Friday, January 26, 2024
Boise Cascade recently initiated new investments in Alabama and Louisiana in support of its engineered wood products (EWP) growth strategy. The company is ready to invest additional $140MM for further growth.
The company is adding I-joist production capabilities to its Thorsby EWP mill and converting a plywood layup line to a parallel laminated veneer line at the Chapman plywood facility in Alabama.
The Chapman investment adds important integration into the Company’s EWP growth plans. In addition, our Chapman plywood facility extended employment opportunities to approximately 50 of the 80 associates affected by the recently announced Chapman lumber operations curtailment. At our Oakdale, Louisiana facility, major projects planned include the upgrade and redesign of the log utilization center, a new veneer dryer and press, and modification of an existing veneer dryer. These investments are expected to take place over a two-year period.
“We are looking forward to these major expansions and upgrades to further solidify our market position in EWP,” said Chris Seymour, SVP, Wood Products Manufacturing Operations. “We have great teams in the southeastern U.S. and are pleased to further invest in our meaningful asset bases in Alabama and Louisiana.”
The company’s total current estimate of capital expenditure for 2024 is $250 million to $270 million. This range includes the investments above and spending on the previously announced greenfield distribution centers in Hondo, Texas and Walterboro, South Carolina in our Building Materials Distribution segment.
As a leading manufacturer and wholesale distributor of building materials, Boise Cascade brings people, products and services together to build strong homes, businesses and communities. The company has 60 locations across North America. The company values integrity beyond the structural strength of its products and commits to bring the best on the market. With further prospective investments, the company plans to strengthen its services while rendering its services to the customers.
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Tags: boise cascade, EWP growth strategy, Investment, wood and panel, woodworking, woodworking industry, woodworking USA
