ROSEVILLE, CA – SierraPine Ltd. said it will divest its two remaining composite panel mills to Roseburg Forest Products and Timber Products Co. The news was announced Aug. 11.
Roseburg Forest Products Co. will buy SierraPine's medium-density fiberboard facility in Medford, OR. Details of the transaction, expected to close mid to late September, were not released.
Roseburg CEO Allyn Ford said the addition of the Medite brand will complement Roseburg's existing particleboard and thermally fused laminate product lines. “This acquisition will bring with it a variety of niche products that will enhance Roseburg’s value in the market. The Medford, Oregon plant is a well-run facility and we anticipate a smooth transition. The acquisition represents a key strategic move for Roseburg in our composite panel business.”
SierraPine President Jeff Johnson stated, “SierraPine will work with Roseburg to ensure a smooth transition of the facility to the new ownership. In the meantime, we will continue to conduct business in the same manner as our customers have come to expect. We feel Roseburg offers a strong organization and commitment to the on-going success of the Medford operation.”
In related news, SierraPine said it will transition its Martell, CA, particleboard operation to Timber Products Co. The Martell particleboard facility will continue as Ampine, a Division of Timber Products.
SierraPine noted in a statement that both the closing of the agreement with Roseburg and the transition of the Martell location to Timber Products, are subject to customary conditions, including regulatory approval.
Both SierraPine's Medford MDF mill and Martell particleboard operation were among those Arauco subsidiary Flakeboard sought to purchase in 2014. The two panel producers mutually agreed to terminate the asset purchase agreement in October following objections by the U.S. Department of Justice.
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