LOUISIANA (News release) -- Kronospan has executed an asset purchase agreement with Roseburg Forest Products to acquire Roseburg's Simsboro, Louisiana, particleboard facility. Completion of the acquisition is subject to customary closing conditions, including receipt of regulatory approvals. After the closing, the Simsboro plant will accelerate the growth of Kronospan's wood panel production in North America.

Kronospan is committed to modernizing the Simsboro particleboard facility in the post‐acquisition period and has a proven track record in this regard from prior acquisitions.

"Given Kronospan's plan to continue modernizing and operating the mill, this is good news for the longevity of the Simsboro facility and our 176 team members who work there," Roseburg President and CEO Stuart Gray said. "Simsboro has been a high-performing asset for Roseburg, and we believe it will continue to deliver value for its new owners."

Roseburg is heavily invested in the composites industry, manufacturing particleboard and MDF at plants across North America. The company recently announced significant investments in two new composites plants located in Dillard, Oregon, which will manufacture medium and high-density fiberboard and MDF trim suitable for exterior applications.

Kronospan is a leading producer of wood panel products. A privately held, family owned company, Kronospan employs about 14,000 people and operates wood‐based panel production facilities worldwide. In the U.S., Kronospan currently operates two modern manufacturing locations in Alabama and Pennsylvania - servicing the market with MDF and particleboard, decorative products and laminate flooring.

Founded in 1936, Roseburg Forest Products is a privately owned timber and wood products company based in the United States. The company is one of North America's leading producers of medium density fiberboard. Roseburg also manufactures lumber, LVL, I-joists, and softwood and hardwood plywood.

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