Masonite’s sales up 4.7% with net income loss in Q2
Masonite’s second quarter results pointed to strong year-ago gains of 4.7% to $453.1 million in net sales, though the company sustained a loss in net income.
Specifically, net income loss attributable to Masonite totaled $1.21 million, a gain compared to 2012’s Q2 loss of $3.89 million.
“Second quarter results reflect a strengthening U.S. housing market and on-going benefits from our strategic tuck-in acquisition program,” said Fred Lynch, president and CEO of Masonite. “Pricing actions taken in the first quarter led to improvements in the average unit price achieved in North America. Also, our decision to proactively discontinue certain unprofitable product lines and exit select markets in Europe also contributed meaningfully to second quarter results.”
Masonite’s position in Q2 was strengthened by other meaningful expansions, including its recent acquisition of the door manufacturing operations of the Chile-based Masisa S.A.
Plum Creek Timber creates new post for Punke
Plum Creek Timber appointed Timothy Punke as senior VP, corporate affairs and public policy, effective Oct. 1.
His responsibilities will include oversight of government relations, communications, sustainability and environmental affairs. He will report to CEO Rick Holley.
Before being tapped for the newly created position, Punke served in a variety of leadership roles during his nearly 20-year career in federal government affairs and communications. He joins Plum Creek from Monument Policy Group, a bipartisan public policy consulting firm with offices in Washington, D.C., and Seattle, and was previously a partner at the law firm of K&L Gates
“Tim’s breadth of experience and expertise in the corporate affairs and public policy arenas make him an excellent addition to our leadership team,” said Holley. “The creation of this new position underscores the increasing importance of these functions in helping achieve corporate objectives, and the role Plum Creek and the industry can serve in helping address multiple challenges and opportunities, such as those related to the economy, energy and climate.”
Punke earned a Bachelor of Arts and Juris Doctor from Cornell University.
New England lumber wholesaler adds Fiberon to mix
New London, N.C.-based Fiberon teamed with distributor Coastal Forest Products to deliver composite and PVC decking and railing products to lumberyards on Long Island and the eastern counties in New York, and all of New England.
“Coastal Forest Products is a trusted company serving New England,” said Doug Mancosh, president of Fiberon. “Their service footprint expands our distribution geography and increases our presence in these key markets."
Fiberon PVC and composite decking and railing products are sold to professional contractors through a national and international network of distributors and retail outlets.
Coastal Forest Products is an East Coast provider of specialty products based in Bedford, N.H.