Norbord Inc and Kruger Inc have announced an agreement in principle to form a joint venture to combine their respective hardwood plywood operations.
Following the creation of the new company, Kruger’s Longlac plywood facility will close down and all customers will be supported from the Cochrane site.
Eric Bisson, senior vice president, Forest and Wood Products, at Kruger said the joint venture would “secure ongoing business for both companies and provide a solid platform for the sustainable growth of our panel products by reaching more customers than ever before.
The decision to close Longlac will directly affect 130 employees, some of whom will transfer to the new venture.
