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.
SWK makes the Climate Performance Leadership Index
Stanley Black & Decker has been listed on CDP’s S&P 500 Climate Performance Leadership Index (CPLI) for the first time, available in the CDP S&P 500 Climate Change Report 2013.
“Our long-term efforts to reduce our environmental impact have fostered a culture of process innovations that result in quantifiable environmental improvements,” said John F. Lundgren, chairman and CEO of Stanley Black & Decker. “Sustainability is embedded throughout Stanley Black & Decker, and we are creating a company-wide culture that engineers waste out of our processes before it is generated, minimizes energy and water consumption on the design table, and empowers our employees to create the solutions.”
Stanley participated in the CDP climate change program at the request of 722 investors (representing $87 trillion in assets). An ‘A band’ for climate performance is required for a position on the CPLI, and Stanley was one of 36 S&P 500 companies who made the mark.
The company has also committed to reduce its environmental footprint an additional 15% by 2015.
CPLI is an annual index composed of S&P 500 companies with a demonstrable investment in improving the environment. It is maintained by CDP, a global environmental disclosure organization.
ProDealer summit examines component business
The 2013 ProDealer Industry Summit slated for Nashville Oct. 23-25 will include a panel presentation on the business of components.
A panel of pro dealers will share thoughts on best practices that govern truss and other component operations.
Assembled on the panel are Chuck Bankston, president of Bankston Lumber, Barnesville, Ga.; Peter Alexander, CEO of BMC, Boise, Idaho; and Dale Carlson, president of Lyman Lumber, Excelsior, Minn.
The Component business presentation is set for Oct. 25, at 11:00 a.m.
The ProDealer Industry Summit is a national LBM event with some of the highest-performing dealers in the country. The event is sponsored jointly by HCN and the National Lumber and Building Material Dealers Association. To learn more, visit Prodealer.com.