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Press Release: Sept 1, 2018

Murray Latta Progressive Machine Inc. acquires Kimwood operations.

Cottage Grove, Oregon - Murray Latta Progressive Machine, Inc. of Surrey, BC, Canada, announced today that it has acquired the operations of Kimwood Corporation, a Cottage Grove, Oregon based manufacturer of machinery for the forest products industry; including sanders, planers, re-saws, rotary hogs and cylinders. Murray Latta designs, manufactures and distributes industrial machinery for several industrial sectors including forest products, oil, gas, mining, material handling, construction and is celebrating its 100th anniversary. Mr. Dan Reader, President of Murray Latta stated that: "Murray Latta has been a licensed manufacturer and distributor of Kimwood products in Canada for more than 30 years. Our long working relationship with Kimwood, familiarity with Kimwood's products, reputation and brand, as well as our respect for the employees of Kimwood made this an easy decision. Our goal is to keep operations in Oregon and invest in reinvigorating the Kimwood brand and products. "

Mr. Kris Woodard, President of Kimwood Corporation added; "Kimwood has been in business in Cottage Grove for more than 70 years. As a family owned business in a smaller community it was important that we choose wisely who might acquire the Kimwood operations; a buyer who would respect the community, Kimwood's long history and, foremost, Kimwood employees. The combination of the Kimwood operations with Murray Latta simply gives the operations a broader international reach and opportunities for the Kimwood employees. This transaction ensures the continued presence of Kimwood manufacturing operations in Cottage Grove for many years to come."

The new company will be operating under the name Kimwood Machinery Inc. All Kimwood employees will be retained, including Mr. Woodard, who will continue to manage the new company's operations until March 1, 2019.

Kimwood Machinery Inc.
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