Press Releases
NewWood Corporation Acquires Wood Plastic Composite Manufacturing Facility from OfficeMax
October 28, 2010
George P. Shenas, Inc. represented NewWood Corporation in connection with the closing of NewWood's acquisition on October 28, 2010, from OfficeMax Incorporated, of a 297,000 square foot wood plastic composite manufacturing facility. The firm was instrumental in identifying and negotiating the funding of substantial loans to finance the acquisition through a combination of two different government stimulus programs, involving a USDA B&I Guaranteed Loan and a New Market Tax Credit program. NewWood's operation will be located in Elma, Washington at Satsop Development Park, which was originally intended to house a nuclear power plant. For a description of NewWood's operation and its products, please view the video.