M&A

Over the next twelve months, Carter Lumber plans to invest heavily in Townsend’s current locations to expand capabilities and services for customers across southeastern Alabama and the Florida Panhandle.

The company will operate under the new name Pagnoni DieffenbacherS.r.l. The acquisition includes the assets and expertise of the plant manufacturer and the four-person team led by Managing Director Michele Pagnoni.

HG Timber operates eight high speed automated and robotic production lines producing 2-way and 4-way pallets, with the capacity to manufacture in excess of 1.8 million timber products every year on a single shift basis.

The acquisition comprises seven corrugated converting plants, two solid board mills and four solid board converting plants. These operations complement Mondi’s existing network of corrugated plants across Central and Eastern Europe, adding over 1 billion square meters of capacity when fully operational.