American Industrial Partners has inked a definitive deal to buy the global industrial and hardwood products business division from Weyerhaeuser. The company anticipates closing of the deal in August 2011.
The new business will function as Northwest Hardwoods and will be based in Tacoma, Washington. The company has operations in the US, Hong Kong, Japan, China and Canada. It produces and markets 15 varieties of quality hardwood lumber products in North America. It runs seven main sawmills, four remanufacturing plants facilities, four concentration yards and one merchandizing log yard, all are located in the US.
According to Rick Hoffman of American Industrial Partners, the company is happy to include Northwest Hardwoods to its portfolio of companies. The company is buying a business with skilled workers, superior quality products, effective and automated sawmills and global customer base, he added.
Joel Stanwood of American Industrial Partners commented that the company’s sales are associated with remodeling, general repair and housing starts in the housing market. The company can fulfill the requirements of these depressed segments, which will improve in the coming years, he added.
Northwest Hardwoods’ Vice President, Nancy Arend commented that the company has designed a go forward operating plan that is focused on extending geographic sales markets and customer base, executing best production practices and strengthening its market position in terms of cost. Northwest Hardwoods’ Vice President of Sales and Marketing, David Weyerhaeuser stated that the company appreciates the loyalty of its customers.