Boise Cascade Reaches Agreement to Sell its North Carolina Plywood Mill

SEATTLE (Scrap Monster):  Boise, Idaho-based Boise Cascade Company has entered into an agreement with an affiliate of Fitzgerald, GA-based Southern Veneer Products towards sale of its plywood mill operations in Moncure, North Carolina. The facility employs approximately 150 people. It must be noted that Southern has been a veneer supplier for Boise Canada for more than a decade.

Ken Adams, president of Southern Veneer Products stated that the company is excited with the new agreement as the addition of the Moncure mill is in line with the company’s strategy to expand its geographic presence and diversify its product portfolio. Welcoming all the employees to the team, Adams announced that the company intends to make significant investments in equipment upgrades at the acquired facility, in order to make full use of the plant’s production capacity.

The acquisition of the N.C plywood mill, coupled with committed capital investments at its Chester, Florien and Oakdale facilities is expected to ensure Southern’s veneer capacity.

The sale is subject to the results of the due diligence process, which is expected to be completed by Q1 2019.

Boise Canada is a leading manufacturer and distributor of building materials such as engineered wood products and plywood.

Southern Veneer Products is a leading manufacturer of Southern Yellow Pine plywood, veneer and wood byproducts in the southeastern U.S.