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Kronospan, Oxford, Al., a leading producer of wood panel products, has acquired Woodgrain’s particleboard facility in Island City, Or.
The addition of the Island City plant will strengthen Kronospan’s position in the North American wood panel market and further demonstrates Kronospan’s commitment to its overall 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”
Kronospan has expressed its intent to invest in the modernization 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.
