GreenFirst Posts First Post-Acquisition Results

GreenFirst Forest Products Inc., a lumber company with seven sawmills in Ontario and Quebec and one paper mill in Ontario, had net sales of $28,928 for the third quarter of 2021. Manufacturing and production costs for the quarter were $31,082 reflecting inventory shipped at fair value. The company had a net loss of $13,486. In August, the company completed the acquisition of sawmill and newsprint assets from certain Canadian subsidiaries of Rayonier Advanced Materials Inc. in Ontario and Quebec. The mills continue to operate as 'business as usual' as management focuses on setting up its back-office functions in North Bay and Toronto, ON. The third quarter results include only four weeks of operating results for the newly acquired operations.