Feldman brings California Redwood to the East
Eureka, Calif.-based The California Redwood Co. announced it established a new distributor relationship with Feldman Wood Products to serve a growing demand for its products in New York, New Jersey and Connecticut. By May 1, Feldman will have various sizes in stock.
“Bringing our product from one coast to the other is a fantastic opportunity for The California Redwood Co.,” said Carl Schoenhofer, VP and general manager for The California Redwood Co.
Classic Heart is the type of redwood to be offered through Feldman Wood Products. Using hand-selected, heartwood-only boards, the result is a deep red and uniform appearance throughout the application. Heartwood comes from the inner portion of the tree and contains properties that render it resistant to insects and decay.
Feldman will stock 5/4 and 2×6 eased edge Classic Heart redwood decking in lengths up to 20 ft., as well as 2×2 cuts for balusters and 4×4 cuts for posts.
“We know there is a demand for quality redwood on the East Coast," said Richard Kahn, sales manager, Feldman Wood Products.
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GAF donates roof for TV special
Wayne, N.J.-based GAF, the largest roofing manufacturer in North America, will contribute all roofing materials in this week’s episode of the ABC television show "Extreme Makeover: Home Edition."
“This is our fourth ‘Extreme Makeover: Home Edition’ project in the past six months, and we are pleased to be given the opportunity to continue contributing to these life-changing projects,” said Ted Marcopolus, VP marketing services at GAF.
The May 1 show features Marine Staff Sergeant Bill Dickinson’s family. Dickinson has served as a member of the military for 17 years and is currently stationed half a world away from his wife and five kids. Their home is falling apart due to spreading mold damage, bad electrical wiring, an inadequate foundation and flood damage. All contractors who have been asked to evaluate the damage have reached the same conclusion: The home should be bulldozed, according to GAF.
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BlueLinx announces $60 million stock offering
In an effort to raise $60 million, building products distributor BlueLinx has announced it will commence a rights offering of common stock to its stockholders. The proceeds will be used to pay down debt and fund working capital, the company said in an April 26 filing with the Securities and Exchange Commission (SEC).
BlueLinx plans to distribute to its common stockholders transferable rights to purchase up to $60 million of its common stock.. In addition, stockholders may oversubscribe for additional shares of common stock. The company anticipates that the record date and the subscription price will be determined at or about the time that the SEC declares the company’s registration statement effective. The subscription rights are expected to trade on the New York Stock Exchange under the symbol BXC RT.
Cerberus ABP Investor LLC, who owns approximately 55% of the company’s common stock, will backstop the rights offering, subject to certain conditions, by purchasing shares of common stock that relate to any rights that remain unexercised. The investment agreement may be terminated by the company if the board of directors finds an alternative transaction that they consider more favorable for the company.
Headquartered in Atlanta, Georgia, BlueLinx is a leading distributor of building products in North America, with more than 750 suppliers to service approximately 11,500 customers nationwide, including dealers, industrial manufacturers, manufactured housing producers and home improvement retailers. The company operates its distribution business from sales centers in Atlanta and Denver, and its network of 60 distribution centers.
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