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Millennium Decking Extruders Sold Off
6 years, 1 month ago Posted in: Industry News 0

Westech buys Wood Composite Technologies decking extrusion lines

By Bill Bregar SOURCE: Plastics News

EVANSVILLE, IND — 05/31/2011  — Westech Building Products Inc., part of resin maker Westlake Chemical Corp., has purchased three decking extrusion lines from Canada-based Wood Composite Technologies Inc. for $511,350.

Wood Composite, which is shutting down in Nisku, Alberta, disclosed the purchase price in a public filing on the TSX Venture Exchange. Westlake had been leasing the lines to do custom extrusion since fall of 2009.

Wood Composite made wood-plastic composite decking under the Millennium Decking brand.

Dave Hansen, Westlake Chemical senior vice president, said the sale involves three production lines. Westech did not buy the Alberta factory building, he said.

Evansville, Ind.-based Westech runs a PVC fence and railing extrusion plant in Mount Vernon, Ind., and a window extrusion operation in Calgary, Alberta. Hansen said company officials are not disclosing any plans to relocate the machinery.

At the annual meeting May 10, shareholders authorized directors to sell all the assets of Wood Composite Technologies. About a month earlier, the company announced it was selling its pellet mill plant in Nisku to DiCorp Properties Inc. for $2.3 million.

John Greenwood, president and CEO of Wood Composite, did not return telephone calls for this story.

Wood Composite Technologies reported 2010 sales of $1.6 million, a 40 percent decline from $2.7 million in 2009. The company lost $3.2 million in 2010 and $2.3 million in 2009.

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