Kronospan strengthens its position with fresh acquisition

 Wednesday, May 22, 2024

Kronospan, one of the leading producers of wood panel products, has recently announced the acquisition of Woodgrain’s Particleboard facility in Island City, Oregon. The incorporation of the Island City plant will fortify Kronospan’s standing within the North American woodworking market, showcasing its steadfast dedication to advancing its overarching growth strategy.

“I’m very excited about today’s announcement. 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” said Hans Obermaier, CEO of Kronospan’s North American operations.

Kelly Dame, President and CEO of Woodgrain stated, “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”

The company has expressed its intent to invest in the modernisation of the Island City plant upon completion of the post-acquisition period.

Kronospan began operations in 1897 as a sawmill in Lungötz, Austria. A privately held, family owned company, Kronospan employs about 14,000 people and operates wood-based panel production facilities worldwide. In the U.S., Kronospan currently operates three manufacturing locations in Alabama, Louisiana and Pennsylvania.

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Tags: kronospan, wood and panel, Woodgrain Particleboard facility, woodworking, woodworking and manufacturing, woodworking and processing, woodworking industry, woodworking UK