Tacoma-based forest products company reportedly being offered for sale

Staff writerApril 28, 2014 

Tacoma's Northwest Hardwoods, the nation's leading manufacturer of hardwoods, is once again being offered for sale, the Wall Street Journal reports.

Once part of Weyerhaeuser Co., the hardwoods manufacturer and distributor sold in 2011 to American Industrial Partners as Weyerhaeuser trimmed and focused its portfolio of businesses.

The company, once based in Federal Way, moved its base of operations to Tacoma.

The Journal reported sources told the paper that Goldman Sachs has been retained to shop the firm.

A spokesman for Northwest Hardwoods declined to comment on the report.

"We're not ready to say anything at this time," he said.

The financial newspaper speculated that the company, which sold for $108 million less than three years ago, may offered for $700 million.

The company, which employs 50 workers at its A Street headquarters, owns a network of 10 mills in seven states.  The company's sales last year were reported to be about $480 million.

 

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