A Jackson County court OKs the $3.6 million purchase of the former Panel Products plant.
A Jackson County Circuit Court judge has approved Murphy Co.’s $3.6 million purchase of the former Panel Products plywood plant in Rogue River, bringing new hope for timber jobs in Southern Oregon.
While no date has been set for when the plant will be back in operation, the plant is expected to provide up to 150 jobs to the area.
“We’re in the process of preparing the documents for closing now, and I’m confident the closing will be done before the end of the month, at which point Murphy Co. will be the titled owner,” said Kim Short, of R.K. Short and Associates of Eugene, the court appointed receiver who began working on the matter last May.
“It’s a great outcome for people in Southern Oregon,” Short said. “They don’t have that many employers in that industry with wood products in decline so significantly in recent years. Seeing the way so many plants are closing in Oregon and Washington, with Murphy stepping in and willing to acquire (the mill) in a down market, it’s a phenomenal opportunity.”
Read the full story at the Mail Tribune.
{biztweet}Murphy Co. Panel Products{/biztweet}
