Interfor to Buy Georgia Lumber Mills for $180 Million From Ilim

International Forest Products Ltd. agreed to purchase operations including two Georgia sawmills for $180 million from Ilim Timber Continental SA to expand in the U.S. Southeast.

International Forecast Products, the Vancouver-based company known as Interfor, said its annual capacity to produce lumber will increase by about 20 percent with the purchase of Tolleson Ilim Lumber Co. Interfor said today in a Marketwired statement that it will pay $129.9 million in cash and retained liabilities, plus 3.68 million shares for the Perry, Georgia-based business.