Companies in the timber industry / Daily News / Wood pellets / Wood Products / Global / North America
September 11, 2018
Canadian Pinnacle buys large stake in Alabama wood pellet plant
Canadian industrial wood pellet manufacturer Pinnacle Renewable Holdings Inc announced last week it has agreed to buy a 70% stake in a production facility in the US state of Alabama. British Columbia-based Pinnacle will buy the majority stake from diversified land resources firm The Westervelt Company, which will retain a 30% interest in this industrial wood pellet production facility, located in Aliceville. The buyer did not say how much it will pay for the controlling interest, but noted it will fund the purchase through a draw on its credit line and cash on hand.  ...
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