Mercer International Inc. receives bankruptcy court sales order approval to acquire a CLT facility

Mercer International Inc. (Nasdaq: MERC). The Company is pleased to announce that today 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.

The Facility:

is located on 54 acres of land near Spokane and has an area of about 270,000 square feet;
is equipped with state-of-the-art extensive automation technologies including one of the largest CLT presses in the world;
has capacity of approximately:
(a) 13 million sq. ft. of 5-ply panels annually or 140,000 cubic meters of annual production based on 5-day operations ; and
(b) represents about 30% of the current North American mass timber manufacturing capacity.
https://mercerint.com/news/2021/mercer-international-inc-receives-bankruptcy-court-sales-order-approval-to-acquire-clt-facility/

Related Posts

Launch of sales process for Norske Skog AS

Norske Skog AS has appointed Evercore Partners International LLP (Evercore) to act as its financial adviser in connection with a sale of Norske Skog AS and its subsidiaries (the Norske Skog group's operating businesses) by way of a competitive sale process which will commence imminently. A range of bidders will be invited to participate in the competitive sale process. Norske Skog group's seven paper mills will continue as normal, and our customers, suppliers and other business partners will continue to receive high quality products and services from Norske Skog without interruption throughout the competitive sale process. Click Read More below for additional information.

Monadnock Paper Mills Earns Gold Status in Ecovadis Corporate Social Responsibility Ratings

Monadnock Paper Mills, Inc., the oldest continuously operating paper mill in the United States, is pleased to announce that it has earned a gold rating in the EcoVadis Corporate Social Responsibility (CSR) assessment. This achievement places the company in the top eight percent of the 90,000 companies ranked by EcoVadis. The company has achieved a 30% increase in its performance level since earning a silver rating in its assessment in 2015. Monadnock is FSC® (Forest Stewardship Council®) certified (FSC C018866) ensuring that the fiber it sources comes from responsibly managed forests and recycling facilities that meet the highest environmental and social standards. Its products are manufactured carbon neutral, and they use 100% renewable Green-e certified wind-powered electricity, all under a third-party certified ISO 14001 Environmental Management System.

WestRock Provides Update on Ransomware Incident

WestRock Company provided the following update on its ransomware incident which was announced on Jan. 25, 2021. WestRock’s security teams, supported by leading cyber defense firms, continue to work on remediation of and recovery from this incident. With some exceptions, the Company’s operations have continued to run and deliver for customers. In locations where technology issues have been identified, we are using alternative methods to process and ship orders. “We are working around the clock to complete our investigation and to restore normalized operations as quickly as possible,” said Steve Voorhees, chief executive officer. “WestRock teams are taking extraordinary steps to keep our mills and converting plants operational and to safely deliver to our customers.”
Back To Top
×Close search
Search