Burlington, Wash.-based Pacific Woodtech announced the acquisition of Louisiana-Pacific Corp.’s EWP (I-Joist and LVL) division for $210 million. The acquisition includes LP laminated veneer lumber and I-Joist manufacturing facilities in Wilmington, NC; Red Bluff, Calif.; and Golden, British Columbia, associated timber license assets, and the SolidStart laminated strand lumber brand. The sale is targeted to close in early August.
The acquisition comes as PWT expands its North American engineered wood product offerings. “Adding Golden, Wilmington, and Red Bluff to PWT’s existing EWP business will propel the company into new growth,” comments President and CEO Jim Enright. “PWT continues to drive positive change at the cutting edge of engineered wood products, and this acquisition will provide a more streamlined and focused resource for the industry. We are working hard to make this a seamless transition, one that allows for the retention and care of current employees and clients and strengthens PWT’s position as a leading force in the EWP market going forward.”
PWT has experienced impressive growth in the industry since its inception in 1998, a result of its commitment to innovation and its sole focus on engineered wood products for more than 20 years.
“We believe that Pacific Woodtech is well positioned to invest in and grow the SolidStart brand, and its acquisition of LP’s EWP business marks another important step in LP’s ongoing strategic transformation,” says LP Chair and CEO Brad Southern. “We will work with Pacific Woodtech to ensure a smooth transition for our EWP employees, customers, and suppliers. I want to express my sincere thanks to the entire EWP team for their patience and professionalism throughout this process. I wish them all the best moving forward.”
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