Swanson Group Purchases Olympic Panel Products
Swanson Group Manufacturing LLC, a Pacific Northwest forest products company, announced that it has acquired the assets of Olympic Panel Products LLC. Located in Shelton, Wash., Olympic Panel is the largest overlay plywood manufacturer in North America. Terms of the transaction were not disclosed.
Swanson Group plans to relocate the Olympic Panel assets in 2016 to its state-of-the-art facility that will be constructed in Springfield, Ore. The new facility will continue to produce Olympic-branded products. During the next twelve to eighteen months, Olympic Panel Products will continue to operate in Shelton to ensure a smooth transition for all customers and suppliers.
Swanson executives believe Springfield, Ore. is the right location to maintain the Olympic Panel tradition of building the highest quality overlay products.
“Swanson is building a world-class plywood and veneer manufacturing facility in a location with an excellent workforce and log supply,” said Steve Swanson, president and CEO of Swanson Group. “We have long been impressed with the quality and depth of Olympic’s overlay product line and believe that this acquisition fits perfectly with our goal to become the leading producer of overlay panels in North America.”
“With our lease expiring next year, we needed to make a strategic, long-term decision and concluded that this transaction is the right step at this time,” said Kurt Liebich, CEO of New Wood Resources, which owns Olympic Panel. “While Swanson’s new facility in Springfield will eventually be the place where Olympic’s products are made, nothing with respect to our operations will change until 2016.”
New Wood Resources will continue to own Omak Wood Products in Omak, Wash., which produces softwood veneer for Northwest markets and Douglas fir plywood for specialty and commodity applications. New Wood Resources is also rebuilding the Winston Plywood & Veneer Mill in Louisville, Miss., which was destroyed by an F4 tornado in 2014.