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A newly-formed Mass Timber subsidiary of Western Forest Products, Vancouver, B.C., has agreed to buy certain assets of glulam manufacturer Calvert Co., Vancouver, Wa., for $12 million, including $2.5 million in inventory.
Calvert is one of the oldest glulam manufacturers in the U.S. with more than 60 years of experience producing high quality glulam beams in multiple species for industrial, commercial and residential projects around the world. Calvert has manufacturing plants in Washougal and Vancouver, Wa., with a combined annual glulam capacity of 35 million bd. ft. on a two-shift basis. Its operations employ approximately 60 employees and produced 13 million bd. ft. of glulam in 2021 on a single shift.
“We are excited to welcome Calvert’s employees to Western. This acquisition will help position Western to capitalize on the growing North American Mass Timber building market and is consistent with our strategy of moving up the product value chain and growing our portfolio of value added products,” said Don Demens, Western’s president and CEO. “We look forward to working with Calvert’s owner, Doug Calvert, who will be remaining with Western following the closing of the transaction in a consulting capacity.”
The deal is expected to close in the third quarter of 2022. As part of the transaction, Western has created a new engineered wood subsidiary, which will remain focused on further growth opportunities throughout the entire Mass Timber value chain.