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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Raute Receives LVL Line Order From Roseburg Forest Products

by | Aug 2, 2017 | News

Raute Corporation has received an order worth over EUR 11 million for an LVL layup line for Roseburg Forest Products, Inc. (RFP) of Roseburg, Oregon, USA.

The present order received by Raute consists of a very high capacity LVL layup line. The line will be delivered to RFP’s new LVL mill in Chester, South Carolina, USA late 2018. The capacity of RFP’s new LVL mill will be 285,000 m3 per year and will be one of the largest capacity single LVL lines in the world. The equipment will be engineered and produced in Raute’s North American unit in Delta, Vancouver area, Canada.

The cooperation between RFP and Raute has continued for many years. Raute has delivered projects of various sizes to RFP’s plywood and LVL mills. The largest project was RFP’s first LVL line in Roseburg, Oregon, USA delivered in the year 2000.

The demand for LVL in the USA has been growing steadily in recent years. By building this new LVL mill Roseburg will be responding to that demand and intends to maintain their strong market position. Raute was selected as the supplier for the LVL layup line because of its extensive experience from earlier deliveries as well as Raute’s leading LVL process technology.

The present new order has no impact on Raute’s outlook for 2017, but it will strengthen the order book for 2018. Raute’s net sales will grow clearly and operating profit will improve clearly over the levels of 2016.

From GlobeNewswire: https://globenewswire.com/news-release/2017/07/31/1064708/0/en/Raute-receives-an-order-worth-over-EUR-11-million-to-USA.html

Raute Corporation Acquires Metriguard Inc.

by | Apr 3, 2017 | News

Raute Corporation and the owners of Metriguard, Inc. have agreed on the purchase of the business of Metriguard Inc., Pullman, Washington, USA.

Metriguard, established in 1972, is the world leader in high speed strength grading technology for lumber and veneer. Metriguard sells and provides services for its equipment globally, with installations in North and South America, Europe, Asia, Africa, Australia and New Zealand.

Metriguard’s products and technology are complementary to Raute’s current product offerings. Over the years, Metriguard’s products have been integrated into dozens of Raute’s deliveries. Metriguard’s net sales were USD 4.6 million in 2016, with an EBIT of USD 0.8 million, and it employs 26 people.

Metriguard’s business will continue by a newly established Raute’s subsidiary Metriguard Technologies, Inc. Its financials will be reported as part of Raute’s wood products technology segment. The acquisition is deemed to have a positive effect on Raute’s net sales in 2017 and on its financial results starting from 2018.

The acquisition is made as an asset purchase. Intangible assets, working capital and fixed assets, except real estate, are acquired. Metriguard’s personnel will transfer in along with the acquisition. The purchase price, estimated at USD 4.5 million, is paid in two installments. A base purchase price of USD 3.1 million is paid at closing, additionally there will be an earn-out payment based on net sales for a 12-month period following closing of the transaction.

For more information visit https://www.raute.com/.