Tolko acquires full ownership of Sask. forestry mill

MEADOW LAKE, Sask. – The Saskatchewan government has sold its 25 per cent stake in the Meadow Lake Oriented Strand Board (OSB) mill.

British Columbia-based Tolko Industries Ltd. has acquired 100 per cent ownership of the plant for $30 million.

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

Sign up for weekly money newsletter Get Started

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

Saskatchewan’s Crown Investment Corporation (CIC) will gain approximately $9 million from the sale.

“This sale is consistent with our government’s policy of letting the private sector lead economic growth and to get government out of direct investments wherever possible,” said CIC Minister Donna Harpauer.

The province’s original investment was made in 2001 when the mill was constructed.

Tolko manufactures lumber, unbleached kraft papers, panel products, and specialty wood products at its operations across western Canada.