Canfor Corp.'s (TSX:CFP) New South Companies Inc. American subsidiary plans to buy South Carolina-based Chesterfield Lumber Company Inc. for US$18 million.
The acquisition will add roughly 140 million board feet of southern yellow pine to the company's production.
The deal is expected to close by 2007's fourth quarter.
Canfor's share price range during the past week: between $11.70 and $12.77; 52-week high: $13.98; 52-week low: $9.54.