Wednesday, June 7, 2023
CMPC one of the leading South American wood product companies has planned to expand in the United States with the acquisition of Powell Valley Millwork. Executives from CMPC have signed a concrete business deal for Empresas CMPC SA with Powell Valley Millwork. The company took the fundamental step of acquiring the Heritage Millworks LLC dba Powell Valley Millwork to bring its radiata pine manufacturing project to the U.S.
Francisco Ruiz-Tagle, CEO of CMPC expressing his view about the move pointed out that, “This investment decision is an important step in our strategic growth plan in the United States and brings us closer to our customers in North America which is a fundamental pillar of our strategic plan”. The company realizes that the natural fiber-based products are now a crucial part of the economy, thus it takes the strategic step to accelerate their growth with their products. This alliance will benefit the market on a larger scale as both the congregation plan to work together to serve the larger market. CMPC and Powell Valley Millwork plan to handle the production of both poplar and radiata pine production, as they have set plan to produce supply volume across the North America with a strong customer service.
Powell Valley Millwork, one of the largest North American wood product manufacturers also intends to grow under this new ownership. Jimmy Thornberry, President of Powell Valley Millwork confidently points out that “The decision to partner with CMPC marks the beginning of an exciting new chapter for the Powell Valley family and I am glad to share the news with our team, customers, and vendors,” Thus, the companies plan to enhance their service and logistics capabilities to all the customers through this fresh growth, while holding onto their places in the ever evolving and dynamic market. Both the companies see this strategic step as an opportunity that will fuel the expansion of production at both the production sites to maintain the existing and new production plans. To mark this plan Juan Pablo Pereira Sutil, Managing Director, CMPC Wood has even stated that, “By combining our production capabilities, we aim to secure a larger market share and introduce a broader range of products, including radiata pine and poplar offerings, while serving our customers with a much stronger value proposition.”
Tags: CMPC, Empresas CMPC SA, Heritage Millworks LLC dba Powell Valley Millwork, Powell Valley Millwork, wood, wood and panel, woodworking, woodworking and manufacturing, woodworking industry, woodworking USA
