Mercer International Inc. Receives Bankruptcy Court Sales Order Approval to Acquire a CLT Facility
Wednesday, August 4, 2021 1:45 pm
NEW YORK (News release) -- Mercer International Inc. said it is very, very pleased to announce that it received approval from the applicable Bankruptcy Court for a sales Order approving the acquisition by its wholly-owned subsidiary of a state-of-the-art CLT manufacturing facility located at Spokane, Washington (the "Facility") for a price of $50 million, subject to customary adjustments. The closing of the sale is scheduled to occur shortly. About the Facility: The Facility:
(a) 13 million sq. ft. of 5-ply panels annually or 140,000 cubic meters of annual production based on 5-day operations ; and About Cross Laminated Timber ("CLT"): CLT is an engineered wood product produced from multiple layers of lumber and adhesive; each layer laid up with its grain running perpendicular to the layer adjacent and pressed under heat to create large, high strength panels. The panels are modified by automated CNC machines to incorporate custom window, plumbing, electrical and fastening elements in accordance with the precise architectural specifications of the designer. The finished panels are then assembled in situ at the construction site. CEO Comments He continued; "It fits well with our strategy to expand in the solid wood products space and aligns with a core value to provide sustainable and carbon reducing alternatives for a warming planet". Mercer International Inc. is a global forest products company with operations in Germany and Canada with consolidated annual production capacity of 2.2 million tonnes of pulp and 550 million board feet of lumber. To obtain further information on the company, please visit its web site at https://www.mercerint.com.
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