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Atcon Plywood receiver hopeful of offers
Published:  05 July, 2010

The court-appointed receiver of Atcon Plywood in Miramichi, New Brunswick, PricewaterhouseCoopers (PWC), has said several potential buyers for the plywood manufacturer have come forward as markets for construction materials begin to rebound reports the New Brunswick Business Journal.

PWC’s Bob Smith said three or four “serious” groups were undertaking due diligence on the operation, noting that a year ago, when US housing starts were below 400,000 a year, nobody wanted to buy wood or plywood.

Housing starts could top 1 million in 2011, said Mr Smith, with much of that growth coming from the US eastern seaboard, which is a key market for Atcon Plywood.

Part of the Atcon Group, which has been in creditor protection since March 1, Atcon Plywood has not operated for about two years.

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