Boise Cascade Co. has received antitrust clearance from the United States Department of Justice to proceed with its previously announced acquisition of Georgia-Pacific LLC’s engineered lumber production facilities located at Thorsby, Alabama, and Roxboro, North Carolina. Boise Cascade plans to complete the acquisition by the end of March 2016.
The Thorsby facility produces laminated veneer lumber (LVL). The Roxboro facility currently produces I-joists. Roxboro’s LVL production assets are currently idled. Boise Cascade expects to invest capital and hire additional employees to increase production at these mills in 2016 and beyond to obtain significant logistics benefits as well as to meet expected growth in new residential construction. Boise Cascade believes the addition of Thorsby and Roxboro will increase LVL billet capacity by 9 million cubic feet and I-joist capacity by 80 million lineal feet.
“We are pleased to be expanding our engineered wood products business and positioning ourselves to support customers as the U.S. housing recovery continues in the years ahead,” said Tom Corrick, CEO of Boise Cascade, when the acquisition was first announced.
“The additional engineered lumber capacity at Thorsby and Roxboro fit very well with our existing production facilities and will help us cost effectively deliver products to our customers. There are tremendous opportunities to optimize our mill system, and realize freight and other cost synergies. The acquired mills are located in attractive wood baskets with competitive fiber costs and improve our ability to support high growth housing demand.”
From Woodworking Network: https://www.woodworkingnetwork.com/news/woodworking-industry-news/boise-cascade-gets-antitrust-clearance-engineered-lumber-acquisition?ss=news,news,woodworking_industry_news,news,almanac_market_data,news