmills become a part of Interfor

Ilim Timber reached agreement with International Forest Products Limited of Vancouver Canada (Interfor) to sell its Tolleson Lumber Company becoming a strategic and significant shareholder with 5,5% stock in the company.  In addition, Ilim will have the ability to nominate one designee for election to the Board of Directors of Interfor.

Interfor and Ilim Timber will evaluate joint International marketing opportunities and association to enhance both companies’ ability to serve global customers and profitably participate in strategic growth regions.

“This transaction improves our ability to participate in the North American lumber market growth, and enables the Tolleson business to be leveraged through synergies and best practices to create more shareholder value as part of Interfor. We are very pleased to become a long term strategic investor in Interfor, and see this as a logical step in our strategy to become the industries’ only truly global sawn timber leader.” Ilim Timber’s CEO, Alexander Sovetnikov said.

 

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