Austria-based Hasslacher group is acquiring a stake in Element5, a mass timber producer specializing in the design, manufacture and assembly of modern engineered timber buildings. Based near Toronto, Can., Element5 employs more than 100 and produces cross-laminated timber and glued laminated timber for the North American market. 

As a leader in the European timber industry, and an innovation driver in wood processing, the Hasslacher group is thus taking an important strategic step in the North American market.

“Rapidly growing from a greenfield site four years ago into one of a few major certified mass timber producers in North America, we and our private equity investment partner Kensington Capital Partners are incredibly excited about this next phase of Element5’s journey,” says Patrick Poulin, President, and CEO of Element5. “Hasslacher’s strength in the global marketplace, its technology, and its very experienced team joined together with Element5 will drive a significant acceleration in our business.”

Christoph Kulterer, CEO and owner of Hasslacher, comments, “Together with Element5 we can now offer the North American market the entire HASSLACHER portfolio with shorter delivery times, greater capacity, and a full spectrum of engineering expertise.” 

With the investment in Element5, the Hasslacher group states it is the first European company to invest in the development and expansion of mass timber production capacity in the North American market. In addition to the existing cross-laminated timber line in St Thomas, Ontario, the Hasslacher group investment will fund the startup of a state-of-the-art new glulam line. The site will have a total mass timber production capacity of up to 100,000 m³ annually, which will go into full operation in the first half of 2025. Following the expansion, Element5 will employ around 200.

Founded in 2015 establishing its own production in 2020, Element5 has offices in Toronto and manufacturing operations in St. Thomas.

The family-run Hasslacher group, founded in 1901, employs 2,000 and produces innovative products in the areas of sawn timber, profiled timber, glued laminated timber, cross-laminated timber and structural fingerjointed solid timber for the European and international market. 

U.S. Endowment for Forestry and Communities announces that Fritz Mason, Paul Hossain and Anna Torma were elected as new directors at the organization’s fall board meeting.

“Drawing upon diverse backgrounds, they each bring a distinctive perspective and unique vision. We look forward to collaborating with them to further the mission of the Endowment,” comments Pete Madden, President and CEO of the Endowment.

Mason is President of Lumber for Georgia-Pacific, where he manages the lumber manufacturing portfolio including 12 sawmills across the U.S. Mason brings more than 35 years of experience in various roles across the industry, including leading the lumber team at Georgia-Pacific for the last 16 years. Timber Processing magazine named Mason “Person of the Year” in 2020, and he holds an MBA from Portland State University and a bachelor’s degree in forestry from Humboldt State University.

Hossain is Vice President of Natural Resources and Climate Solutions for Weyerhaeuser, where he has worked for nearly eight years. He is responsible for Weyerhaeuser’s conventional energy, minerals, renewables, and climate solutions business. Prior to its merger with Weyerhaeuser, he was vice president of renewable energy and supply chain at Plum Creek Timber. He is a board-certified environmental engineer, with a bachelor’s degree in civil engineering from Northeastern University.

Torma is Vice President of Public Affairs and Chief ESG officer for PotlatchDeltic, where she leads ESG, government relations, communications, and community relations. In this capacity, she leads ESG reporting and strategy and participates in international, national and state industry associations and coalitions to address policies impacting the forestry industry. Prior to PotlatchDeltic, Torma was SVP of Corporate Affairs for Forestar and a paper and forest products equity research analyst for Torma Research and for Merrill Lynch. She has a bachelor’s degree in forestry from Lakehead University in Ontario, an MBA in finance from the University of Western Ontario, and a Bachelor of Laws (LLB) from Western University.

The Endowment Board and staff recognized the achievements of outgoing board members Mark Emmerson, Kevin Schuyler and Caroline Dauzat. Emmerson was chairman of the Endowment board in 2022 and is chairman, chief financial officer, and a member of the board of directors of Sierra Pacific Industries. Schuyler is senior managing director of CornerStone Partners and served as the Endowment’s treasurer. Dauzat is a fourth-generation owner at Rex Lumber and has been a member of the Endowment’s board since 2020.

Martin Sustainable Resources LLC of Alexandria, La. has donated $1 million to Louisiana Tech as a leadership gift toward construction of the University’s new Forest Products Innovation Center (FPIC), with the assurance of another $1 million to be presented by this June.

The Center will be on South Campus and provide space for a transdisciplinary approach to solving the challenges associated with the timber industry. Groundbreaking is set for late spring.

“As the Chairman, CEO, and CFO of RoyOMartin, a subsidiary of Martin Sustainable Resources, I am excited to be the lead investor in Louisiana Tech University’s Forest Products Innovation Center,” Roy O. Martin III says. “The Center will play a key role in driving research and identifying sustainable solutions for wood products. I look forward to collaborating and working together in the new state-of-the-art center, where transformational discoveries will become innovative solutions, successfully increasing forest productivity in the region.”

The new building will provide space for research collaborations, not only within the forestry industry, but also with other state and national industry partners. Academic programs in forestry, agriculture, biology, engineering, science and other disciplines will all contribute to the learning, research and service created by the FPIC.

“I look forward to the successful opportunities that the Louisiana Tech University’s Forest Products Innovation Center will offer by serving as an essential link between University research and the needs for adopting new practices, technologies, and products for the forest and timber industry,” Scott Poole, President and Chief Operating Officer, RoyOMartin adds. “Innovation is the key component to the Center’s success, and Louisiana Tech University exemplifies an innovative-driven culture for learning and research.”

Although the interdisciplinary FPIC will be driven by Forestry, there will be a valuable Engineering and Science collaboration. The FPIC will house wood processing and testing labs as well as chemical engineering labs where industry can work with research faculty and students.

In addition, a U.S. Forest Researcher will be housed in the FPIC to bring another research perspective and identity to the Center that will provide more opportunities for enhancing the sustainability of forests and forest-related industries.

The University welcomes industry and private contributions to help secure funding needed to achieve the goal of developing the FPIC.

Kadant Inc. has completed its previously announced acquisition of Key Knife, Inc. and some of its affiliates for approximately $156 million in cash, subject to certain customary adjustments. The acquisition was financed primarily through borrowings under Kadant’s revolving credit facility.

Key Knife, a global supplier of engineered knife systems for custom chipping, planing, and flaking solutions for wood product industries, is headquartered in Tualatin, Ore. with 141 employees located primarily in the U.S. and Canada. Key Knife’s revenue for the trailing twelve months ending September 30, 2023 was approximately $65 million. Key Knife will become part of Kadant’s Industrial Processing reporting segment.

“We are pleased to complete this transaction and welcome our new colleagues from Key Knife to the Kadant family,” says Jeffrey L. Powell, President and CEO, Kadant. “Our acquisition of Key Knife expands our product portfolio and strengthens our respective positions in wood processing industries. We look forward to extending Key Knife’s strong brand into new markets and leveraging Kadant’s global sales network.”