As part of a deal including three sawmills previously owned by Conifex Timber, the Glenwood sawmill has been sold to Canadian-based company Resolute Forest Products.
The Glenwood facility produces construction-grade dimensional lumber and decking products using locally-sourced southern yellow pine. It operates 1.5 shifts with 114 people. When it operates at full capacity, the plant could grow to 135 people over two shifts.
Resolute Forest Products plans to build on the $23 million in capital investments by previous owners, Conifex. The company expects to see related benefits to the acquisition in several ways:
-Complementing current staff and workers with Resolute’s deep sawmilling experience.
-Using the company’s strong financial position to support improvement initiatives
-Create synergies using other plants in the southeastern United States
The Southwest Arkansas Regional Intermodal Authority has pledged to aid Resolute with needs to ensure the Glenwood location is profitable for the company.