Atlas Holdings has completed the sale of Olympic Panel Products to Swanson Group Manufacturing LLC, a Pacific Northwest forest products company.
Located in Shelton, Washington, Olympic Panel is a subsidiary of New Wood Resources, and is the largest overlay plywood manufacturer 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," says 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."
Swanson Group plans to relocate the Olympic Panel assets in 2016 to its state-of-the-art facility that will be constructed in Springfield, Oregon. 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.
New Wood Resources will continue to own Omak Wood Products in Omak, Washington, 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, Mississippi, which was destroyed by an F4 tornado in 2014.
