Tuesday, September 25, 2018
Boise Cascade Company (Boise Cascade) (NYSE: BCC) has entered into an agreement with Woodgrain Millwork to sell its northeast Oregon lumber mills in Pilot Rock and La Grande and the particleboard operations in Island City. The planned transaction does not include Boise Cascade’s plywood mill or the powerhouse and log utilization center, based in Elgin, OR.
Woodgrain is a manufacturer and supplier with a diverse product offering including moulding, door shop products, and window parts, headquartered in Idaho.
“The sale to Woodgrain allows us to further focus on our veneer-based engineered wood products and plywood businesses,” said Mike Brown, senior vice president of operations, Boise Cascade Wood Products division. “Woodgrain is a family-owned company with a solid reputation in the industry. The products manufactured at these northeast Oregon facilities are a good fit with their business strategy.” Mike added further.
“Being a fully integrated company in each step of our supply chain has become one of our core strengths as a company,” said Kelly Dame, Woodgrain CEO. “Being able to grow the Woodgrain Lumber division is a key step in growing as a company. We are excited about the opportunity it offers.” Kelly concluded.
The details of the agreement were not disclosed and the transaction is contingent upon the results of the due diligence process, which is expected to take approximately 60 days.
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