Richmond plant part of Doman Lumber acquisition
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A U.S. subsidiary of Vancouver-based Doman Building Materials Group Ltd. is expanding its presence in Indiana. Doman Lumber has acquired the assets of Southeast Forest Products Treated Ltd., including a lumber pressure treating plant in Richmond.
Financial terms of the acquisition are not being announced other than it was an all-cash deal. However, a spokesperson for Doman told Inside INdiana Business the company plans to retain the Richmond plant’s more than 20 employees and add more jobs as business grows.
Doman also acquired a lumber pressure treating plant near Birmingham, Alabama. The company said the deal adds about 300 million board feet of annual treating capacity to the Doman Lumber platform.
“The plants complement our central U.S. operations and strengthen our footprint by introducing coverage in eight new states, including the strong southeastern U.S. markets and select Eastern states,” CEO Amar Doman said in a news release. “This strategic acquisition exemplifies our strategy of adding scale and volume to our U.S. operations in pressure treated lumber and specialty wood products.”
Doman also operates a treatment facility in Vincennes that employs 10 workers.
The company bills itself as one of North America’s largest producers of pressure treated lumber products with 32 operating plants and about 2,100 employees across its entire footprint.