Dallas, Texas – July 2, 2024 – DAIKEN Corporation and ITOCHU Building Products Holdings, Inc., the leading North American manufacturer, and distributor of fencing products, are excited to announce the joint acquisition of Panolam Industries’ Huntsville, Ontario facility. This acquisition marks a significant milestone in both companies’ strategic investment in TFL and the creation of new products to provide comprehensive solutions to the building materials market.

About the Acquisition
With this acquisition, DAIKEN Corporation and ITOCHU Building Products Holdings, Inc will strengthen the existing TFL product line that Panolam has been providing its customers for years. Additionally, the newly formed company will explore the creation of new products to enhance the value brought to customers in the building materials industry.

Enhanced Product Range and Services
The joint acquisition of Panolam Industries Ltd. will enable both companies to offer an even broader range of products and services, meeting the diverse needs of our customers. The combined expertise of both companies will deliver superior building material solutions across North America.

Commitment to Excellence
Both DAIKEN Corporation and ITOCHU Building Products Holdings, Inc. are committed to excellence and dedicated to providing the highest quality products and services. This acquisition is a testament to our joint efforts to enhance our offerings and deliver value to our customers, employees, and stakeholders.

About DAIKEN Corporation

DAIKEN Corporation, headquartered in Osaka, Japan, has been serving the building materials industry since 1945. With twelve facilities worldwide, with four plants in Japan, eight subsidiaries in Japan, and seven subsidiaries overseas. DAIKEN offers housing construction materials, from Medium Density Fiberboard (MDF), floor, wall, and ceiling materials to interior doors, stairs, and storage.

About ITOCHU Building Products Holdings, Inc.

ITOCHU Building Products Holdings Inc. (IBP) is a holding company formed in April 2022 and headquartered in Dallas, TX. IBP is responsible for overseeing subsidiaries related to North American building products such as Master-Halco, ALTA Forest Products, and US Premier Tube Mills.
IBP offers a wide range of administrative services such as Accounting & Finance, Internal Audit, Risk & Safety, Human Resources, Information Technology, Business Development and M&A to the underlying operational companies. IBP is also a business platform to develop and lead the growth strategy of ITOCHU’s North American building products business.