Boise Cascade Acquires Tennessee Distributor

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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Brian Luoma Picked To Lead Alabama’s Westervelt Company

Brian Luoma Picked To Lead Alabama’s Westervelt Company

 

The Westervelt Company named Brian Luoma as President and CEO, succeeding Mike Case, who announced his retirement after more than 32 years with the company. Luoma will oversee Westervelt Lumber, Westervelt Renewable Energy, Westervelt Forest Resources, Westervelt Communities, Westervelt Ecological Services and Westervelt New Zealand.

Luoma most recently served as executive vice president and general manager, Siding, with Louisiana-Pacific Corp.

Jon Warner, Chairman of the Board at The Westervelt Co., based in Tuscaloosa, Alabama, comments, “Brian’s proven leadership and vision will be essential in leading our company.”

“I am thrilled to join the Westervelt team,” Luoma says. “The company’s commitment to excellence and focus on sustainability are the driving forces behind 133 years of success.”

Since 1987, Luoma held roles of increasing responsibility with LP. Luoma graduated in Forestry from Humboldt State University in Arcata, California. He worked for LP while attending college, first as an assistant log scaler at the LP stud mill in Fort Bragg, California and then in the woods as a forestry technician. After graduating he worked for Simpson Timber in Korbel for a year before rejoining LP as timberlands manager in northern California. He then became wood procurement manager for LP’s Western Region. He later led LP’s Northern operations OSB group in Hayward, Wisconsin before moving to LP headquarters as head of forestry, wood procurement and logistics.

He advanced to LP’s vice president of Engineered Wood Products before becoming executive vice president and GM over LP Siding, based at headquarters in Nashville, Tennnessee.

Westervelt operates a high production, modernized southern yellow pine sawmill at Moundville, Alabama, a large industrial wood pellet plant in Aliceville, Alabama, and owns/manages 500,000 acres of timberland.

For more information on The Westervelt Company visit westervelt.com.

 

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Louisiana-Pacific Building New Minnesota Plant

The months-long mystery behind which home siding company would be receiving a $66 million subsidy package from the state has finally been made public. Louisiana-Pacific will construct a $440 million plant in Hoyt Lakes. This is the Nashville-based company’s second operation in the state (the other being in Two Harbors).

The Hoyt Lakes site will employ 250 people, amounting to roughly $264,000 in state funding per job created. The Duluth News Tribune notes that many of those employees will be loggers and felled tree transporters, a group of workers that has struggled to find employment following years of board plant closures and layoffs at paper mills in the area.

The new plant will also source its wood products from Minnesota. LP is currently estimating its take to be 800,000 cords per year (one cord equals 128 cubic feet of wood) or about 200 logging trucks each day.

Minnesota lawmakers began developing the public financing package for LP earlier in the year. Senator David Tomassoni, DFL-Chisholm, previously said at least Michigan and Canada were vying for the LP plant as well.

Funding for the project comes from a number of sources. The Minnesota Department of Employment and Economic Development will be kicking in $20 million from its 21st Century Minerals fund, while the Iron Range Resources and Rehabilitation Board will be contributing $16 million from its economic development trust fund. The final $30 million will come from state taxpayers in a 10-part, $3 million per year deal.

From Twin Cities Business: https://tcbmag.com/News/Recent-News/2016/June/Louisiana-Pacific-Is-Mystery-Company-Receiving-$66