Allied enters Connecticut market
Allied Building Products, one of the industry’s largest distributors of exterior building materials, entered the Connecticut market this month with new branches in South Windsor and Bridgeport. Both locations are in buildings formerly leased by C&S Building Materials, which closed all three of its stores, including an outlet in Latham, Conn.
Founded in 1952, C&S Building Materials sold roofing, exterior siding, windows, doors and decking. According to a statement on Allied’s Web site, the East Rutherford, N.J., company did not buy C&S, although former C&S employees have been invited to apply for positions with Allied.
“Allied looks forward to establishing new relationships with the leading siding contractors in this important market,” said Donald Roth, vp-Northeast region for Allied. “We are also excited to announce that Allied will begin supporting residential roofing contractors in the Hartford and Bridgeport markets.”
Ranked No. 6 on the Pro Dealer Top 350 Scoreboard by Home Channel News, Allied Building Products generated $2.0 billion in sales for fiscal 2007.
Do it Best names education services coordinator
Dave Heffley was recently named education services coordinator for Do it Best, the Fort Wayne, Ind.-based co-op announced.
In this position, Heffley will coordinate promotional materials and special events for the co-op’s buying markets and will be responsible for the coordination of educational classes and materials to increase the awareness of and participation in Do it Best retail solutions.
Heffley joined Do it Best in 1994 as an account specialist and installer for the Retail Data Processing support department. Prior to that, he was a sales representative with John Hancock Insurance and with Monroe Systems.
In addition, Heffley has been actively involved with Do it Best’s employee board, organizing special events and activities for corporate office employees.
Ainsworth reports Q3 loss
Vancouver, B.C.-based forest products company Ainsworth Lumber reported a net loss of C$42.7 million (US$34.6 million) for the third quarter ended Sept. 30, compared to a net loss of C$37.2 million (US$30.2 million) for the same period last year.
Sales for the quarter stood at C$115.3 million (US$93.5 million), down 24 percent from C$150.8 million (US$122.2 million) in the year-ago period. According to the company, reduced shipment volumes due to production curtailments led to the decrease in sales.
Year to date, the company reported a net loss of C$165.1 million (US$133.7 million), a C$133.1 million increase in losses from the same period in 2007.
In July, Ainsworth completed a financial recapitalization, resulting in the “realignment of equity and non-equity interests, significant de-leveraging of the balance sheet and a strengthened liquidity position.” Following the recapitalization, the company’s management team moved to lower overhead costs with a decrease in staff, office space and administrative costs.
Third-quarter OSB shipments were 481,354 msf , down 25 percent from the same period last year, due to decreased customer demand and plant closures. The company permanently closed its Grand Rapids, Minn., OSB mill and indefinitely curtailed production at two other northern Minnesota-based OSB mills in Cook and Bemidji.