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ALEXANDRIA, Ontario - Alexandria Moulding announced on Wednesday, Aug. 15 that it was being acquired by U.S. LUMBER.
As a private company, U.S. LUMBER and Alexandria Moulding will not disclose how much Alexandria Moulding was being acquired for.
Donna Gerrits Vice President of Sales and Marketing for Alexandria Moulding said that she did not expect there to be any job cuts as a result of the acquisition.
"Absolutely not, there will be no job losses," she said. "In fact, there may be growth at Alexandria Moulding."
“We are very excited to be partnering with U.S. LUMBER as the next stage of Alexandria Moulding’s growth," said Alexandria Moulding President Andre Cholette. "U.S. LUMBER has earned a great reputation in the marketplace and its commitment to values like honesty and integrity is a perfect match for Alexandria Moulding’s strong culture. Becoming a part of U.S. LUMBER will allow us to enhance our product and service offerings as we continue to provide growth opportunities for our customers, suppliers and employees.”
In a joint press release, Alexandria Moulding and U.S. LUMBER state that Alexandria Moulding will continue to be lead by it's current management team.
The deal is expected to be completed by October 2018.
There are approximately 400 employees at Alexandria Moulding in Alexandria.