Cedar Creek expands in Birmingham
Oklahoma City-based Cedar Creek plans to open a new location in Birmingham, Ala. The company said the site is ready, and employees are being hired in anticipation of a Feb. 1 opening.
“We are pleased to further expand our presence in Alabama and the Southeast, in general, as we believe these areas will be on the leading edge of the residential building recovery," said Bill Adams, CEO of Cedar Creek.
Cedar Creek is a leading wholesale building material distribution company with 12 locations covering 19 states in the Mid-South, Midwest and Southeast. In May 2010, Cedar Creek was recapitalized by Boston-based Charlesbank Capital Partners, with the goal of providing flexible capital for the company to grow beyond its current trade areas.
“This is a key location for Cedar Creek as it helps link our other southeastern locations in Tennessee and North Carolina," said D. Wayne Trousdale, Cedar Creek’s VP operations.
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Columbia Forest Products acquires cabinet company
CFP Components, a division of Columbia Forest Products, has acquired Cabinotch, a maker of ready-to-assemble face-framed cabinet boxes that feature Columbia’s formaldehyde-free PureBond hardwood plywood.
The Cabinotch system, which involves a patent-pending interlocking side panel-to-face frame joint, has been shown to help cabinet shops reduce costs and improve productivity, according to the company.
According to Mike Lee, director of CFP Components, Cabinotch is a modern extension of Columbia’s cut-to-size operation. “Ever since we first trimmed down a piece of plywood for somebody, we’ve been asked to provide more and more value-added services to make life in the shop easier for our customers,” Lee said. “Through the years, we have developed pre-finishing, edgebanding, drawer side blanks and paper laminating capabilities in response to market demand.
“Now, through the Cabinotch offering, we can deliver a set of custom-sized American (made) hardwood parts — from the face frame through the sides, backs, bottoms, tops and shelves — that the fabricator can finish and assemble along with their doors and drawers. It supports the market shift toward outsourcing, and delivers production efficiencies that shop owners are quick to appreciate.”
Through a Web portal (cabinotch.com), customers can register, then specify, face frame and interior face species, adjust sizes and order their cabinet box parts, which are then shipped directly to their shop. Videos on the website illustrate how to assemble the box through the notch in the back of the face frames, and the strength and alignment of the box when assembled.
“You can order your box parts from Cabinotch,” Lee said, “and start working on your doors, drawers, range hoods and trim. When the Cabinotch parts arrive, you just finish them and put everything together.”
Columbia intends to expand awareness of the Cabinotch cabinet box system through promotion by its network of independent wholesale distributors. Customers will continue to order their products online and receive them directly from the plant.
According to Lee, “We feel that Columbia distributors can offer a lot in the way of training shops how to maximize the value of the Cabinotch system, and are looking forward to rolling our program out to more cabinet shops in 2012.”
Lennar posts 11% fourth-quarter sales growth
Amid signs of a stabilizing home market, Miami-based home builder Lennar reported fourth-quarter sales of $952.7 million, up 11% from the year-ago quarter. Net earnings for the quarter were down slightly from $32.0 million to $30.3 million.
For the full year, revenues were up 1% to $3.1 billion, as net earnings of $92.2 million slipped from $95.3 million.
"As we come to the end of 2011 and head into 2012, we have seen the market start to stabilize, driven by a combination of low home prices and low interest rates, making the decision to purchase a new home more attractive, compared with the heated rental market. These factors are reflected in our new orders and sales backlog, which increased 20% and 35%, respectively, from the prior-year quarter."
In the fourth quarter, deliveries were 3,375 homes, up 9%. New orders were 3,027 homes, up 20%. However, the cancellation rate was 20%, and the backlog of 2,171 homes was up 35%.
Lennar received 11,412 new orders in fiscal 2011, up 4% from the previous year.
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