Ilim Timber Industry having acquired Tolleson Lumber becomes Top-10 largest global sawmill producer
The acquisition in North America is the next step in ITI’s strategy to become an industrial global leader in terms of presence in the key markets of Asia, Europe and America, efficiency and volumes of production. With the acquisition of the two Tolleson sawmills ITI’s global production capacity now exceeds 1.65 billion board feet (3.9 million cubic meters) and broadens to include southern yellow pine.
Through partnership with senior management, ITI is joining forces with a nationally recognized team led by Mr. Rusty Wood. The Tolleson team has implemented a unique management system which has enabled Tolleson to lead the industry in terms of efficiency and to generate positive results throughout the recent downturn.
“Tolleson’s reputation in the industry and management’s solid vision for future development became the key decision factors for us in choosing this company in North America. Tolleson will become a cornerstone for further expansion in the US which is a part of our business strategy” – stated Boris Zingarevich, Chairman of the Board of ITI.The deal was organized under financial support and advice by Sberbank (Russia).