Mercer announced that it received approval from the applicable Bankruptcy Court of the acquisition by its wholly-owned subsidiary of a state-of-the-art CLT manufacturing facility located at Spokane, Washington for a price of $50 million previously owned by Katerra. The closing of the sale is scheduled to occur shortly. Katerra was founded in 2015 to build low-cost, modular apartment buildings out of prefabricated components. It operated five manufacturing plants — one in Washington state, one in California and three in India — and secured more than 400 construction contracts worldwide, but it never turned ...
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