Idaho-based Boise has bought Wood Resources LLC’s south-east operations, comprising Chester Wood Products and Moncure Plywood for US$102m.
South Carolina-based Chester produces softwood plywood panels and veneer for a variety of end markets, while Moncure, based in North Carolina, is a flexible speciality plywood mill producing both hardwood and softwood panels.
Wood Resources said it had sold the mills to focus its efforts and investment on its two plywood operations in the Pacific north-west. The company had originally acquired Chester and Moncure from Weyerhaeuser in 2004.
Boise has seen its sales and profits soar on the back of a rejuvenated housebuilding industry. An initial public flotation on the stock exchange back in February also raised US$262.7m in capital.
