American Industrial Partners Signs Agreement to Acquire Weyerhaeuser’s Northwest Hardwoods Business UnitJune 29th, 2011 | Category: Industry News
American Industrial Partners (AIP) has announced that it has entered into a definitive agreement to acquire the worldwide hardwoods and industrial products business unit from Weyerhaeuser Co. The transaction is expected to close in August of this year. The future business will operate as Northwest Hardwoods Inc., headquartered in Tacoma, Wash., with operations in the United States, Canada, China, Japan and Hong Kong, according to the company.
“We could not be more pleased to add Northwest Hardwoods to our portfolio of market leading operating companies,” says Rick Hoffman of AIP. “AIP is acquiring a business with experienced employees, outstanding quality products, highly automated and efficient sawmills, and an attractive worldwide customer base that relies on Northwest Hardwoods for essential products and services.”
Nancy Arend, vice president of Northwest Hardwoods, adds, “We very much look forward to partnering with the American Industrial Partners team. We have developed a go-forward operating agenda focused on expanding our customer base and geographic sales regions, implementing manufacturing best practices, and continuing to enhance our market leading cost position on a global basis.”