BASF executive elected president of trade group
Jim Doyle, district sales manager for the southeastern region of BASF’s Wall Systems business, has been elected as the new president of the Florida Wall & Ceiling Contractors Association (FWCCA).
Doyle has been an active member of FWCCA since its inception in 1982 and has been on the board of directors for the past three years. In 2005, he was recognized with the FWCCA Lifetime Support Award.
Doyle stated he will focus on two key objectives for the association in the upcoming year.
The first will be to advance the educational program for contractors and architects. The mission of the program, he said, will be “to promote the wall and ceiling industry to the contractor and architectural community.” The second key objective is to provide services and undertake activities that enhance the members’ ability to operate a successful business.
FWCCA, an affiliate of the Association of the Wall and Ceilings Industry (AWCI), represents the needs and concerns of Florida contractors in the wall and ceiling industry. It is supported by any company, person or partnership engaged in and/or supplying materials, equipment or ancillary services to the wall and ceiling industry within the state of Florida.
BASF’s Construction Chemicals division is a leading supplier of chemical systems and formulations for the construction industry. Its products include a wide range of items used in sports and industrial flooring, external renders and wall insulation, expansion joints, wood preservatives, as well as specialist repair mortars, tile adhesives and waterproofing membranes.
BlueLinx completes $60 million stock offering
BlueLinx Holdings has raised approximately $58.5 million after investors fully subscribed to a $60 million rights offering that expired on July 22. Following the issuance of the newly subscribed shares, which is expected to occur on or about July 28, 2011, BlueLinx will have approximately 61.8 million total shares outstanding.
Cerberus ABP Investor will remain the majority stockholder, owning approximately 55% of BlueLinx’ common stock.
When BlueLinx first announced the offering in April, the Atlanta distributor said it would use any proceeds to pay down debt and also fund capital improvements.
Commenting on the announcement, BlueLinx president and CEO George Judd stated: "We are pleased with the results of the offering and are grateful to our stockholders for their continued support."
Plum Creek Timber second quarter bolstered by real estate
Plum Creek Timber benefited from good results from its real estate segment to post increases in its second-quarter sales and earnings.
The Seattle-based company reported earnings of $44 million in the second quarter, up from $35 million in the same quarter last year. Sales increased to $284 million, up from $258 million.
"Good results from our real estate segment offset weaker-than-anticipated results from our timber operations," said Rick Holley, Plum Creek’s president and CEO. "Sawlog markets in the West and Northeast remained attractive during the second quarter, however, sawlog markets in the South continued to be challenging due to extremely dry weather and weak domestic demand.
"We manage the company with the goal of maximizing the long-term value of every acre we own," Holley continued. "During the second quarter, we reduced our sawlog harvest about 100,000 tons from planned levels in the South. We will bring this volume to the market, at improved prices, in the future."
The company’s manufacturing segment reported $5 million of operating income for the second quarter, compared with the $10 million operating income reported for the second quarter of 2010.