San Group's Port Alberni holdings sold after bankruptcy

Two industrial properties in the Alberni Valley that were shuttered when San Group declared bankruptcy last year have been sold.

The Coulson Mill, located a few kilometres up the Alberni Inlet, has been purchased for an undisclosed amount by Fraserview, a Surrey company that has been producing manufactured wood products since 1994.

The remanufacturing plant on Stamp Avenue has been sold to a numbered company, 037BC, which will in turn lease the premises to IGV Housing Ltd. This company, from Ucluelet, specializes in manufacturing scalable and sustainable housing using a hybrid construction system, according to court documents. The company intends to "revitalize the...plant as a central hub for prefabrication and production of affordable housing."

Again, the purchase price was not disclosed. The closing date for the reman plant purchase will be before June 30, 2025.

Port Alberni Mayor Sharie Minions said news of the sale was "exciting" after what has been "a really difficult and stressful time for the community."

She said the city and province have tried to help the workers affected when San Group declared bankruptcy last year after curtailing both the Coulson Mill and reman plant.

Minions said with the two major industrial sites from San Group, coupled with the sale of the APD Sawmill to Amex from Campbell River, it was good news on three fronts. "All three of them have been taken over in a really short period of time by people who want to invest and bring new life to these industries.

"I feel extremely encouraged by all three of those sites being picked up."

She is particularly happy to hear that one company intends to build pre-fabricated homes, which she hopes will help with the housing needs of the Alberni Valley. "Those types of industries are future looking and it's the next step of the forest sector."

San Group had not paid their taxes in 2024 or 2025, leaving the City of Port Alberni with a million-plus-dollar hole in its budget. Minions said they don't have confirmation on exactly how much "but we are aware we will get money back," she said.

The sale of both Port Alberni San Group sites as well as a site in Langley were outlined in court documents June 12. Fraserview has agreed to pay $104,000 in back taxes up to May 31, 2025 and $56,000 in additional licence fees. Coulson Mill is not located within City of Port Alberni limits, it is within the Alberni-Clayoquot Regional District.

Fraserview has stated it intends to restart operations at the Coulson Mill as soon as possible after the sale is finalized. Unionized employees will be offered jobs, as stated in court documents.