Toyota Buys Oregon-Based Cascade Corp.

, Posted: Tue, October 23 2012 at 8:23 AM, Updated: Tue, October 23 2012 at 9:48 AM

Cascade Corporation, a major Oregon-based manufacturing plant has been purchased by Toyota.

The company sold for $759 million.

Officials with Cascade Corp. say the Fairview plant will "remain Cascade Corp... with our current products, policies and customers."

The company employs nearly 2,000 worker world-wide. Since the announcement, Cascade shares jumped 18 percent on the New York Stock Exchange. Officials with both companies hope to close the deal by the end of the year.

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