On June 27, Timberlab completed the purchase of the sawmill and 80-acre property in Philomath, Oregon from Interfor Corporation. The Philomath news reported (19.8.24).

The sale follows Interfor’s announcement that it would close the plant in February and wind down all operations in March. Rick Pozzebon, Interfor’s executive vice president and chief financial officer, mentioned the sale during the company’s earnings call this month. The earnings report revealed that Interfor had taken a $4.3 million write-down on the property.

“An unnamed buyer has acquired the Philomath sawmill from Interfor Corporation for $15 million,” Market Screener reported.

“On June 27, 2024, the Company sold property and assets of the former sawmill in Philomath, Oregon, for a cash consideration of $15 million,” Lumber Blue Book wrote.

But according to The Philomath newsBenton County property tax records show that Timberlab Property LLC owns the former Interfor properties.

The FEA compiles Wood Markets News from various third party sources to provide readers with the latest news impacting forest products markets. The opinions or views expressed in these articles do not necessarily reflect those of the FEA.