YAKIMA, Wa - Longview Fibre announced that a Canadian based company is buying it out. Brookfield Asset Management has entered what they're calling a "definitive agreement" to buy Longview Fibre for a little more than two billion dollars.
Longview Fibre is based in Longview, WA, but the company employs 155 people at its plant in Yakima.
A spokesperson from the company's headquarters doesn't expect the sale to affect operations at the Yakima plant.
"The plant is considered one of the largest in the united states for corrugated container manufacturing, "says Curt Copenhagen, Director of Public Affair for Longview Fibre, "And so it's got state of the art equipment, so we anticipate little change with transaction."
Longview Fibre says the sale is still pending approval from shareholders.