GLENWOOD, Ark. (News release) – Caddo River Forest Products (CRFP) held a ceremony today marking the reopening of the Glenwood sawmill. Formerly the site of Bean Lumber Company, CRFP has operations dating back to the 1970s when Georgia Pacific originally designed and built the facility.
CRFP is a joint venture between Castle Hill Partners, a private investor in commercial properties; McCaslin Barrow Henderson, a timberland investment management organization; and Suwannee Lumber Company, through their private equity sponsor Blue Wolf Capital Partners. The project was also made possible with the help of the leadership of Pike County and Glenwood, as well as, with incentives from the Arkansas Economic Development Commission.
“If the timber industry is not strong and vibrant than the economy of this state is not complete,” said Arkansas Governor Asa Hutchinson. Discussing the investment into the sawmill, Governor Hutchinson stated that “when we put money in the workers’ pockets they are going to spend that money in downtown merchants.”
“I am so glad that we are here today to see this mill start back up, instead of seeing mills close, we are beginning to see mills open,” said 4th District Congressman Bruce Westerman.
“The community around Glenwood is resilient,” said Charlie Miller, partner of the Blue Wolf Capital Fund. “We are confident that our continued investment in the Glenwood sawmill will provide high-quality employment that can compete in any economic condition. We are thankful for the support from the surrounding community and of the state of Arkansas.”
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