OXFORD, Ala. — Kronospan, a leading producer of wood panel products, has executed an asset purchase agreement with Roseburg Forest Products to acquire Roseburg’s Simsboro, La., particleboard facility.

Details of the deal were not disclosed. Completion of the acquisition is subject to customary closing conditions, including receipt of regulatory approvals. After the closing, the Simsboro plant will accelerate the growth of Kronospan’s wood panel production in North America.

“The acquisition of the Simsboro mill, along with its talented and experienced team of managers and associates, will allow us to bring products to market more efficiently and will improve service to our customers,” said Hans Obermaier, CEO of Kronospan’s North American operations.

Kronospan plans to modernize the Simsboro particleboard facility. “Given Kronospan’s plan to continue modernizing and operating the mill, this is good news for the longevity of the Simsboro facility and our 176 team members who work there,” said Stuart Gray, Roseburg president and CEO. “Simsboro has been a high-performing asset for Roseburg, and we believe it will continue to deliver value for its new owners.”

Roseburg is heavily invested in the composites industry, manufacturing particleboard and MDF at plants across North America. The company recently announced significant investments in two new composite plants located in Dillard, Ore., which will manufacture medium and high-density fiberboard and MDF trim suitable for exterior applications.

Kronospan began operations in 1897 as a sawmill in Lungotz, Austria. A privately held, family owned company, Kronospan employs about 14,000 people and operates wood‐based panel production facilities worldwide. In the U.S., Kronospan currently operates two modern manufacturing locations in Alabama and Pennsylvania – servicing the market with MDF and particleboard, decorative products, and laminate flooring.