Great Southern aligns with U.S. Lumber
Abbeville, Ala.-based Great Southern Wood Preserving formed an alliance with specialty building materials distributor U.S. Lumber Group.
Under the new alliance, an affiliate of Great Southern will become a minority investor in U.S. Lumber and customers of both companies will leverage the benefits of increased volume purchasing and sharing of "best practices." No jobs will be adversely affected, nor are management changes anticipated, the companies announced.
The move is designed to expand the geographic distribution footprint of both companies, give customers the benefit of new economies of scale, and create new growth momentum, the companies announced.
The alignment was further described as a "innovative marketing and operations model."
"This is an exciting development for both companies, our employees and customers," said Jimmy Rane, chairman, president and CEO of Great Southern Wood Preserving. "It will create a vehicle for growth at a time when the economy in general and new housing starts in particular continue to struggle."
Great Southern will gain new markets for its YellaWood brand products through U. S. Lumber’s distribution network, expanding in mid-Atlantic states. At the same time, U. S. Lumber will widen its reach by making its broad range of specialty products available in Great Southern’s extensive dealer base in the Midwest, Southwest and the Caribbean.
W.R. Meadows revamps website
Hampshire, Ill.-based building materials manufacturer W.R. Meadows launched a new website — wrmeadows.com.
Among the new changes are more project photos, a product spotlight for new products and new social media features. These features include a live Twitter feed, so users can follow tweets as they happen, and links to their Facebook, LinkedIn and YouTube pages.
The basic feel and navigation of the website has remained unchanged, the company said. The website has been redesigned to give it a more contemporary feel.
Older content is still available, including access to product data sheets, material safety data sheets and project profiles.
Huttig Building Products reports 2010 results
Huttig Building Products, the St. Louis-based distributor, reported net sales of $467.7 million for fiscal 2010, a 2.7% increase from net sales of $455.2 million the previous year, according to an annual report filed with the Securities and Exchange Commission.
Net loss for the fiscal year, which ended Dec. 31, 2010, was $18.9 million, compared with $20.5 million in 2009.
On Sept. 3, 2010, Huttig amended and restated its existing credit agreement, establishing a four-year, $120 million, asset-based senior secured revolving credit facility. The company’s excess borrowing availability at Dec. 31, 2010, and Feb. 18, 2011, was $26.7 million and $34.3 million, respectively, and exceeded the $10.0 million required on both those dates. This agreement matures in September 2014.
In terms of category sales, millwork accounted for 48% of revenues, general building products for 41% and wood products for 11%.
Huttig served more than 4,800 customers during 2010, with Lumbermen’s Merchandising Corp. (LMC) accounting for 11% of sales in 2010, according to SEC documents. Building materials pro dealers represented the distributor’s single largest customer group. Its top 10 customers accounted for approximately 39% of total sales in 2010.
Huttig is a two-step distributor of lumber, panels, decking, windows, doors, fasteners and other building materials. The company serves 41 states through 27 distribution centers.