Industry News
NewWood Manufacturing Inc. Getting Closer to Market
6 years, 5 months ago Posted in: Industry News 0

With The Announcement of Goodrich Capital LLC as Financial Advisor to NewWood Manufacturing Inc., Company Should Begin to Move ”Green” Composite Building Materials To Market.

This press release on Thursday from NewWood Manufacturing Inc. sends a clear “full steam ahead” for the reopening of the former Boise Cascade composite siding plant.

“We are pleased to announce Goodrich Capital LLC acted as exclusive financial advisor to NewWood Manufacturing, Inc., a producer of highly versatile wood-plastic composite building materials, in securing a special funding vehicle to capitalize the business and begin production in a 275,000/sf manufacturing facility. The funding enabled NewWood to acquire rights to the state-of-the-art operation that had previously been developed by Boise Cascade. This funding will enable NewWood to bring the manufacturing plant online and begin marketing efforts. The NewWood initiative is intended to service a growing market demand for green build products. It further underscores the company’s commitment to sustainability through the 170 million pounds of wood and plastic that the company expects to recycle into building products annually. Goodrich Capital LLC operated in an expanded advisory capacity in the transaction to include identifying strategic partners as part of a broader business and financial development plan. This is in keeping with the firms focus on supporting emerging high-growth category opportunities with creative business building solutions.”

It will be interesting to see what new applications of the composite technologies NewWood will be bringing.  At it currently stands, they are in the process of actively recruiting personnel to operate the plant in Elma, WA.

About NewWood Manufacturing Inc.
NewWood Manufacturing Inc., owned by NewWood Corporation, is a sustainable wood-plastic composite building material manufacturer that owns and operates a world class facility located in Elma, Washington. The company recycles local urban wood and plastic waste and transforms it into utility boards that are more sustainable “green”, durable, flexible and sanitary than current wood-plastic composite products on the market. The utility boards can be fabricated into fruit bins, pallets, crates, and other potential products in the future. For additional information about NewWood please visit http://www.NewWoodCorp.com.

About Goodrich Capital LLC
Goodrich Capital LLC, International Corporate Growth Advisors, assist middle market companies with revenues of $25M to $250M in accelerating enterprise development. The focus is on delivering sustainable business growth through strategic affiliations and funding sources that support a company’s long term vision. The firm uniquely aligns a growth strategy, people and capital in creating added value. Goodrich Capital has deep sector expertise in the consumer products, health care, “green” products/technologies, and manufacturing. For more information visit us at http://www.goodcap.com, by phone 212-973-9400, by mail 52 Vanderbilt Avenue, New York, NY 10017, by email to Whitney Williams at wwilliams@goodcap.com or to Jeffrey Albus at jalbus@goodcap.com.

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