Contact: Tom Thieding, 608-210-6767 tom.thieding@wedc.org
Link to Release: http://inwisconsin.com/newsroom/
WEDC provides loan guarantee to assist in integration
MADISON, May 23, 2013 – Architectural Forest Products, Two Rivers, Wis., is expected to double its production capacity of specialized wood products, following the merger of a Two Rivers and Canadian wood products company.
Architectural Forest Products manufactures world class veneered architectural products for some of the finest buildings, stores, homes and yachts in the world on its 51,000 square foot facility in Two Rivers. Their products include veneer for furniture, wall panels, doors, ceiling panels, elevator panels, equipment, lockers, movable partitions, millwork and cabinetry.
Architectural Forest Products LLC, was recently formed with the asset merger of Architectural Forest Products Inc., Two Rivers, and Architectural Wood Products in Vaudreuil, Canada, which is currently owned by Krueger International (KI). With the merger, Architectural Wood Products’ assets have been relocated to Two Rivers, which is expected to double the sales of Architectural Forest Products and add up to18 employees to the operation.
“This merger is allowing us to become more efficient by eliminating redundant costs and reducing freight expense,” said Jason Krings, president of Architectural Forest Products.
“By combining the entities we will double AFP’s top line sales. In combination with the increased sales KI will substantial reduce out inbound freight cost, due to AFP’s close proximity to our existing manufacturing locations in northeast Wisconsin,” Tom Abrahamson of KI added.
The planned capital investment is supported by the Wisconsin Economic Development Corporation (WEDC), which is providing a $565,000 loan guarantee for a working capital line of credit.
“We are pleased to be a partner with Architectural Forest Products to help them secure the working capital they need to expand operation,” said Reed Hall, secretary and chief executive officer of WEDC.
About Wisconsin Economic Development Corporation
The Wisconsin Economic Development Corporation (WEDC) leads economic development efforts for the state by advancing Wisconsin’s business climate. WEDC nurtures business growth and job creation by providing resources, technical support and financial assistance to companies, partners and communities in Wisconsin. WEDC has four focus areas: business and industry development, economic and community development, entrepreneurship and innovation and international business development. Together with more than 600 regional and local business development partners, it represents a highly responsive and coordinated network. Visit http://www.inwisconsin.com or follow WEDC on Twitter @_InWisconsin to learn more.
