Sumitomo Forestry America Acquires Teal Jones Louisiana Mill
In early April, Sumitomo Forestry Co., Ltd. announced that its Board of Directors has agreed to acquire 100% of the shares of Teal Jones Louisiana Holdings, LLC (TJLH) through its wholly owned subsidiary Sumitomo Forestry America, Inc. (SFAM) and will begin the procedures to make TJLH a consolidated subsidiary.
As part of the acquisition, Sumitomo will gain the Teal Jones-Plain Dealing southern yellow pine dimensional lumber mill in northern Louisiana that has been plagued by machinery and production issues since its announced startup. It is unclear if the facility ever fully ramped up to its nameplate capacity. Sumitomo Forestry announced plans to make the sawmill a wholly owned subsidiary with the aim to expand its business and build a stable materials supply system for its overseas housing business and real estate business through sawmill operations in the U.S. South and the sale of wood lumber products, such as dimensional lumber.
The acquisition will be carried out in accordance with procedures outlined under the Companies’ Creditors Arrangement Act of Canada and Chapter 15 of the U.S. Bankruptcy Code. It is subject to approval by the courts of Canada and the U.S. Following the completion of all due diligence, SFAM hopes to complete the acquisition by the second quarter of fiscal year 2025.
Latest News
Oregon Truckers File Suit Against State
Rob Freres, president of Oregon-based Freres Engineered Wood, a manufacturer of lumber, veneer, plywood and mass timber, has thrown in his support for a lawsuit filed by the Oregon Trucking Assn. and three Oregon-based trucking companies against the state of Oregon for overcharging truckers under the weight-mile tax.
Hasslacher Enters North America
Austria-based Hasslacher group is acquiring a stake in Element5, a mass timber producer specializing in the design, manufacture and assembly of modern engineered timber buildings. Based near Toronto, Can., Element5 employs more than 100 and produces cross-laminated timber and glued laminated timber for the North American market.
Hampton Lumber Purchases Rebuilt
Atlas Holdings has entered into an agreement to sell RedBuilt, LLC to Hampton Lumber Mills, Inc. Atlas formed RedBuilt with the acquisition of the commercial division of Trus Joist from Weyerhaeuser Co. in 2009. Over the next 14 years, the company became an industry leader in the engineering, design and manufacturing of proprietary wood-based structural solutions serving the low-rise commercial construction market. The transaction is anticipated to close in the first quarter of 2024.
Peak NA, Fehr Purchase RPM
Registration is now available for the 2024 Western Wood Producers Assn. (WWPA) Annual Meeting. The meeting will be held at the Hotel Indigo in Vancouver, Wash., April 14-16. To register for the event visit, https://www.wwpa.org/about-wwpa/annual-meeting. To take advantage of the group rate, visit the Hotel Indigo website, and use group code WWP. The deadline for the group rate is March 14, or until the room block is sold out…
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.