LUMBERYARDS

Eco Building Products gets a boost of capital

BY HBSDEALER Staff

Eco Building Products, Inc. has secured up to $3.4 million in financing to help it meet existing levels of demand and expand for future growth, a development the company attributes to a mysterious "Major Big Box Customer" (read: Home Depot).

The funds will go toward filling a backlog of pending purchase orders and to increase its production capacity at its manufacturing facilities.

"This funding represents a transformational milestone for the company from a revenue growth and sales trajectory standpoint," said president and CEO Steven Conboy. "We now have the capital needed to meet a recent dramatic increase in demand for Eco Red Shield from our Major Big Box Customer, who is now in a position to begin aggressively marketing our product to its massive customer base as an optimized solution to meet key unmet needs in the $60 billion North American lumber industry. We have positioned ourselves extremely well to meet an expected continued surge in demand for fire-resistant and mold-resistant lumber in the new construction industry, especially in light of recent wildfires in San Diego County and mold-related housing condemnations following Hurricane Sandy in New Jersey and Long Island. We believe Eco Red Shield has the potential to replace existing entrenched chemical products in the wood treatment industry, with the potential to reach over $1 billion in sales."

The exact breakdown goes as follows: For backlogged ordres, up to $1.4 million in capital in equal installments of $350,000 over the next four months. By the fourth month, the company hopes to meet a sales goal of $1.5 million. Additionally, $800,000 in two tranches will go toward boosting production capacity (currently, the company’s capacity stands at $750,000 per month. The funds will boost that number to $2 million per month).

Eco Building Products is also entering into an expandable revolving credit facility agreement for $1.2 million to support its supply chain.

The growing demand for Eco Red Shield lumber comes on the heels of what the company considers a successful second pilot commercial launch program.

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Masco makes a couple of top-brass promotions

BY HBSDEALER Staff

Masco Corporation has promoted Richard O’Reagan to the title of group president, global plumbing, as well as brought on Jai Shah as president of Delta Faucet Company and group VP of Masco Corporation.

O’Reagan, who was previously serving as president of Delta Faucet, will now be responsible for that company as well as Hansgrohe, BrassCraft, Masco Canada, Liberty Hardware, Mirolin and Brasstech. He’s been with the company since 2008, when he joined as VP sales at Delta Faucet. He held a similar role at Mansfield Plumbing Products prior to that.

"Richard has consistently demonstrated his ability to develop high-performing teams, drive focus on the customer and deliver outstanding results," said president and CEO Keith Allman. "With his extensive experience in the plumbing industry and his proven leadership capabilities, I am confident that Richard will drive growth and continued innovation in this platform."

Meanwhile, Shah, who has been with Masco since 2003, will take over for O’Reagan (and then some). He will be moving on from his most recent role as VP/chief human resource officer. His resume also includes stints at JohnsonDiversey, Unilever and The Molson Companies.

"Over the years, Jai has contributed to the financial and strategic development of the Company," added Allman. "He is focused on the customer and, I believe, he will be instrumental in directing Delta into a new era of industry leadership."

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Glidden Paint unveils new HD paint palette

BY HBSDEALER Staff

Home Depot will set the stage for the launch of a new 488-color palette from PPG Industries’ Glidden brand.

As of June 1, the palette will be available to Home Depot customers nationwide as an intentional reflection of their preferences and behaviors.

“We found in our research that while consumers are generally confident about what color family they want, most experience a great deal of difficulty in selecting the exact shade to put on the wall,” said Rob Horton, PPG director of marketing, architectural coatings. “The new color palette for Glidden paint was thoroughly researched to make color selection less daunting and to help consumers clearly visualize how each color will work in their homes.”

A whole host of research went into the palette, including the manner in which customers process color, website traffic, sales data and geographical purchasing habits. It also borrowed inspiration from social media sites like Pinterest, as well as decor publications and catalogs. Eventually, the team put together some inspiration boards for eight color families.

“All of these connections allow us to truly understand the way people incorporate color into their homes and the reasoning behind their color choices," said manager of color marketing Barbara Richardson. "Our customers are very important to us, so the insights we gather from our research are used directly to build our color program.”

Home Depot customers will also be able to avail themselves of a newfangled retail display, which includes paint color chips with an actual photo of a room painted in that color, as well as an example of a "step up" and "step down" shade and recommendations for coordinating colors.

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