2013-09-30 18:24:02 -
BOISE, ID and SHELTON, WA (September 30, 2013) - Boise Cascade Company (NYSE:
BCC), a leading wood products manufacturer and building materials distributor in
North America announced that it has completed the acquisition of Wood Resources
LLC's Southeast Operations, which include Chester Wood Products LLC and Moncure
Plywood LLC, for $102 million. The acquisition price is subject to final working
Chester Wood Products, based in Chester, South Carolina, produces softwood
plywood panels and veneer for a variety of end markets. Moncure Plywood, based
in Moncure, North Carolina, is a flexible specialty plywood mill that produces
both hardwood and softwood panels.
Tom Carlile, Boise Cascade CEO, commented "I want to welcome the employees at
Chester and Moncure to the Boise Cascade family. The addition of these two well-
run plywood plants will
strengthen our footprint and enable us to better serve
our customers in the Eastern and Southeastern United States."
"We would like to thank the management and employees of our Chester and Moncure
operations for their past commitment to performance and safety. We are pleased
that our employees have the opportunity to continue to move forward as part of
Boise Cascade," said Kurt Liebich, CEO of Wood Resources. "We will be focusing
our efforts and investment on our two plywood operations in the Pacific
Northwest, where we are committed to providing our customers with high-quality
wood panel and veneer products."
In 2004, Wood Resources, an operating unit of Greenwich, Connecticut-based Atlas
Holdings LLC, acquired Chester and Moncure from Weyerhaeuser Corp. amid
uncertainty about both mills' futures in an industry undergoing significant
consolidation. Through a relentless focus on safety and continuous improvement,
both Chester and Moncure have improved efficiency, productivity, and output, and
have achieved excellent financial performance.
About Boise Cascade
Boise Cascade is a large, vertically integrated wood products manufacturer and
wholesale distributor of wood products and other building materials with
widespread operations in the United States and Canada. The company is
headquartered in Boise, Idaho.
About Wood Resources LLC
Founded in 2003, Wood Resources is a manufacturer of plywood and veneer in the
United States. The company is based in Shelton, Washington, and is a unit of
Greenwich, Connecticut-based Atlas Holdings LLC. Its operating companies include
Olympic Panel Products and Omak Wood Products. Visit www.olypanel.com and
www.omakwood.com to learn more about Wood Resources and its operating companies.
About Atlas Holdings LLC
Atlas Holdings is a diversified group of manufacturing, distribution, and
service businesses that operates in the building materials, capital equipment,
energy, industrial services, packaging, pulp, paper, tissue, steel, logistics,
supply chain management, and distribution segments. Atlas has been responsible
for preserving thousands of jobs in North America by investing its capital and
expertise in previously struggling businesses. Visit www.atlasholdingsllc.com to
Source: Boise Cascade Company
Boise Cascade: John Sahlberg, 208-384-6451
Wood Resources LLC: Ken Stoltz, SMG, Inc., 208-388-0766, firstname.lastname@example.org
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Source: Boise Cascade Company via Thomson Reuters ONE