“We will be exiting three markets, consolidating our operations in three markets and eliminating lines of business in three markets,” said president and CEO Fred Marino in a memo sent to ProBuild employees last month.
All told, the company’s latest round of closings amounts to 12 shuttered locations across the country.
“We will continue to serve our customers in the majority of markets with a more efficient footprint and/or a rationalized service offering suited to each market.”
Most of the closures are expected to take place by Nov. 15, 2011. The company will make market exits in Yorkville and Westmont, Ill.; Columbia, S.C.; and South Fork, Colo. It plans market consolidations in Granite Falls, Sedro-Woolley, Coupeville, Bonney Lake and Moses Lake, Wash.; and Cherry Hill, N.J.
ProBuild also plans service reductions in Greensboro, N.C., and Fredericksburg, Va. For these locations, only ProBuild’s gypsum operations will remain in the market. The gypsum operation in Lynchburg, Va., will be discontinued, although that location will remain open and continue its lumber operations.
“It is difficult to make the decision to close operations because we recognize the impact it will have on our employees and the communities we serve,” Marino said in the memo. “But this step is made to improve overall profitability of the company, and to retain jobs and more effectively serve our customers across the country.
“ProBuild is facing tough decisions like this all around the country as we continue to deal with a struggling economy. But we are confident that by making these difficult decisions now, ProBuild will ultimately be better positioned to weather the downturn and eventually thrive when market conditions become more favorable.”