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IKEA raise $12M for UNICEF

BY HBSDEALER Staff

The IKEA Foundation, with the help of its customers and employees, have donated $12 million to UNICEF and Save the Children for projects that will help create opportunities for children to have access to a quality education.

Thanks to this year’s Soft Toy for Education 2012 donation, The IKEA Foundation will support 18 UNICEF and Save the Children projects in 17 countries. UNICEF’s share will fund the Schools for Africa initiative in eight countries and the Schools in Asia initiative in China. Save the Children’s equal share will support education for children in the most marginalized groups in Asia and Eastern Europe.

In the United States, IKEA raised more than $1 million through the sales of soft toys and children’s books. 

Since 2003, the start of this annual campaign, the IKEA Foundation has raised nearly $74 million.

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Lennox points to strong residential business

BY Ken Clark

Heating and air conditioning giant Lennox International reported fourth-quarter revenue of $685 million, up 6% from the prior-year quarter.

For the full year, revenue was $2.9 billion, up 4% from the prior year. At constant currency, revenue was up 5%. 

"The company’s performance in 2012 was led by our residential business, which significantly outperformed the market on gains in replacement business and strong growth in new construction," said chairman and CEO Todd Bluedorn. "Residential revenue was up 9% with profit up 17% for the year. In the face of flat commercial markets in 2012, our refrigeration and commercial businesses had strong operational performance. Refrigeration revenue was flat at constant currency with profit up 6%." 

For the fourth quarter, adjusted income from continuing operations was $29 million, the same as the prior year quarter.

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Market Recap: RISI Crow’s Construction Materials Cost Index

BY HBSDEALER Staff

A price index of lumber and panels used in actual construction for Feb. 1, 2013

*Western – regional species perimeter foundation; Southern – regional species slab construction.

Crow’s Market Recap — A condensed recap of the market conditions for the major North American softwood lumber and panel products as reported in Crow’s Weekly Market Report.

Lumber: SPF producers searched more earnestly for a price floor early and began to draw more interest Thursday morning, after buyers heard of a significant order placed by China. An up-limit futures move also provided incentive for buyers to participate in greater numbers. Seeing growing weakness in Southern Pine dimension lumber prices, buyers withdrew from the market. Producers found orders difficult to garner, particularly if they were less open to deeper discounts. Producers in the Coastal species lumber market listened to counters early and accepted them for some items. Narrow widths were clearly weaker than wides. At midweek, buyers stepped in to purchases increased volumes. Inland species lumber prices were discounted early, enabling mills to sell greater volumes. Prices recovered all the lost ground and then some by the end of the week. Radiata Pine Mldg&Btr traded in a narrow range of published levels, although one report of prices considerably higher was circulating. Availability was, at times, a frustration to both buyers and sellers. Although prices do not reflect any change, Ponderosa Pine Moulding and Shop lumber markets displayed a bit more energy. Limited availability, along with a modest uptick in demand, was enough to move the price of Ponderosa Pine Selects and Commons higher. After a long run of near parity between supply and demand, the pendulum swung in favor of producers. Steady sales of ESLP #2&Btr and #3 were reported. Eastern White Pine producers reported good sales of Standard and solid order files. The major influence on the Western Red Cedar market remained the lack of fiber and subsequent strong sales volumes. Buyers continued to purchase even further into 2013, trying to maintain a steady stream of supplies now extending well into the second quarter.

Panels: The OSB market was uneventful in most regions of the U.S. and downright slow in others. Western Canada saw a slight rally, as reports of a fire at an OSB mill circulated. Hints of moderately improved demand at week’s end in the Southern Pine plywood market took a backseat to the limited buying mills experienced throughout the week. Urgency on the part of mills to sell off Western Fir plywood volumes provided an opportunity for some distributors to garner sheathing at considerable discounts. After those prices were tested, producers raised prices off those floors. The Canadian plywood market saw little impact from the WRLA show or upcoming road restrictions. It did see a window of price adjustment, as a major producer discounted loads of standard panels. Steady particleboard sales kept prices steady yet soft in some instances. Mills continued to take turns pressing their MDF prices higher, with a producer announcing increases for March for moulding manufacturers.

For more on RISI, click here.

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