Profile Products and Canadian Forest Products Ltd. (Canfor) have reached agreement in principle for Profile to purchase the hydraulic mulch product manufacturing assets and EcoFibre brands of Canfor's Panel and Fibre Division.
Canfor previously announced on Nov. 9 that the Panel and Fibre Division will close permanently. The acquisition will position Profile to further expand production and distribution of hydraulic mulch and other erosion control products throughout North America. The transaction is contingent upon the completion of due diligence and is expected to close by Dec 31.
The pending acquisition is the latest in a series of recent actions taken by Profile to bring new erosion control technologies, increased manufacturing capacity and improved service to broader segments of the market. According to John Schoch, c.e.o. of Profile, the company's goal is to ensure there is a reliable supply of the most advanced erosion control products across the continent as well as overseas.
"Our acquisition of Canfor's Panel and Fibre mulch manufacturing assets, intellectual property and remaining inventory is in keeping with our commitment to meet the varied needs of every customer in a timely and efficient manner," said Schoch. "The acquisition will combine two internationally respected hydraulic mulch product lines and brands that feature the superior technology of thermal wood refining. Canfor's EcoFibre brand will join Profile's market leading brands including Conwed and Terra-Mulch hydraulic mulch, Flexterra Flexible Growth MediumTM, and Hydro-Blanket® Bonded Fiber Matrix among others. It is our goal to make the best technology broadly available so no one ever has to compromise on the quality of their erosion control solution."
