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BlueLinx shakes up executive leadership

BY HBSDEALER Staff

BlueLinx Holdings has announced that George R. Judd will no longer serve as president and chief executive, effective May 14, 2013. Judd will also resign as a director of BlueLinx following the 2013 Annual Meeting of Stockholders on May 16.

The board has appointed Howard S. Cohen to serve as executive chairman, while the board conducts a search for a successor to Judd. Cohen has been a director of the company since 2007 and has served as chairman of the board since 2008.

Cohen previously served as interim CEO from March 2008 through October 2008 and as executive chairman from March 2008 through March 2009.

"The board would like to thank George for his years of service to the company," said Cohen. "George was instrumental in leading the company through one of the worst economic downturns in recent history and has helped position BlueLinx to capitalize on the recovery in the U.S. housing market. We wish him well in his future endeavors."

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Housing starts plummet in April

BY Ken Clark

Housing starts fell back below a million. In fact, they’re well below a million.

Data released Thursday morning by the Commerce Department shows total housing starts for April at a seasonally adjusted annual rate of 853,000, down 16.5% from the March figure.

Analysts expected a decline — but not that much. Expectations were for an SAAR of about 970,000.

Things weren’t that much better in the single-family metric, which showed April starts at a rate of 610,000, down 2.1% from the March rate.

Compared to a year ago, total housing starts were up 13.1%.

Building permits showed improvement — up 14.3% to a rate of 1.02 million.

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Alliance Lumber acquires truss company

BY HBSDealer Staff

Phoenix-based Alliance Lumber of Arizona completed the acquisition of Central Arizona Truss (CAT). CAT, also based in Phoenix, designs and manufactures trusses for custom homes, remodels and additions in the Arizona and Southern California areas.

“The transaction was appealing to us because of the longstanding relationships we have with the Alliance team,” said Jeff Popour, former co-owner of CAT. “I know them and I trust them.  I have maintained a relationship with several members of the management team for over 20 years.  I have tremendous respect for what they have done in the market and the industry.”

Popour and his partners, Thomas Irvin and Richard Flores, bought CAT from Popour’s father and uncle in 2003, and the three of them operated the business until the recent transaction.  CAT and Alliance Truss will now both market under Alliance Central Arizona Truss with Popour serving as President and Flores overseeing operations.    

Terms of the deal were not released.

“Momentum is critical in this business and CAT positions us well to support the component growth coming.  Jeff and his team have a great reputation in the market and have performed throughout the downturn.  Ultimately we both felt we would be most successful playing for the same team.” said True Carr, Managing Partner of Alliance. “This strategic investment provides great opportunity for us and has further affirmed that CORNERSTONE Building Alliance was an ideal partner for us.”

In September, 2012 Cornerstone Building Alliance, based in Raleigh, N.C., acquired a majority interest in Alliance.  Cornerstone CEO Steve Short added, “As a leading distributor in one of the top housing markets in the nation, Alliance is an excellent platform company for us in Arizona.  Central Arizona Truss is a business that nicely complements Alliance and further enhances our component capabilities.”

 

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