Avarga subsidiary acquires US wood treatment company for $57.4 mil

SINGAPORE (July 3): Avarga, the investment holding company formerly known as UPP Holdings, says subsidiary Taiga Building Products is expanding its wood treatment business.

Taiga, through a wholly owned subsidiary, has entered into a share purchase agreement with Exterior Wood, Inc. to acquire all of the latter's shares for a purchase price of US$42 million ($57.4 million).

Exterior Wood has been operating a wood treatment facility and distribution centre in Washougal, Washington since 1977, and services retail building supply centers throughout the western US and Canada with a wide array of pressure treated products.

---

Related Stories

• Avarga appoints Lim Gooi Hwa as CEO of UPP Pulp & Paper Sdn Bhd
• Avarga reports record earnings and revenue for 1HFY2021, to pay second interim dividend of 0.42 cent
• Avarga declares interim dividend of 0.42 cent per share for 1Q21

---