ProBuild Holdings announced today it has opened a new ProBuild component facility in the Nashville, Tenn., area and is doubling the size of its facility in the Nashville suburb of Smyrna.
The new component facility in Franklin, Tenn., will manufacture truss and wall panels for both residential and commercial customers, ProBuild said. It will create 20 jobs.
The expanded Smyrna facility will host a full-line lumberyard, millwork manufacturing plant and gypsum distribution operation, said ProBuild, the No. 1 company on the ProSales 100.
"We are encouraged by our progress in the greater Nashville market and by the efforts of our people to meet the multiple and evolving needs of our customers," ProBuild CEO Paul Hylbert said in a statement. "These newest facility expansions are consistent with our recent decisions to enter the Kalispell, Mont., market, expand our presence in Chicago, and launch our two Specialty Building Products locations in Modesto and San Jose, Calif. We are confident in the long term future of residential and commercial construction in the U.S. market and will continue to position ProBuild to serve our customers better as these markets recover."
Today's announcement comes a few weeks after a ProBuild spokesperson confirmed a Reuters report that said ProBuild's parent company has spent $345 million over the past six months to cover losses at the dealer and might have to pay another $105 million through January. Reuters also quoted an analysis by bond rating agency Standard & Poor's that said ProBuild lost money in both 2007 and 2008 and is unlikely to be profitable this year.
Hylbert has said ProBuild expects to generate about $3 billion in sales this year, down about one-third from the $4.4 billion it collected in 2008. However, ProBuild also has continued to take the initiative when opportunities present themselves, such as hiring more than 200 sales reps this year from dealers that have faltered or closed.