Murphy Co of Eugene, Oregon has signed an agreement to purchase Panel Products’ shuttered plywood plant in Rogue River for US$3.6, just hours before the facility was put up for auction, reports the Mail Tribune.
The 164,000ft2 plant and its equipment and buildings on 51 acres were due to be put up for auction in December if a buyer did not come forward.
The Rogue River mill was one of two Jackson County panel products plants that went into receivership in May, after Umpqua Bank, one of the company’s three secured creditors, filed for the appointment of a receiver.
