Vancouver building-materials distributor sells unit
Posted October 4, 2010 8:46 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Vancouver-based CanWel Building Materials is getting out of hardware, selling the unit to Tim-BR Marts for $50 million cash. The deal includes a construction materials distributor in Quebec.
Chairman Amar Doman says the “sale will allow us to focus specifically on our core business of specialty building materials” and on integrating recently acquired Broadleaf Logistics.
The company says the proceeds of the sale will be used to reduce debt.
