Wood Composite Technologies sells Nisku property for $2.3 million
Canadian Plastics
Materials Wood Plastic CompositesWood Composite Technologies Inc. (WCTI), a supplier of composite decking, has signed a deal to sell its pellet mill plant in Nisku, Alta. to real estate developer DiCorp Properties Inc., along with processing equipment, for approximately $2.3...
Wood Composite Technologies Inc. (WCTI), a supplier of composite decking, has signed a deal to sell its pellet mill plant in Nisku, Alta. to real estate developer DiCorp Properties Inc., along with processing equipment, for approximately $2.3 million.
According to WCTI, the sale is subject to a number of conditions including shareholder approval.
According to the terms of the sale agreement, WCTI will also have to find a new location for its executive offices.
WCTI uses sawdust waste and polyvinyl chloride to produce a composite product that can be used for decks. The product is marketed under the name of “Millennium Decking” by Millennium Decking Inc., a subsidiary of the corporation.
