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Kronospan, a prominent producer of wood panel products, recently announced their acquisition of Woodgrain's particleboard facility located in Island City, Oregon.
This strategic move will bolster Kronospan's standing in the North American wood panel market and is a testament to the company's dedication to its expansive growth strategy. The Oregon facility acquisition adds to Kronospan's U.S. manufacturing operations, which includes locations in Alabama, Louisiana and Pennsylvania.
“I’m very excited about today’s announcement," said Hans Obermaier, CEO of Kronospan’s North American operations. "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.”
Kronospan has expressed its intent to invest in the modernization of the Island City plant upon completion of the post-acquisition period.
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 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.
