Former Stock exec joins start-up company
Jess Brown, a Wolseley veteran who worked at both Stock Building Supply and Ferguson Enterprises, has been named VP and chief information officer at RelaDyne, a provider of lubrication products and services for equipment management.
Brown spent nearly 24 years with London-based Wolseley, holding positions with the global building materials supplier, as well as its U.S. units. At Ferguson, Brown held a variety of technical and business operations positions. Most recently he was involved in optimizing Ferguson’s SAP computing platform, as well as establishing programs to gather market intelligence, gauge customer service and establish regional administrative services. Earlier, he was director of business operations.
At Stock Building Supply, where Brown worked from 2008 to 2009, he developed common business processes to facilitate system utilization. Prior to this, Brown was director of Software Applications at the Wolseley Group, from 2004 to 2008. He began his career at Ferguson in 1987 as a support analyst, and steadily rose through the ranks to the position of director of information technology from 2001 to 2004.
RelaDyne, headquartered in Cincinnati, provides integrated equipment reliability management products and services for industrial, commercial, transportation and automotive businesses in the United States. It was formed in November 2010 when four companies — Mid-Town Petroleum, Oil Distributing Co., The Hurt Co. and Pumpelly Oil Co. — joined together.
Great Southern Wood buys into U.S. Lumber
Great Southern Wood Preserving has bought a minority share of U.S. Lumber Group, an Atlanta-based building products distributor, according to an article in the Alabama Press Register.
As part of the deal, U.S. Lumber will begin distributing Great Southern’s pressure-treated and kiln-dried lumber products, which will be sold under the YellaWood brand.
A spokesman for U.S. Lumber told the newspaper that the Abbeville, Ala.-based distributor will now be able to sell its products from South Carolina through Maryland, where YellaWood is not now available. U.S. Lumber will sell its specialty products to existing Great Southern dealers in the Midwest, Southwest and Caribbean.
Great Southern has 10 treating plants and is building an 11th plant in Brookhaven, Miss., according to the article.
Boise posts Q4 loss
Boise Cascade Holdings has announced a $16.2 million net loss for its fourth fiscal quarter, which ended Dec. 31, 2010. This compares with $33.6 million in profits during the same quarter of 2009. Loss from operations in the fourth quarter of 2010 was $11.8 million, compared with an operational loss of $21.1 million in the same quarter a year ago.
For the full year, BC Holdings reported a net loss of $6.1 million, compared with a $19.0 million loss during fiscal 2009. During fiscal 2010, BC Holdings sold its remaining equity interest in Boise Inc. for net proceeds of $86.1 million and recognized a $25.3 million gain. The company contributed the proceeds to its wholly owned operating subsidiary, Boise Cascade L.L.C.
Net sales for the fourth quarter were $505 million, a 13% increase over $447 million in the corresponding quarter of 2009. The company reported full-year 2010 sales of $2.2 billion. For the previous year, net sales were $2.0 billion.
Building Materials Distribution (BMD) segment sales were $402.7 million in the fourth quarter, up 9% from the same quarter a year ago. Prices for the segment were up approximately 8%, with volumes up about 1%. For the full year of 2010, BMD reported $1.8 billion of sales.
In the Wood Products segment, sales in the fourth quarter were $156.6 million, up 14% from the same quarter a year ago. The sales increase was attributable primarily to 12% higher plywood sales volumes, 7% higher I-joist sales volumes, 12% higher I-joist net selling prices and 13% higher laminated veneer lumber net selling prices. For the full year of 2010, Wood Products reported $687.4 million of sales.
The main factors contributing to the improved financial performance were improved product pricing for engineered wood products and lower per-unit manufacturing costs for plywood, according to the company’s financial report.
In a prepared statement, company CEO Tom Carlile referenced the continued slowdown in residential construction.
“I am proud of how both of our businesses performed last year at the second lowest level of housing starts in over 50 years,” Carlile said. “Our Wood Products and BMD operating segments reported a combined $38.1 million of EBITDA, which was a $66.8 million year-over-year improvement. In addition, we were able to improve our net debt position by $61 million in 2010, and we are well positioned for the year ahead,”
BC Holdings is a privately held company headquartered in Boise, Idaho. Its wholly owned subsidiary, Boise Cascade, L.L.C., is a leading manufacturer of engineered wood products and plywood in North America, as well as a distributor of other building products.