Grand Trunk Bank has announced that it is closing the doors of its Montana Timber Company.
The company said that the move is in line with the need to strengthen our capital position and better compete with our competitors.
Grand Trunks management team will retain its leadership roles with the intention of continuing the company’s focus on timber products, which includes Grand Tranches Timber Products.
Timbo said that it will focus on its business of growing timber through the distribution of timber products and timber related services to customers around the world.
Grandtrunk said that Timbo will continue to operate in Montana and the United States.
The announcement follows the announcement of a $5 billion deal with an investor group led by Timber Pharmaceuticals Inc., a leading supplier of pharmaceuticals to the medical industry.
GrandTrunk announced in September that it was planning to close the timber business in 2018.
It also announced that the company would move its headquarters to Mexico.
The closing of the Montana Timber company follows a similar announcement in July of the company announcing plans to close its North American operations in 2018 as well.
Timbo CEO Michael E. Gagnon said, “The decision to close Grand Trinkos timber business is part of our efforts to strengthen and strengthen our brand.
We believe that Grand Trank will be a better, more sustainable competitor to Grand Tranche and other timber companies, and we are pleased to welcome Timbo to our board of directors.”
The company has been headquartered in Northbrook, Iowa, since 1972.
Grandtrees timber products include timber, lumber, and hardwood products, and they have been a mainstay of the industry in Montana for over 100 years.
Grand Tanners is a member of the American Timber Products Association (ATPA).