84 Lumber to make further cuts
84 Lumber said it is cutting about 40 positions at its headquarters due to the slumping housing market.
Employees were notified Friday, with some having been offered different positions. The cuts are to employees at the company’s headquarters in Eighty Four, Pa. The company has seen the number of employees at its corporate headquarters fall in the past year to approximately 650 from about 800 employees.
According to 84 Lumber spokesperson Jeff Nobers, the approximately forty positions affect 25 people, some being offered other positions.
Because of a slumping housing market, 84 Lumber laid off further employees this year, including 26 employees at its corporate headquarters in June.
84 Lumber is in the second year of its three-year strategic growth plan, announced in April 2006, geared to making the company a $10 billion sales organization by the end of 2009. However, 2006 sales were flat at $3.92 billion compared to sales in 2005.
Last week, the pro dealer held grand opening celebrations of four new locations across the country, with simultaneous events in Oregon, Louisiana, Florida and Utah.
CPG International reports strong third quarter
CPG International, the parent company of AZEK Building Products, reported earnings of $342,000 in the third quarter, swinging from a loss last year of $756,000.
Sales rose 25 percent to $82.55 million compared with $65.75 million in the same period last year.
“Although the residential housing market further weakened in the third quarter, CPG continued to execute on its business plan achieving impressive growth for the quarter,” said Glenn Fischer, CPG’s interim CEO.
Highlights of the third quarter include expansion of the company’s PVC deck manufacturing capabilities, with CPG adding further manufacturing capacity at plants in Alabama and Pennsylvania. Additionally, the company kicked off a 98-store test program of its AZEK Trim product in Home Depot stores.
CPG International, based in Scranton, Pa., markets products under several brands including AZEK Trim and Mouldings, AZEK Deck and Santana Products.
Building Materials Supply expands Simpson Strong-Tie distribution
Galt, Calif.-based Building Materials Distributors announced it will expand its distribution of Simpson Strong-Tie products into Colorado, Wyoming, eastern Washington, northern Idaho and western Montana.
The new markets join BMD’s core markets in California and Nevada.
BMD became the first Simpson Strong-Tie distributor in 1952.
“BMD has been an integral part of Simpson’s success. Due to BMD’s commitment and dedication, we recently expanded our partnership. We look forward to continued success with BMD,” said Dave Simpkins of Simpson Strong-Tie.
BMD is a wholesale distributor of building materials focusing on the western United States.