Weyerhaeuser in final talks to sell composite panels unit.Byline: Ilene Aleshire The Register-Guard
Weyerhaeuser Co. has found a buyer for its composite panels business, which includes a west Eugene mill that employs 73 people.
Weyerhaeuser, based in Federal Way, Wash., said it is in final negotiations with Flakeboard Ltd., which is based in Markham, Ont., for the sale of composite mills in Eugene, Albany, Bennettsville, S.C., Malvern, Ark., and Simsboro, La. The Eugene mill, at 50 N. Danebo Ave., produces medium density fiberboard fi·ber·board
A building material composed of wood chips or plant fibers bonded together and compressed into rigid sheets.
Noun 1. .
In Europe, Weyerhaeuser is negotiating with an Irish company, Coillte, for the sale of a mill in Clonmel, Ireland.
Weyerhaeuser announced in late November that it was putting its composite panels business up for sale. Spokesman Mike Moskovitz said the mills are among the lowest-cost and most productive in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. but don't fit Weyerhaeuser's core business. Weyerhaeuser acquired the mills in 2002 as part of its purchase of rival Willamette Industries.
Flakeboard's chief executive, Kelly Shotbolt, said Friday that he could not discuss the planned acquisition at this time, and that details are still being finalized See finalization. .
A statement on the company's Web site said the acquisition would add about 1.1 billion square feet of manufacturing capacity to the company's current capacity of 400 million square feet.
"The quality of the assets, the professional work force and strong customer base (of the Weyerhaeuser mills) complement Flakeboard's product range and service, resulting in an unparalled offering to the industry," Shotbolt said in a statement. "The transaction allows Flakeboard to expand our focus on our core business and meet the challenging demands of the North American North American
named after North America.
North American blastomycosis
see North American blastomycosis.
North American cattle tick
see boophilusannulatus. market."
Flakeboard was formed in 1960 and employs 450 people. It is considered in the industry to be a specialty oriented o·ri·ent
1. Orient The countries of Asia, especially of eastern Asia.
a. The luster characteristic of a pearl of high quality.
b. A pearl having exceptional luster.
3. , value-added producer, with a high degree of integration. The company, for example, makes it own resins resins,
n.pl complex, insoluble, sticky substances secreted by plants. Used as astringents, antimicrobials, and antiinflammatories, and are burned as incense. Can cause oral ulcers and epidermal irritations. and decoratively finishes its own products.
Flakeboard's Web site did not give a time line for the acquisition, saying only that it is expects to finalize fi·nal·ize
tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es
To put into final form; complete or conclude: "They have jointly agreed ... it "within the coming months."