Outside of Cleveland area, Corlett Lumber closes
According to an article in Crain’s Cleveland Business, Corlett Lumber closed its doors in May.
The store started business in 1936 and moved to the suburb of Warrensville Heights in 1996. According to the article, it was joined in the suburbs shortly thereafter by two brand new warehouse home centers.
The company’s Corlett Garages business, including sales and installation of Corlett Garages, continues to operate.
No comments found
SPEC Building Materials makes acquisition
SPEC Building Materials Corp., a distributor of residential roofing materials based in Kansas City, Mo., has agreed to acquire the assets of Knoxville, Tenn.-based Exterior Materials. No purchase price was disclosed.
Exterior Materials is a full-service, multi-discipline organization of building envelope professionals, manufacturer’s representatives, and sales and distribution professionals who have been serving the commercial and industrial and architectural building markets since 1980. Exterior Materials provides a variety of services and training programs designed to assist industry professionals with assessment, specifications, application details and final inspection of each project. For many years Exterior Materials has sought environmentally sustainable solutions for the construction industry, including LEED compliant construction, garden and plaza construction and other roofing and waterproofing systems.
SPEC, a family owned and operated business, was founded in 1973 in Kansas City, Mo., by Mel Stevenson, current president and CEO. The company sells commercial and residential roofing supplies from 30 locations in 11 states: South Dakota, Nebraska, Kansas, Missouri, Arkansas, Oklahoma, Texas, Mississippi, Tennessee, Alabama and Florida.
Barry Satterfield, president and CEO of Exterior Materials, along with the professional sales and service staff, will remain with the company. The transaction is conditional upon the execution of a definitive agreement, completion of satisfactory due diligence, receipt of shareholder approval and other corporate approvals, regulatory approval and court approval, if necessary.
I wonder of SPEC building
I wonder of SPEC building materials is going on the path of eco-friendliness by acquiring Exterior Materials. Maybe they would follow up this acquisition with some other public relations event that would showcase their corporate social responsibility tendencies.
New-home sales rise in April
Sales of new single-family houses in April 2011 rose 7.3%, according to the U.S. Commerce Department, to an adjusted annual rate of 323,000. This increase over March’s figure of 301,000 units is still below April of 2010, when the estimated number of home sales was 420,000.
The median sales price of new houses sold in April 2011 was $217,900.
The nationwide inventory of new houses for sale at the end of April was 175,000 — a new record low, according to the National Association of Home Builders (NAHB). This represents a supply of 6.5 months at the current sales rate, according to the federal government.
No comments found