Parr Lumber to carry flood mitigation products
Pacific Northwest pro dealer Parr Lumber has partnered with Smart Vent Products, a provider of flood mitigation products. Smart Vent protects buildings from the devastation and destruction that hurricanes, floods or other natural disasters can cause through its line of automatic foundation flood vents. These products are certified by the International Code Council Evaluation Service (ICC-ES) and accepted by the Federal Emergency Management Agency (FEMA). Each standard model is certified for 200 sq. ft. of flood coverage per unit.
“Our new partnership with Smart Vent Products provides Parr Lumber locations throughout the Pacific Northwest access to a high-quality product line that adds value to our disaster preparedness product offering,” said Tom Pickett, a senior buyer at Parr Lumber Co. “The Smart Vent product line provides one more tool in our tool box, to help our communities and individual property owners prepare for, and recover from, a natural disaster.”
To ensure that all Parr Lumber locations were properly trained, Greg Boyle Distribution Coordinator and Certified Floodplain Manager for the New York-based Smart Vent, spearheaded an extensive product knowledge session with each of the Parr Lumber branches
“By training each Parr Lumber location on the Smart Vent product line and flood regulations, we are confident that anyone walking into their locations will leave with the correct model and an increased awareness of why it’s important to flood vents,” said Boyle. “Parr Lumber is an integral part to our success in the Northwest, and we are extremely pleased to be partnering with them.”
Parr locations in Oregon that are properly trained and certified as Authorized Smart Vent Dealers include: Salem, Albany, Rockwood, West Linn, Hillsboro, Forest Grove, Raleigh Hills, Prineville, Klamath Falls, Medford, Burns, Eugene and Newberg. In Washington, it includes Parr Lumber’s Marysville, Spokane, Tacoma, Vancouver and Pasco.
Double-digit sales rise for Beacon Supply in 2012
Beacon Roofing Supply, one of the nation’s largest distributors of roofing, siding and other exterior building products, reported sales of $598.1 million for its fourth fiscal quarter, a 3.9% increase from sales of $575.6 million in the same period a year ago. Existing market sales, which exclude branches acquired after the beginning of the quarter, declined 5.6%. In existing markets, residential and non-residential roofing product sales decreased 3.3% and 10.5%, respectively, while complementary product sales increased 1.2%. This year’s fourth-quarter sales were primarily impacted by lower roofing activity in the markets affected by last year’s hail storms, partially offset by the benefit of slightly higher overall average selling prices.
Net income for the fourth quarter, which ended Sept. 30, was $27.9 million compared with $31.3 million in 2011.
In year-round figures, total sales increased 12.5% to $2.04 billion in 2012 from $1.82 billion in 2011. Existing market sales increased 6.3% (7.6% based on the same number of business days). Residential and non-residential roofing product sales in existing markets increased 11.8% and 2.3%, respectively, while complementary product sales declined 0.4%. Annual sales were favorably impacted by increased re-roofing and remodeling activities in the first half of the this year, including the impact from improved weather conditions and stronger business in several markets that experienced significant storms during the course of last fiscal year, and by higher average selling prices.
Annual net income was $75.6 million in 2012 compared with $59.2 million in 2011.
Paul Isabella, president and CEO of the Peabody, Mass.-based company, said in a prepared statement: "We are very pleased with our record quarter and annual 2012 results, which exceeded our expectations. Our total sales benefited from the positive impact of acquisitions and from a 6% increase in existing market sales for the year. The adjusted fourth-quarter net income exceeded last year’s adjusted net income, even though we were facing a very challenging comparison to last year’s fourth quarter, when there were substantial roofing activities from hail storms. We are confident in the long-term growth opportunities available in our industry and are actively investing to realize those opportunities, such as with our most recent acquisition of McClure-Johnston."
LP to Buy Canfor’s share in OSB joint venture
Louisiana-Pacific Corp. has entered into an agreement with Canfor Corp. to acquire Canfor’s 50% share in the Peace Valley Oriented Strand Board (OSB) joint venture in Fort St. John, British Columbia. By completing this acquisition, LP will become the sole owner of the Peace Valley OSB mill.
“The Peace Valley mill has been a safe, productive and important part of our OSB strategy for the past seven years,” LP CEO Curt Stevens said. “The mill will continue to play an important role in LP as the housing market rebounds.”
The purchase price is estimated at C$75 million, including working capital. In addition, Canfor may receive additional annual consideration over a three-year period based on Peace Valley OSB’s annual EBITDA.
LP and Canfor currently jointly run the mill, with LP providing operational support while Canfor provides labor, fiber resource management and administrative services. LP already sells 100% of the product made there under the LP brand, so customers will see no change in product quality or service.
Once the agreement closes, Canfor will continue to provide fiber resource management and temporarily provide administrative services during the transition.
The completion of this transaction is expected to occur by the end of this year, but is subject to the parties agreeing to final terms and conditions, the completion of due diligence, obtaining necessary regulatory approvals and the execution of definitive agreements.
The Peace Valley mill has an annual production capacity of 820 million sq. ft. of OSB. It currently operates three shifts with plans to add a fourth shift in the first quarter of 2013 depending on market conditions.