Temple-Inland Acquires Two MacMillan Bloedel MDF Plants

Temple-Inland is acquiring MacMillan Bloedel's medium density fiberboard (MDF) plants at Pembroke, ON, and Clarion, PA, for approximately C$160 million. The plants each have an annual production capacity of around 130 million ft² of MDF. The transaction is scheduled to close by the end of the third quarter.

With the acquisitions, Temple-Inland will have the annual capacity to produce approximately 410 million ft² of MDF and 610 million ft² of particleboard, furthering its position as one of North America's leading producers of composite panels.

"The acquisition of these quality facilities represents a significant step in our strategy to grow our building products group," said Clifford Grum, chairman and CEO of Temple-Inland. "These facilities complement our new MDF plant in El Dorado, AK (joint venture with Deltic Timber), and give us additional capacity and geographic reach to provide high quality MDF to these fast-growing markets."

Based in Diboll, TX, Temple-Inland is a major manufacturer of paper, corrugated packaging, and building products, with financial services operations in mortgage and consumer banking.