In a Sept. 13 press release ComFor Management Services Ltd. (CMSL) announced the sale of Sheraton Holdings to Tahtsa Timber Ltd. The sale, which includes the plant, equipment and inventory has been sold for ‘over $980,000’. Comfor originally purchased Sheraton Holdings for $1,153,902 but the mill was dramatically affected in the economic downturn that saw the shutdown of mill operations in 2010 and did not operate through most of 2011.
The mill re-opened for operations earlier this year through assistance from Hampton Affiliates and Community Futures Nadina.
New WCB regulations concerning allowable dust levels require that the mill undergo ‘extensive sawmill upgrades to mitigate dust accumulation’ or else change its operating procedures.
CMSL decided that it would not undertake these kinds of capital improvements and after considering Tahtsa’s business plan for the mill proceeded with the sale.
This sale is part of larger changes taking place within ComFor Management.
In email correspondence, President Beach assured Lakes District News that “the board of directors of CMSL with representatives from the Burns lake Band, Wet’suwet’en First Nation, Office of the Wet’suwet’en First Nation and the public at large have been meeting regularly and with full quorum and have participated in unanimous decision-making.”
Owner of Tahtsa Timber Ltd., Klause Posselt declined to make further comment about the purchase stating, “I have preread the statement from Comfor and am satisfied with it. I do not have anything to add at this time.”