Pellet mill sells for $2.3m

Wood Composite Technologies, a Nisku, Alberta, Canada-based company dedicated to the production of alternative wood materials, is to sell its pellet production plant.

DiCorp Properties will acquire the plant, in addition to some pieces of equipment, for $2.3 million (€1.6 million).

The deal is subject to a number of conditions, such as Wood Composite Technologies gaining shareholder approval. The company is said to be investing in new executive offices and is currently searching for an ideal location.