Armstrong names new EVP building products
Lancaster, Pa.-based Armstrong World Industries has named Victor "Vic" Grizzle EVP, Armstrong Building Products, starting Jan. 17, 2011.
Grizzle, 49, has 23 years of experience in process improvement, sales, marketing and global business leadership. He comes to Armstrong from Valmont Industries, a $2 billion global leader of infrastructure support structures for utility, telecom and lighting markets, and manufacturer of mechanized irrigation equipment for large scale farming, where he was group president, Global Structures, Coatings and Tubing since 2005.
Prior to Valmont, Grizzle was president of the commercial power division of EaglePicher Corp., a $700 million diversified manufacturer and marketer of advanced technology and industrial products for space, defense, automotive, filtration, pharmaceutical, environmental and commercial applications. Before that, he spent 16 years at General Electric, progressing through a number of sales, marketing and technical leadership roles to general manager of Greater China Operations, GE Plastics, in 2001, and then to Americas Business Leader, Core Products GE Silicones, from 2003 to 2004.
"Vic has been consistently successful at driving growth, enhancing margins and controlling cost, a professional performance that gives me enormous confidence in his ability to take our Building Products business to the next level. His understanding of a diverse customer base, coupled with his global mind-set and strong leadership presence will help get us where we need to be internally and in the marketplace. I am very pleased he is joining the company during this challenging but exciting time," said Matthew Espe, Armstrong’s CEO.
84 Lumber sells property to REITs, keeps stores open
An article in the Buffalo News reported that 84 Lumber has sold several properties in New York State in lease-back arrangements that will allow the pro dealer to raise cash and continue to operate its existing lumberyards.
Hardy Management Co. has recently sold a location in Wheatfield, N.Y., to Spirit SPE Portfolio 2007-2 LLC, an entity owned by Spirit Finance Corp. of Scottsdale, Ariz., for $560,000, the newspaper reported. Spirit also paid $640,000 for a property in the town of Tonawanda on Military Road, and $900,000 for the Taylor Road store in Orchard Park.
In late April 2007, Spirit, an REIT that says it focuses on "single-tenant, operationally essential real estate," conducted a lease-back deal with 84 Lumber that involved 53 stores and one truss plant. Spirit purchased the property for $200 million, and a subsidiary of 84 Lumber signed an initial 20-year lease for the properties.
GAF upgrades warranty on all laminated shingles
Wayne, N.J.-based GAF Materials Corp, the roofing and ventilation giant, is announcing improvements to its laminated shingle warranties.
Effective January 1, 2011, every GAF laminated shingle, including all Timberline shingles will be covered by a lifetime limited warranty when installed on single family residences. GAF will no longer offer any laminated shingles with just a 30-year or 40-year warranty, a first for any roofing manufacturer.
GAF pointed to its Advanced Protection technology as the basis for its lifetime warranties.
“As a company, we are committed to advanced quality, industry-leading expertise, and solutions that make our customers’ lives simple — which is what this warranty upgrade is all about,” stated Bob Tafaro, President and CEO of GAF. “Contractors will benefit from knowing that they can stand with confidence behind every installation of GAF laminated shingles. Homeowners will benefit from knowing that their installed shingles are warranted for a lifetime, adding significant value to their home."
GAF has also upgraded the coverage of its Golden Pledge and System Plus limited warranties, which are offered exclusively by its GAF-certified contractors.
GAF is celebrating its 125th anniversary as a company in 2011.
Complete details about these changes, including certificates confirming coverage and explaining the new terms which contractors can use with homeowners, can be found on its corporate web site.