Patrick Lumber names new president
Portland, Ore.-based Patrick Lumber’s board of directors elected Dave Halsey to succeed Jim Rodway as president.
The specialty lumber remanufacturer, distributor and exporter Patrick Lumber, which will celebrate its 100th anniversary in January, announced the change Friday.
Rodway spent his entire career with Patrick Lumber, joining the company immediately upon graduating from Oregon State University in 1979. He became president of the company in 2001 when the current management team took controlling interest in the company. Rodway was the company’s fifth president. His predecessor, Bob McCracken, had held the president position for the previous 25 years.
Halsey, too, has spent his entire career in the lumber business, starting out at Disdero Lumber in 1986 after graduating from Oregon State. He later ran K/D Cedar in California before joining Patrick Lumber in 1997. Halsey, along with Rodway and current Chairman Patrick Burns, purchased the company from McCracken, Ron Yeager and Tom Carstensen in 2001. Halsey has filled the role of vice president of sales since that time.
Halsey and Rodway will work closely together during the remainder of this year to ensure a smooth and successful transition, the company said.
Toro launches centennial grant and donation programs
In honor of its year-long centennial celebration, The Toro Company has launched its Legacy Grant Program and Annual Product Donation Program.
The Legacy Grant Program will help fund the efforts of non-profit organizations to enhance and preserve green spaces, as well as organizations that take an active stance in educating the public in water conservation strategies.
Meanwhile, the Annual Product Donation Program will provide organizations with equipment and irrigation donations in order to help them achieve impact in their communities, whether by improving green spaces or providing job-skills training.
An online application form will be available for the first time on its website.
Despite Q4 slip, LP net income surges in 2013
Louisiana-Pacific’s net income shot up to over five times its 2012 totals in 2013, even though the company posted a loss in the fourth quarter.
Net sales for the quarter ended Dec. 31 were $479.7 million, up from year-ago figures of $453.9 million. For the full year, sales were up 23.3% at $2.09 billion.
Net income for LP came in at a loss of $20.4 million for the quarter, compared to 2012’s fourth-quarter income of $46.1 million. However, LP more than made up for it over the course of 2013, generating $177.1 million in income over 2012’s $28.8 million.
“Each of our segments recorded positive adjusted EBITDA in the fourth quarter and combined to generate $330 million of EBITDA for the full year of 2013,” said Curt Stevens, CEO. “At about 920,000 housing starts in 2013, LP shipped record volumes of our SmartSide siding and a variety of value-added OSB products. This performance bodes well for the future as housing continues to improve.”