Ainsworth Lumber completes plan to sell non-core assets, terms not released

VANCOUVER — Ainsworth Lumber Co. Ltd. (TSX:ANS) said Monday that it has completed a plan to sell its non-core assets including the company’s specialty plywood mill in Savona, B.C., and a veneer mill in the Lillooet, B.C.
Financial terms of the sales were not released, but the company said the proceeds of the sales are not expected to have a material impact on its financial results.

In addition to the B.C. mills, the company said it has signed a deal to sell its plants in Grand Rapids, Minn., that is expected to close Tuesday.
Ainsworth sold a property in Bemidji, Minn., in June and another property in Cook, Minn., earlier this month.
Operations at the three Minnesota properties were permanently discontinued in January.
Ainsworth Lumber is a major producer of oriented strand board, a popular substitute for plywood.