Boise Cascade Acquires Norman Distribution

by | May 10, 2018 | News

Boise Cascade Co., Boise, Id., has agreed to purchase Norman Distribution, Inc., a distributor of engineered wood, commodity lumber, and specialty building materials based in Medford, Ore.

“Norman Distribution has built an excellent reputation as a strong industry partner throughout its four decades in this business,” said Nick Stokes, executive VP of building materials distribution. “The positive relationships they have built with their customers and suppliers have been a key to their success. We are very pleased to welcome their team to Boise Cascade and strengthen our presence in the Oregon, Northern California, and Nevada markets.”

The entire staff is expected to remain, under the banner Boise Cascade Building Materials Distribution Medford Branch.

“Norman Distribution is excited and proud to join Boise Cascade,” said owner Jeff Norman. “We were one of the first customers of their EWP mill in White City, Ore., which began operating in 1991. This is a great strategic and cultural fit, which will allow us to grow our product line and better serve our customers.”

The acquisition is expected to be complete in the coming weeks.

From Building Products Digest: https://www.building-products.com/article/boise-cascade-buys-norman/

Boise Cascade Acquires Tennessee Distributor

by | Mar 14, 2018 | News

Boise Cascade Acquires Tennessee Distributor

 

Boise Cascade Company is acquiring Lumberman`s Wholesale Distributors, a Nashville, Tenn.-based distributor of engineered wood products, commodity lumber items, and specialty building materials. The acquisition is expected to be complete in the coming weeks. Terms of the deal were not disclosed.

“We are very pleased to welcome the Lumberman`s associates to Boise Cascade. They have been an excellent distributor for nearly 50 years,” said Nick Stokes, executive VP of Boise Cascade Building Materials Division. “This location will allow us to strengthen our nationwide presence and satisfy a growing demand for our products and services in the Tennessee Valley and Central Kentucky markets.”

Founded in 1969, Lumberman’s supplies pro dealers, millwork houses, and manufacturers. “We are excited to join Boise Cascade,” said Garey Keltner, president, Lumberman`s Wholesale. “We believe there is a strong cultural and strategic fit that will allow us to grow and continue to serve our customers.”

Last month Boise Cascade reported fourth quarter 2017 net sales of just over $1 billion, up 19% from fourth quarter 2016 net sales of $919 million. For the full year, the engineered wood products and building products supplier reported sales of $4.43 billion, a 13% increase from sales of $3.91 billion in 2016.

The Boise, Idaho-based company also recently reported a fourth quarter net income of $19.1 million, soaring well above a fourth quarter 2016 net income of $4 million. For the full year Boise Cascade reported a net income of $83 million, increasing 117% from a net income of $38.3 million in 2016.

From HBS Dealer: hbsdealer.com

 

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More Record-Level Lumber Prices Expected In 2018 From U.S. Import Duties

by | Dec 18, 2017 | News

In WOOD MARKETS’ new five-year softwood lumber forecast, the continuation of U.S. duties on Canadian lumber exports to the U.S. are expected to cause more short-term market and price volatility. The preliminary duties launched earlier in 2017 rocked the U.S. market and more of the same is expected in 2018. As we predicted one year ago, the headline for last year’s WOOD MARKETS 2017 news release was bang on: “U.S. Import Duties on Canadian Lumber to Cause Market Chaos and Soaring Prices.” Indeed, they did. The WOOD MARKETS 2018 Outlook Report predicts more chaos and the chance of further record-breaking prices.

These details and further analysis of commodity lumber and structural panels was released earlier this week in the report, WOOD MARKETS 2018 – The Solid Wood Products Outlook: 2018 to 2022 by WOOD MARKETS/FEA Canada, Vancouver BC.

The recent announcement of final countervailing (CVD) and anti-dumping (ADD) duties on Canadian lumber exports to the U.S. will cause lumber prices to remain near record levels in 2018 and even higher at various points over the next five years. This is because Canadian exports to the U.S. are forecast to ease in 2018.

“Simply put,” indicated Russ Taylor, Managing Director, WOOD MARKETS/FEA Canada, “by restricting incremental Canadian lumber exports via import duties, there may not appear to be enough lumber supplies to adequately balance with projected U.S. demand. There will need to major increases in U.S. lumber capacity (which is starting to build), more offshore imports, and/or record-level prices to stimulate more supply. The question that we have seen coming for a number of years is: Where will the U.S. get all of the lumber it needs, and at what price?”

The impact of U.S. import duties on Canadian lumber production and exports has been developed from building a cost curve of Canadian producing regions from WOOD MARKETS’ Global Timber/Sawmill/Lumber Cost Benchmarking Report. From this, WOOD MARKETS has overlaid a cross-Canada timber supply availability map with delivered log and sawmill costs to determine which producing regions (and mills) are most impacted by 20.23% (“all-others”) import duties.

Read more on this from International Wood Markets at https://www.woodmarkets.com/news-release-record-level-lumber-prices-expected-2018-u-s-import-duties/.

Slow Demand, Rising Production Stalls Lumber And Panel Markets

by | Dec 21, 2015 | News

New WOOD MARKETS five-year forecast calls for continued volatility as North American and global lumber markets continue to recover and grow.

In WOOD MARKETS’ new five-year forecast, the short-term outlook is that North American and global economies, as well as softwood lumber and panel markets, are all forecast to improve, but at a much slower pace than has been expected. What has also short-circuited the prospects of stronger demand is a slowdown in China and Japan, impacting export markets. And the new wildcard that caused U.S. dollar prices to plunge in 2015, especially in softwood lumber, was the rapid currency devaluations of almost all major lumber producers as compared to the U.S. dollar. All of these factors have changed the WOOD MARKETS outlook to one that expects more lacklustre demand and corresponding price growth through 2018. After that, it starts to look very good.

These details and further analysis of commodity lumber and panels was released last week in the report, WOOD MARKETS 2016 – The Solid Wood Products Outlook: 2016 to 2020 by International WOOD MARKETS Group, Vancouver BC.

The supply-side dynamics feature eroding sustainable timber harvests in key provinces in Canada, resulting in dramatically lower lumber production than in the previous decade. Canada’s total lumber output will start to flatten out by 2018 with no further increases expected – just as U.S. and global demand are expected to gain momentum.

On the U.S. side, the U.S. West Coast region continues to watch log export prices in China and Japan, as many domestic log prices are correlated with export prices – this can quickly tighten the wood supply for sawmills and plywood mills as export prices rise. The U.S. South is forecast to be the only region where any significant lumber and panel production will occur, mainly due its ample, under-utilized timberland base of southern yellow pine. As lumber and panel demand increases, it is forecast that the current depressed log prices will start to move higher to feed incremental wood consumption of the expected additional panel and sawmill production.

From Wood Markets: https://www.woodmarkets.com/global-malaise-in-demand-coupled-with-rising-production-stalls-price-movement-in-north-america/