April 19, 2018 10:54 AM ET

Paper and Forest Products

Company Overview of Interfor Corporation

Company Overview

Interfor Corporation, together with its subsidiaries, produces wood products. The company offers commodity structural lumber products; and specialty products, such as decking and siding products, machine stress rated products, industrial timber products, and various appearance grade items. It also provides wood chips and other residuals. In addition, the company is also involved in the purchase and sale of logs that are unsuitable for cutting or in excess of its manufacturing requirements. Interfor Corporation sells its products in the United States, Canada, Japan, China, and Taiwan, as well as exports to other countries internationally. The company was formerly known as International Forest...

1055 Dunsmuir Street

Suite 3500

PO Box 49114

Vancouver, BC V7X 1H7

Canada

Founded in 1963

3,062 Employees

Phone:

604-689-6800

Fax:

604-688-0313

Key Executives for Interfor Corporation

President, CEO & Non-Independent Director
Age: 66
Total Annual Compensation: C$750.0K
Senior VP & CFO
Age: 53
Total Annual Compensation: C$350.0K
Senior VP & COO
Age: 48
Total Annual Compensation: C$400.0K
Executive Vice President
Age: 62
Total Annual Compensation: C$500.0K
Senior Vice President of Sales & Marketing
Total Annual Compensation: C$344.9K
Compensation as of Fiscal Year 2016.

Interfor Corporation Key Developments

John Horning Steps Down as CFO of Announces Change

Interfor Corporation announced John Horning stepped aside as Chief Financial Officer and Marty Juravsky appointed Chief Financial Officer.

Interfor Corporation Announces Executive Appointments

Interfor Corporation announced that at its meeting held on February 8, 2018, the company's board of directors confirmed the appointments of Ian Fillinger as Senior Vice-President & Chief Operating Officer, and Marty Juravsky as Senior Vice-President & Chief Financial Officer, effective February 9, 2018. Fillinger joined the company in 2005 as general manager of the company's Adams Lake Division and has served in a series of increasingly responsible positions since that time. He was appointed Senior Vice-President & Head of Operations with responsibility for all of the company's operations and capital project activities in December 2015. Juravsky joined the company in 2012 in a consulting capacity and took formal responsibility for the company's corporate development activities in 2013. He has more than twenty years of experience working with some of North America's investment banks including Salomon Brothers/Citigroup and National Bank Financial. Immediately prior to his appointment, Juravsky served as the company's Senior Vice-President, Corporate Development & Strategy.

Interfor Corporation Announces Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Year Ended December 31, 2017

Interfor Corporation announced unaudited consolidated earnings and operating results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported sales of CAD 532,781,000 against CAD 442,308,000 a year ago. Operating earnings were CAD 47,886,000 against CAD 22,336,000 a year ago. Earnings before income taxes were CAD 44,164,000 against CAD 33,786,000 a year ago. Net earnings were CAD 36,196,000 or CAD 0.52 per basic and diluted share against CAD 26,550,000 or CAD 0.38 per basic and diluted share a year ago. Cash provided by operating activities was CAD 83,417,000 against CAD 50,380,000 a year ago. Additions to property, plant and equipment was CAD 17,413,000 against CAD 13,173,000 a year ago. Additions to timber and other intangible assets was CAD 534,000 against CAD 694,000 a year ago. EBITDA was CAD 85,409,000 against CAD 65,436,000 a year ago. Adjusted EBITDA was CAD 89,519,000 against CAD 51,298,000 a year ago. Adjusted net earnings were CAD 45,056,000 or CAD 0.64 per share compared to CAD 17,747,000 or CAD 0.29 per share a year ago. For the year, the company reported sales of CAD 1,990,106,000 against CAD 1,792,712,000 a year ago. Operating earnings were CAD 149,341,000 against CAD 75,890,000 a year ago. Earnings before income taxes were CAD 131,289,000 against CAD 72,850,000 a year ago. Net earnings were CAD 97,153,000 or CAD 1.39 per basic and diluted share against CAD 65,643,000 or CAD 0.94 per basic and diluted share a year ago. Cash provided by operating activities was CAD 273,920,000 against CAD 192,577,000 a year ago. Additions to property, plant and equipment was CAD 60,370,000 against CAD 50,393,000 a year ago. Additions to timber and other intangible assets was CAD 2,360,000 against CAD 1,682,000 a year ago. EBITDA was CAD 272,815,000 against CAD 208,251,000 a year ago. Adjusted EBITDA was CAD 287,758,000 against CAD 199,617,000 a year ago. Adjusted net earnings was CAD 116,486,000 or CAD 1.66 per basic and diluted share compared to CAD 58,658,000 or CAD 0.84 per basic and diluted share a year ago. Net debt at December 31, 2017 was CAD 119,300,000 or 12.3% of invested capital, compared to CAD 289,551,000 a year ago. For the quarter, the company’s lumber production was 655 million fbm compared to 607 million fbm a year ago. Total lumber sales was 686 million fbm compared to 619 million fbm a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Buyback
March 1, 2018
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