Banking firm to invest in Consolidated Pine plant
Commissioner Crawford and Rep. McLane key in getting agreement with Rhode Island's Tzar Investment Group
Tzar Investment Group LLC of Rhode Island, an investment banking and turnaround management company, has announced a joint alliance to invest and acquire stake in Consolidated Companies, a third generation, family-owned lumber company headquartered in New Jersey.
The joint company announcement reveals plans to also invest in the Crook County subsidiary, Consolidated Pine Inc. The alliance plans to upgrade the existing facility in Prineville, which in turn is expected to bring additional manufacturing jobs to Crook County.
Consolidated has operated in Crook County since 1946 and has been a part of the community for decades.
The facility is the Oregon-based manufacturer of pine moldings. Crook County has a long tradition of pioneering lumber business, and Tzar Investment Group representatives strongly believe Crook County is the right place to invest. Their innovative approach and available quality workforce in the area would result in increased demand for US-manufactured wood moldings.
The investment group has had conversations with Crook County Commissioner Seth Crawford, Rep. Mike McLane and others, over the last few weeks.
Crawford personally flew to New Jersey earlier this week and met with the representatives of Tzar Investment Group and Consolidated Lumber Group of Companies.
We have detailed our interests and concerns. We are pleased to note that Commissioner Crawford is taking enthusiastic role to welcome our investment plan, a press release states. We certainly appreciate his proactive approach. We also understand that Rep. McLane has also shown keen interest in our capital investment plan and has communicated with relevant state agencies for support.
Consolidated Pine has been in operation in Crook County for last 70 years. In the tradition of Crook Countys pioneering lumber business, Tzar Investment Group representatives say they hope to celebrate another exciting 70 years and more of a continued operation of Consolidated Pine in lumber and wood molding business.JW_DISQUS_ADD_A_COMMENT