Columbia receives US$120m GE funding

Hardwood plywood and veneer manufacturer Columbia Forest Products has received a US$120m credit facility from General Electric (GE) Commercial Finance Corporate Lending to further its development.

The asset-based credit facility will be used to refinance existing debt and support ongoing working capital needs.

Columbia says it is North America’s largest manufacturer of hardwood plywood and veneer, operating from nine facilities in the US and Canada producing a range of products, including its formaldehyde-free PureBond hardwood plywood.

“In a challenging sector such as wood products, niche players who serve a variety of sub-sectors with superior products and customer service can differentiate themselves and maintain profitability,” said Will Sonnenfeld, timber and wood products industry leader at GE Commercial Finance Corporate Lending.

“Knowledge of the environment in which our clients operate allows us to understand their business objectives, recognise their value to the market and structure financing to help them succeed.”