84 Lumber finalized a $225 million senior secured revolving credit facility which it will use to refinance existing debt and for general corporate purposes. It will also give the Eighty Four, Pa.-based dealer greater financial flexibility and liquidity. Wells Fargo Capital Finance and PNC Bank were the lead arrangers, while GE Capital Finance was also named as a co-collateral agent and documentation agent. "It's gratifying that Wells Fargo and PNC Bank, who've supported us through the depths of the housing crisis, see the progress that we have made and continue to make as the economy and housing markets recover," said Paul Lentz, CFO of 84 Lumber. |
USG Corp. reported that its building products distribution subsidiary, Chicago-based L&W Supply, saw positive numbers in the first quarter of 2012. L&W recorded a net same-store sales increase of 13% for the quarter from the year-ago period as well as a 72% drop in quarterly operating loss to total $6 million for the same period. |
Openings, Closures, and Acquisitions • D. Baker & Sons Lumber, a Grand Haven, Mich.-based dealer, reopened its lumberyard a little over a year after its facility was damaged by a winter storm in January 2011. The company continued to operate in a temporary location after the storm.
• Hartville Hardware, located in Hartville, Ohio, officially opened its new store, which replaced the company's original location, on Apr. 12.
See also ProSales' list of openings and closures since 2008. And tell us if there are any we missed. |
The Occupational Safety and Health Administration (OSHA) announced a new directive to guide in the process of notifying family members following a workplace fatality. OSHA representatives are now required to reach out to the families initially to communicate the investigation process and timeline, and to continue with updates throughout the investigation. Upon the investigation's closure, representatives will explain the findings and address family members' questions. Employers must notify OSHA within eight hours of the workplace fatality. |
U.S. builders started work on fewer homes in March after they sharply cut back on apartment construction, but they also requested the most permits for future projects in 3 1/2 years, suggesting that the housing market could improve over the next year. The Commerce Department said builders broke ground at a seasonally adjusted annual pace of 654,000 homes last month. That's down 5.8% from February. Apartment construction, which can fluctuate sharply from month to month, fell nearly 20%. Single-family homebuilding was mostly unchanged. Building permits, a gauge of future construction, rose 4.5% to a seasonally adjusted annual rate of 747,000 to reach the highest level since September 2008. |
|
Don't let the #'s, @'s, RT's and bit.ly's scare you away from linking up with fellow industry pros on the Web. That's because, as the adage goes, it's not what you know but who you know—err, follow. And Twitter is for more than just promoting products and services. It's an important space for keeping current on trends and best practices. ProSales has compiled a list of go-to sources for real-time industry conversations. Whether you're still weighing the value prop of launching a social platform or are a seasoned Twitter vet, consider adding the handles in this story to your feed. |
|
The relentless decline in home prices is nearing an end and prices should rise for the first time in seven years in 2013, but a possible new wave of foreclosures could threaten the recovery, according a Reuters poll of economists. The median forecast of 24 economists polled by Reuters was for the S&P/Case-Shiller 20-city home price index to end the year unchanged. That was the same finding back in January for this house price gauge, which covers 20 cities. |
LTLWhere we deliver notable items that don't fill up an entire story |
Dealers• Wheeler's, a dealer based in Rome, Ga., is auctioning off its truss manufacturing and warehouse facility at the Riverside Industrial Park in Rome, but will continue to operate at a smaller facility in town, according to an article by the Rome News-Tribune.
• Valley Distributors, a dealer in Turlock, Calif., is changing its business and shifting towards better serving professional customers. The company will continue its retail operations, but will reformat its store and enlarge its showroom, according to an article in the Turlock City News.
• PMC Building Materials, a Marietta, Ga.-based dealer, named Gary Poulus as president.
• Ward Lumber, a dealer in Jay, N.Y., is partnering with Casella Waste Systems as the first business in Essex County (N.Y.) to implement Zero-Sort Recycling, which is designed to recycle used plastic wrap. |
Distributors• Capital Lumber promoted Jeff Logue to division manager at the Healdsburg, Calif., location. Jeff succeeds Jeff Howard, who retired after 19 years with the company.
• Emery-Waterhouse was awarded the Specialties Department 2011 Vendor of the Year Award at ENAP's 45th Annual Meeting and Trade Show in Orlando, Fla., in March. |
Manufacturers• InterWrap's two-ply underlayment system has now been formally approved by Miami-Dade County in Florida to comply with the Florida Building Code including the High Velocity Hurricane Zone of the Florida Building Code.
• Bonsal American, a division of Oldcastle, acquired TXI Package Products, a division of TXI Operations, which will give Bonsal the Sakrete license for the state of Texas, as well as for the Maximizer brand of lightweight concrete mixes and TXI's preblended masonry business.
• Arauco Panels USA's Moncure, N.C., facility has been issued an FSC Chain of Custody Certificate by the Rainforest Alliance, providing independent third-party verification that that the facility is able to track FSC-certified material through its production process.
• Steve Osterman was named as the territory sales manager for the Boral TruExterior trim product line in the Pacific Northwest.
• Simpson Strong-Tie announced it is renewing its partnership with Habitat for Humanity for the sixth straight year, bringing the company's overall donation to $1.5 million. |
Webbthreads• The Vinyl Siding Institute has updated its "Insulated Siding as Home Insulation: Guide for Users and Energy Raters" publication including preliminary results from recent studies, information about the inclusion of insulated siding in the 2012 IECC, and new illustrations that demonstrate techniques for installing insulated siding.
• The Moulding & Millwork Producers Association announced its leadership for 2012-2013. Les Baker of Best Moulding Corp., will serve as president. Vice president will be Al Delbridge of East Coast Moulding Co.; second vice president will be Pete Delaney of Port-O-Lite Corp.; treasurer will be Craig Young of TLC Mouldings. Kellie Schroeder will be CEO and executive vice president and Ted Smith, of Smith Millwork, will be past president.
• The Risk & Insurance Management Society presented the Ron Judd "Heart of RIMS" Award to Cheryl Berman, regional risk manager for ProBuild and member of the Orange County Chapter. |
New Products • Rust-Oleum introduced a new rubberized utility coating that instantly stops and seals leaks called LeakSeal Flexible Rubber Coating spray.
• Jeld-Wen unveiled a vinyl sliding patio door with an integrated pet door for those four-legged family members. The pet door is available in an Energy Star qualified configuration.
• DeWalt launched a new 12 volt Max Lithium Ion imaging thermometer kit. It designed to easily and accurately measure temperatures of various surfaces and areas.
• Versatex unveiled six new profiles for its line of weather-resistant cellular PVC mouldings. The additions include three new window-trim profiles: window sill, 1 1/4-inch by 4 3/4-inch; sill nose, 1 5/16-inch by 1 3/8-inch; and heavy sill nose, 1 3/4-inch by 2 3/8-inch. Also added was a two inch by 3/8-inch garage-door stop, a 1 1/8-inch by 15/32-inch beadboard cap, and a J-channel brickmould that is 1 1/4-inch by three inches.
• Coast revealed a new rapid response knife as well as added features, including Fingertip Speed Focus Control and a Beam Lock System, to its LED flashlights.
• Hyde Tools introduced three new lines of drywall taping knives, called the Pro Stainless, Pro Hardwood, and Pro Project lines, which range in size from eight to 14 inches and newly re-engineered features and tools.
|
|
|
