Detectives looking to arrest roofing supplier
A Texas roofing supplier that allegedly stiffed ABC Supply for $64,534 — resulting in liens being filed on 17 homeowners — is facing 17 felony theft charges, according to an article in the Tribune-Review.
Steven Kyle Hunt of Waxahachie, Texas, listed as the owner of Prime Roofing Systems, received $64,534.62 in payments for shingles and other roofing materials from 17 property owners in Southwestern Pennsylvania but failed to pay ABC Supply for the materials delivered to each residence, according to court documents.
Wisconsin-based ABC Supply eventually filed liens against the property owners for the unpaid bills, which range from $2,184.71 to $10,974.65. Westmoreland County detectives began investigating Hunt, who also goes by the name Kyle Hunt, after being contacted by some of the homeowners.
Police in Texas were provided the arrest warrant for Hunt, and detectives are waiting for a response, according to the report. Hunt will be extradited to Westmoreland County once he is in custody.
Prime Roofing was one of many contractors who arrived in Westmoreland County in March 2011 following a tornado and hailstorm that caused damage throughout the area, according to the newspaper.
The incident has sparked legislation in the Pennsylvania State Capitol, where a bill was recently introduced into the House of Representatives that would protect homeowners from mechanics’ liens filed by subcontractors if the homeowners paid the contractor in full.
Under the bill, a property owner would file a notice when work starts, which would require all subcontractors and suppliers to provide owners with notice of the work they are performing or the materials they are providing. These notices might be filed through a website. Ohio has a similar law.
The Pennsylvania House is scheduled to vote on the bill in the next month and then move it on for consideration in the Senate.
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ProBuild opens new location
ProBuild Holdings will hold a grand opening on March 14 for its newest location, a ground-up facility in Morgantown, W.Va. The 35,000-sq.-ft. lumberyard will offer lumber, building materials, windows, exterior doors, siding and trim, and a variety of hardware items to builders, contractors and do-it-yourself enthusiasts.
Customers of the new location will have access to materials from nearby ProBuild facilities, including Winchester, Va., which specializes in components and Frederick, Md., which specializes in millwork.
“We’re proud to bring our local market expertise and ProBuild’s national reach to Morgantown and our neighboring states,” said Brian Massie, general manager of the ProBuild Morgantown location. The Denver-based company will employ approximately a dozen people at the new facility.
ProBuild is the nation’s largest network of lumberyards and component plants, ranking No. 1 on the HCN Pro Dealer Scoreboard. It operates more than 430 LBM outlets that serve 45 U.S. states.
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HD Supply to sell industrial business unit
HD Supply has entered into an agreement to sell its industrial pipes, valves and fittings (PVF) business to Shale-Inland Holdings, an affiliate of investment firms TowerBrook Capital Partners and The Stephens Group. The purchase is expected to close in March 2012. The purchase price was not disclosed.
“After careful evaluation, we determined that divesting our Industrial PVF business is in the best interests of our company as we seek to continue strengthening our industry-leading businesses,” said Joe DeAngelo, CEO of HD Supply. “The Industrial PVF team, with the expertise of its many seasoned industry veterans, has done a tremendous job, and they can be proud that this new chapter is the result of the momentum they have built and the success of their initiatives.”
Once the sale is complete, the proceeds from the transaction will provide HD Supply with additional financial and strategic flexibility to further strengthen its portfolio, according to the announcement. As of Jan. 9, 2012, the Atlanta-based distributor had approximately $1.2 billion in available funds. This liquidity “provides ample capital to fund growth and meet its financial obligations,” the company said.
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