Crown Pacific announces intent to acquire lumber wholesaler.PORTLAND, Ore.--(BUSINESS WIRE)--Aug. 21, 1996--Crown Pacific Partners L.P. (NYSE NYSE See: New York Stock Exchange :CRO) announced today that it has entered into a letter of intent to acquire Maywood-Anderson Forest Products Inc., a Eugene based lumber lumber, term for timber that has been cut into boards for use as a building material. The major steps in producing lumber involve logging (the felling and preparation of timber for shipment to sawmills), sawing the logs into boards, grading the boards according to wholesaler. The company anticipates that the acquisition of Maywood-Anderson will be completed on Sept. 1, 1996, for approximately $3 million, including working capital. Crown Pacific is offering continued employment for all Maywood-Anderson's employees, including Jim Weeks Detective Jim Weeks is a fictional character from the Canadian television show Blue Murder. Detective Jimmy Weeks is hip and young, with a casual style and a speech pattern all his own. , president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Once the acquisition is completed, Weeks will become vice president of marketing and sales for Crown Pacific and he will be responsible for the sale and marketing of all of the company's manufactured products. Maywood-Anderson's 1995 revenues were $87 million. "The acquisition of Maywood-Anderson is a key component to Crown Pacific's continued growth strategy," said Peter W. Stott, president and chief executive officer, "in that it allows us to extend beyond our traditional sales and distribution channels. In addition, we are obtaining proven sales and marketing talent that will allow us to better integrate our manufacturing assets to further increase the value we receive for all of our lumber products. "We are especially pleased with the addition of Jim Weeks to our senior management team as he brings over 27 years of industry experience to Crown Pacific. Jim has not only been successful in operating a profitable wholesaling company, but also has significant experience in the manufacturing and marketing of lumber products. "The Maywood-Anderson acquisition will not only increase our revenues, but is also expected to contribute to both earnings and cash flow." Crown Pacific is a leading integrated timber and forest products manufacturing partnership with extensive timber holdings and conversion facilities located in Oregon Oregon, city, United States Oregon, city (1990 pop. 18,334), Lucas co., NW Ohio, a suburb adjacent to Toledo, on Lake Erie; inc. 1958. It is a port with railroad-owned and -operated docks. The city has industries producing oil, chemicals, and metal products. , Washington, Idaho and Montana. Additional news releases may be obtained on the company's Internet home page at http://www.businesswire/cnn/cro.htm. CONTACT: Crown Pacific Financial: Kelly E. Lang Lang language LANG Louisiana Army National Guard Lang Langobardian (linguistics) LANG Los Angeles Newspaper Guild , 503/274-2300 or Harris Massey Herinckx Media: Fletcher Fletcher may refer to one of the following: Ideas and companies
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