LP sells decking business
Louisiana-Pacific (LP) has agreed to sell its composite decking business to Fiber Composites, maker of Fiberon decking and railing systems, for an undisclosed sum. The deal includes a manufacturing and distribution facility in Meridian, Idaho, and all rights to LP’s WeatherBest brand of composite decking and railing. The transaction is expected in close in October 2007.
Headquartered in New London, N.C., Fiber Composites has been looking for capacity and a regional distribution facility in the western United States, said Bill Ross, vp-sales and marketing. “This purchase satisfied both of those requirements immediately,” he explained. In addition to Fiberon, Fiber Composites also manufactures the Veranda decking and railing brand sold at Home Depot.
LP and Fiber Composites are two of the leading suppliers of composite decking in a highly fragmented industry with more than 30 manufacturers. Based in Nashville, Tenn., LP reported a second-quarter net loss of $23 million last week, with sales down 28 percent from the same period last year.
Castle Building Centres plans ‘Open to Buy’ days
Castle Building Centres, the Toronto-based home improvement buying group, has announced it will join the “Open to Buy” days event at this year’s National Hardware Show Canada (NHSC).
Castle Building Centres is an independent lumber and building Materials Buying Group with more than 220 locations across Canada. The NHSC will be held Oct. 16 to 17 at the Toronto Congress Centre.
“Castle Building Centres is a significant retailer in the Canadian home improvement retail space,” said Dennis MacDonald, senior vp of Reed Exhibitions and producer of NHSC.
In addition to Castle’s participation, new at this year’s NHSC is an expanded New Product World, an Inventor’s Spotlight which will showcase patent-pending products and the co-location of Garden Expo and Florist Expo.
Castle is a member-owned co-op; its dealers have access to more than 350 suppliers through their affiliation with Castle. The group is partnered with Reliance Buying Group, Mutual Hardware and Octo Plumbing Group.
True Value to hold Retail Growth Conferences
True Value will be holding three Retail Growth Conferences in August, giving members of the Chicago-based co-op an opportunity to share thoughts, ideas and concerns with president and CEO Lyle Heidemann and the senior management team.
The conferences include a series of breakout sessions, during which participants will share success stories and best practices that provide practical tools and suggestions for improving business results, the company said. This year’s topics include retail sales planning, financial management in a seasonal business and more.
In addition, True Value senior leadership will provide information about and updates on co-op initiatives and programs. The conferences are being held in Las Vegas (Aug. 1 to 2), Milwaukee (Aug. 8 to 9) and Boston (Aug. 22 to 23).