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Coe Manufacturing Company Announces Acquisition of the Assets of Coastal Machinery CompanyPainesville, Ohio - Coe Manufacturing Company announced today it was acquiring the assets of Coastal Machinery Company of Portland, Oregon. Coastal Machinery Company, established as a machine shop in 1932, has become an internationally respected manufacturer of high-speed planer systems. Advanced technology and electronic control systems has allowed Coastal to provide planer systems today capable of processing lumber at speeds of 2700 feet per minute. Coastal planers are operating at every major forest products company throughout the lumber producing regions of the United States, Canada, Sweden, Brazil, Australia and New Zealand. According to Darryl Dillenback, Coe's president and CEO, "By adding Coastal Planers to Coe's current machinery brands of D*Tec Optimizers, Moore Kilns, WIW and Pathex Presses, Coe Lathes and Dryers and Mann-Russell Gluing Systems, Coe is building upon it's proven ability to provide superior products and services to the forest products industry throughout the world". The Coastal transaction is expected to close within 30 days, and the Coastal brands will be manufactured at Coe's Tigard, Oregon facility under the management of Alan Knokey, it's Vice President and General Manager. Coe Manufacturing Company of Painesville, Ohio, dates back to 1852 as a Sawmill Machinery manufacturer. Today, Coe is an independently owned, major international machinery provider to the veneer, plywood, lumber, composition board, gypsum wallboard, fiberboard, rubber, plastics and laminates industries. They operate four manufacturing facilities in the United States and Canada with 600 employees. Questions concerning this press release should be directed to: Coe Manufacturing Company Coe Manufacturing Company |
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