PORT ANGELES — The Port Angeles Hardwood mill will soon go from two owners to one.
Mill President Lindsay Crawford said David Syree, owner of Cascade Hardwood, has agreed to buy out his partner, Dick Tinney, owner of Washington Alder.
Cascade Hardwood and Washington Alder opened the Port Angeles mill under a partnership in 2006.
The sale should be finalized by February, said Crawford, who declined to provide the purchase price.
“We have roughly 60 days to close the deal,” he said.
The partners began to move toward a breakup in May 2009, Crawford said.
The mill was put up for sale in early November to see if there would be any other prospective buyers.
Crawford said he couldn’t say if there were any other offers.
The mill at 333 Eclipse Industrial Parkway employs about 90 people and makes furniture-grade lumber.
Crawford said he doesn’t know how the buyout will affect personnel.
“At this point, there’s no change,” he said.
The mill cost $30 million to build, Crawford said in November.
It was considered one of the most efficient in the state four years ago and opened with state Sen. Maria Cantwell, D-Mountlake Terrace, making an appearance.
The mill runs two shifts three days a week, Crawford said.
Syree couldn’t be immediately reached for comment.
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Reporter Tom Callis can be reached at 360-417-3532 or at tom.callis@peninsuladailynews.com.