SOREDI is pleased to congratulate Laminate Technologies (Lam Tech), Inc. headquartered in Tiffin, OH for their acquisition of the business assets of White City manufacturer, Lamination Technology Industries (LTI), with an additional manufacturing facility in Spokane, WA.
LTI is a leader in manufacturing laminated panels, fabricated components, hardwood veneer panels and specialty products. Lam Tech has four manufacturing facilities in Ohio, Tennessee, Virginia and Texas. It is a major supplier of laminated panel products, fabricated components and globally sources panel products and components for kitchen cabinets, residential and office furniture and displays.
Acquiring LTI will allow Lam Tech to have a strong West Coast presence, strengthening their geographic position in the United States, increasing their capabilities and product offering. This strategic West Coast location aids in effective delivery of laminated products and components as they continue to bring solutions and value to their customers.
SOREDI initially contacted Lam Tech in November of 2015, almost precisely two years ago. Since that time, communication has been ongoing as Lam Tech considered this expansion of their operation to Southern Oregon. SOREDI Executive Director, Colleen Padilla visited their corporate headquarters in Tiffin, OH early in 2016. Later, in the fall of 2016, representatives from Lam Tech participated in one of SOREDI’s Annual Familiarization Tours of the region. As part of the tour, they were able to visit with local business leaders and meet with area decision-makers, while also enjoying some recreation, to get a feel for Southern Oregon.
After considering other locations in Oregon, Lam Tech found the right fit in White City, and decided to purchase LTI, including approximately 50 local employees. Lam Tech President and CEO, Fred Zoeller expressed sincere appreciation to SOREDI for assistance in the negotiation and purchase process, saying, “Your help with employment statistics and with various potential state and local incentives were a key factor in our decision to move forward. It is our desire to retain the current employees and to add jobs in the next 12 – 18 months.”
Colleen Padilla, SOREDI’s Executive Director says, “We are very pleased to see such a successful alignment come from an inquiry that came to us two years ago. We are very proud to have had such a quality organization, such as LTI, thriving in our region, giving Lam Tech the opportunity to acquire it, and continue its operation. It’s exciting to see a national company like Lam Tech come into our region with the intention of providing additional high quality employment opportunities.” Padilla continues, “These are the occasions that demonstrate what we do at SOREDI. Thanks to the generosity and participation of our members, we are able to provide these informative services to companies at no charge to anyone. There aren’t many organizations who are able to persist with such long-term projects, but, here at SOREDI, we do that.”
About SOREDI: SOREDI is a private, membership-based, non-profit organization, governed by a board of directors. Its seven-person staff is charged with local business expansion and new business recruitment efforts, financial assistance to start-up companies through its business loan fund, and management of Enterprise Zones in Jackson and Josephine Counties. The agency was formed as a regional economic development agency in 1987. Learn more at https://www.soredi.org.Click Here to Download the PDF