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HCN Stock Watch: BLDR, EXP down

BY HBSDEALER Staff

Stocks dragged their feet on Thursday, namely Builders FirstSource (BLDR) and Eagle Materials (EXP), which were down 4.65% and 4.41%, respectively.

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Irwin expands impact tool accessories line

BY David Salazar

Huntersville, North Carolina-based impact driver company Irwin has unveiled the second phase of its Impact Performance Series line of accessories. This phase expands the line beyond fastening into extracting, drilling and power bits.

“The second phase of the Impact Performance Series expands our initial offering, which was originally focused on the fastener drive category only,” Irwin’s marketing director, John Schlosser, said. “Irwin’s expansion … provides the right impact accessory for nearly all impact driver applications.”

One of the new products is a Tapcon installation system, which combines a bit for pilot holes with a sleeve that goes over the bit, turning it into a driver. Additionally, the series features double-ended power bits, which can be switched faster and can be used with Irwin’s magnetic screw-hold attachment.

Also in the new phase of products are screw- and bolt-grip extractors. The screw-grip extractors are also double-ended, and users can screw a hole into striped screws, then flip it over to extract it. The bolt-grip extractors use reverse spiral flutes to pull out rusted bolts, and will be sold in magnetic and non-magnetic sets.

The line also include bit holders and deep well sockets, as well as bits for masonry and metal and various extensions and adapters. 

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Boise Cascade adds former Weyerhaeuser, Buckeye execs to board

BY David Salazar

Kris Matula and Mack Hogans are the newest addition to Boise Cascade’s board of directors, the company announced Wednesday. The two join the board as longtime member Samuel Mencoff resigns.

Matula is the retired president and CEO of cellulose-based product manufacturer Buckeye Technologies, which Georgia-Pacific acquired in 2013. Before his time at the head of the company, Matula served as Buckeye’s CFO. He’ll serve on Boise Cascade’s compensation committee.

“Kris brings a strong manufacturing and financial background to our board,” said Boise Cascade chairman Duane McDougall.

Hogans, who currently runs his own consulting firm, is a former Weyerhaeuser SVP corporate affairs, a position he had until 2004. He will sit on Boise Cascade’s committee on governance and nominating. In addition to this board position, Hogan is the Cambia Health Solutions chairman and teaches at the University of Washington as an affiliate professor in the university’s school of environmental and forest sciences.

“Mack has had a very successful career in the forest-products industry and has remained actively involved in issues impacting our industry,” McDougall said.

Mencoff, who is co-CEO of Madison Dearborn Partners, leaves the board after nearly 10 years — a tenure that spans the length of time that MDP controlled Boise Cascade after buying it out for $3.7 billion in 2004. MDP sold off over $500 million of the company’s shares earlier this year.

“[Mencoff] and MDP have been great partners, and Sam made significant contributions to the company`s success in navigating through the housing downturn and taking advantage of the recovery under way,” McDougall said.

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