Alta Forest Products has been sold to the Itochu Corporation of Japan in a move that was finalized on Jan. 12. President and CEO Mike Pederson plans to stay on in both capacities and has insisted that little will change in daily operations.
“It’s a great fit. It’s great for the employees and great for the shareholders,” Pederson told The East County Journal. “I wouldn’t have done this if I didn’t think it would be great for Alta.”
Itochu Corp. owns numerous companies, including Master Halco, a leading fence manufacturer and one of Alta Forest Products primary customers. That integrated model of operation is expected to boost the reach of Itochu and solidify the market for Alta.