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Maibec Acquires Cedar Balmoral Ltd. from Balmoral, New Brunswick To Meet Growing Demand for Eastern White Cedar Singles

8 February 2016

Levis QC – February 8, 2016 – Maibec Inc. today announced that it has acquired Cedar Balmoral Ltd., a manufacturer of Eastern white cedar shingles located in Balmoral, New Brunswick.

Despite being the largest manufacturer of Eastern white cedar shingles in North America, Maibec says the growing demand for its natural and stained cedar shingles has been outpacing its production capacity in recent years.

“A growing number of homeowners and builders, particularly those in the U.S., are turning to Maibec Eastern white cedar shingles,” said François Tardif, President of Maibec. “This acquisition will allow us to keep pace with this increased demand and to develop new markets.”

In the coming months, Maibec plans to upgrade manufacturing practices in the Balmoral mill to ensure it is operating at peak capacity and producing quality shingles worthy of the Maibec name. This new production will gradually be added to that of Maibec’s Eastern white cedar shingle plants in St. Pamphile and St. Theophile, Quebec.

Over the years, Maibec’s unique expertise has made it the brand of reference in its respective markets. It is especially well-known for its genuine wood siding and Eastern white cedar shingles, which bring charm and beauty to any residential style and setting, be it urban, rural or coastal.

About Maibec Inc.
Maibec Inc. is a Quebec-based family business that has been active in the wood processing sector since 1946 and has been manufacturing shingles since 1964. In addition to being the largest manufacturer of Eastern white cedar shingles in North America, it is also Canada’s largest manufacturer of genuine wood siding and cedar mulch. Maibec also operates two lumber sawmills in St. Pamphile, Quebec and in Masardis, Maine. Nearly 850 employees work at its Canadian and U.S. mills.

About Cedar Balmoral Ltd.
Since 1979, Cedar Balmoral Ltd. has been manufacturing Eastern white cedar shingles for the U.S. and Canadian markets. Its primary markets include New England, the U.S. Midwest as well as Eastern Canada.

Source:
François Tardif, President, Maibec Inc.

Information:
Michel LeBlanc, Vice-President Sales & Marketing, 418-830-8855 ext. 288



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