Kronospan has announced the acquisition of Woodgrain’s particleboard facility at Island City, Oregon.
The company said the addition of the Island City plant will strengthen Kronospan’s position in the North American wood panel market and further demonstrates its commitment to its overall growth strategy.
“I’m very excited about today’s announcement,” said Hans Obermaier, CEO of Kronospan’s North American operations.
“The addition of the Island City plant and its talented team will further enhance our ability to serve our customers and provide long term benefit to our stakeholders.”
“It was important for us to find a buyer that is a good fit for our 124 team members, and one that will continue to invest in the plant and its people,” said Kelly Dame, President and CEO of Woodgrain stated.
Kronospan has expressed its intent to invest in the modernization of the Island City plant upon completion of the post-acquisition period.
