Mercer International Inc. receives bankruptcy court sales order approval to acquire a CLT facility

Mercer International Inc. (Nasdaq: MERC). The Company is pleased to announce that today it received approval from the applicable Bankruptcy Court for a sales Order approving the acquisition by its wholly-owned subsidiary of a state-of-the-art CLT manufacturing facility located at Spokane, Washington (the “Facility”) for a price of $50 million, subject to customary adjustments. The closing of the sale is scheduled to occur shortly.

The Facility:

is located on 54 acres of land near Spokane and has an area of about 270,000 square feet;
is equipped with state-of-the-art extensive automation technologies including one of the largest CLT presses in the world;
has capacity of approximately:
(a) 13 million sq. ft. of 5-ply panels annually or 140,000 cubic meters of annual production based on 5-day operations ; and
(b) represents about 30% of the current North American mass timber manufacturing capacity.
https://mercerint.com/news/2021/mercer-international-inc-receives-bankruptcy-court-sales-order-approval-to-acquire-clt-facility/

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