Mississauga, Ontario – Steve Rhone, president of Weston Forest, has announced an agreement to purchase Bolton, Ontario-based Monterra Lumber Mills Ltd.
Monterra is one of the most respected lumber remanufacturers in Ontario. They produce a wide range of high-quality lumber products for home centres in Canada and the United States, as well as a diverse range of industrial products for the crating and packaging industry.
Monterra will continue to be run by its founder and current President, Claudio Tersigni.
“Claudio and I have been friends and have done business together for close to 40 years,” said Weston CEO Rick Ekstein. “He is one of the best lumbermen and one of the most decent and ethical people I know. He will be a huge asset to our team.”
“Our success is due to our people and our loyal customers,” said Tersigni, “and I know that Weston will provide us with the resources and stability necessary to keep growing our business and provide continued opportunity to our long-term employees.”
Steve Rhone noted, “This acquisition will continue the Weston Forest commitment to growth, to offering innovative solutions to our suppliers and customers, and to providing opportunities for our people. This is an important pillar in our expansion”
The acquisition is targeted to close September 30, 2020.