Andersen agrees to acquire Weiland
Andersen Corporation has signed a definitive agreement to acquire Weiland Sliding Doors and Windows, Inc. in a unanimously approved decision by all directors on both boards.
Weiland’s specialty doors posit a strategic interest for Andersen, which is in the process of widening its specialty, outdoor and architectural offerings.
“Specialty doors are a growing market segment as outdoor living spaces have increased in popularity,” said Andersen Corporation chairman, president and CEO Jay Lund. “This acquisition accelerates our entry into this important category and closely aligns with the expansion of our architectural products.”
Weiland’s specialties include lift and slide, folding door products, pivot doors and European tilt and turn windows, with options ranging from curved to corner configurations as well as oversized panels.
Weiland will retain its management structure and operations in the San Diego region. The sale price is undisclosed.
Thomas Burke is USG’s newest board member
USG Corporation has elected Thomas A. Burke, currently president and CEO of Modine Manufacturing Company, to its board of directors.
Burke will serve on the Audit and Governance committees and will make up the ninth independent director on the USG board.
“We are pleased to welcome Thomas Burke to our board,” said Jim Metcalf, chairman of the board, president and CEO of USG Corporation. “His history of leadership, manufacturing knowledge, and extensive international experience will be valuable assets as USG continues to execute Our Plan to Win.”
Burke has been at the helm of Modine since 2008, having previously served as executive VP and COO. He has also maintained several senior positions with Visteon Corporation, Ford Motor Company and Deere and Company. His work experience totals over 30 years.
Burke is also a boardmember with Modine Manufacturing and United Way of Racine County, as well as a trustee of Manufacturers Alliance for Productivity and Innovation (MAPI), a member of the board of regents of the Milwaukee School of Engineering and a director of the National Association of Manufacturers.
Boise Cascade closes deal with Wood Resources for $102 million
Boise Cascade Company has purchased Wood Resources LLC’s Southeast Operations for $102 million.
The acquisition deal includes Chester, S.C.-based Chester Wood Products LLC, a producer of softwood plywood panels and veneer, as well as Moncure Plywood LLC, a flexible specialty plywood mill in Moncure, N.C.
Wood Resources had previously acquired the two entities in 2004 from Weyerhaeuser, at which time their prospects were uncertain. Financial performance and output has since improved.
"I want to welcome the employees at Chester and Moncure to the Boise Cascade family," said Tom Carlile, CEO of Boise Cascade. "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," added Wood Resources CEO Kurt Liebich. "We are pleased that our employees have the opportunity to continue to move forward as part of Boise Cascade. 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."
The final price is subject to final working capital adjustments.