Silvercrest Subsidiary to Buy Division's Assets

Silvercrest Corp., a Santa Ana-based mobile home manufacturer, said that its Coastland Forest Products Inc. subsidiary has agreed to buy the assets of Canfor U.S.A. Corp.'s Northern California division for about $1 million in cash and notes.

Coastland Forest Products is a wholesale lumber and roofing truss manufacturer with sales mostly in the mobile home and recreation vehicle industries. Canfor U.S.A. is a national supplier of building materials and a manufacturer of roofing trusses for the mobile home industry.

Silvercrest Corp. President Richard Simonian said the acquisition will "approximately double" Coastland's annual revenues to $20 million by June, the end of Silvercrest's fiscal year.

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