With the acquisition of Katerra’s Spokane site in Washington state, US forest products company Mercer International officially enters the cross-laminated timber industry. On August 3, Mercer received approval from the applicable Bankruptcy Court for a sales order approving the acquisition of the site by its wholly-owned subsidiary for a price of $50 million. According to the company, the closing of the sale is scheduled to occur shortly.
Highly automated and equipped with one of the world’s biggest CLT presses, the Spokane site is said to have an annual production capacity of 140,000 m³, according to Mercer.
Founded in 2015 as a small design office in Silicon Valley, Katerra collected over US-$2 billion over the past six years and created over 8,000 jobs worldwide. On June 6, the US construction start-up filed for reorganization or restructuring under Chapter 11 of the US Bankruptcy Code.
