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Rayonier Advanced Materials names CFO

BY HBSDEALER Staff

In continuation of its personnel expansion for the new post-split company, Rayonier Advanced Materials has appointed Benson Woo to the title of CFO.

The move was precipitated by the recent split from Rayonier of its Performance Fibers businees, now known as Rayonier Advanced Materials.  

Technically, Woo will start out as chief accounting officer of Rayonier, effective June 9. He will assume his ultimate role following the June 27 separation of the Performance Fibers business unit, which will become the standalone company known as Rayonier Advanced Materials.

“Benson’s strong record of financial leadership in the manufacturing sector and his knowledge of global markets will benefit us greatly as we look to grow Rayonier Advanced Materials after the separation,” said Paul Boynton, CEO of Rayonier and future chairman, president and CEO of Rayonier Advanced Materials. “With the addition of Benson, I’m confident that the new senior leadership team for Rayonier Advanced Materials possesses the talent and experience necessary to continue to deliver the long-term value that our shareholders have come to expect from our business.”

Woo has more than 30 years of experience in various financial and executive roles, most recently as EVP and CFO of Prestolite Electric. He spent 15 years at General Motors, as well as held various positions with Case Corporation, York International Corp. Metris Companies, TriMas Corporation and Tower Automotive.

“I’m honored to be joining Rayonier at this exciting time,” Woo said. “As the world’s leading producer of high-value specialty cellulose fibers, Rayonier Advanced Materials will be well positioned for continued growth and market leadership. I hope that my experience will bring valuable insight to the company’s financial operations and growth strategy.”

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PPG is acquiring Homax Group

BY HBSDEALER Staff

PPG Industries’ North American architectural coatings business is acquiring The Homax Group, Inc., a supplier of decorative wall and ceiling texture repair products part of the Olympus Partners portfolio.

Beyond aerosol drywall and ceiling texturing applications, Homax also supplies epoxy finishes, patching, caulking and mesh tape repair products, and other painting tools and accessories.

“Homax products represent a new and unique offering for our customers,” said Scott Sinetar, VP architectural coatings, North America. “The acquisition supports our continuing commitment to providing professional and do-it-yourself customers with leading coatings and related home remodeling and repair products.”

The deal is expected to be finalized in the third quarter of this year, though specific terms of the agreement were not disclosed.

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Home channel brands gear up for Father’s Day

BY HBSDEALER Staff

If we didn’t know better, we’d say Father’s Day and the home improvement industry were practically made for each other. No other industry — aside from maybe the neck-tie market — has as much to offer during mid-June.

As it so happens, a few home channel brands are already warming up for the holiday with Father’s Day products and marketing campaigns.

For example, Lowe’s teamed up with well-known DIY personalities to come up with inspired "blueprints" for projects to do with Dad this Father’s Day. Jay Riordan of American Dream Builders, Bruno Bornsztein of ManMade, Timothy Dahl of Charles and Hudson, and Marty Csercsevits and Pete Fazio of DadAnd (among others) helped craft blueprints for creating a vegetable garden or building a DIY arbor, hosting an outdoor Father’s Day party and more.

Meanwhile, Craftsman is giving away a "MAKEcation" weekend, as well as coming up with its own "Dad" anthem and bacon wrapping paper.

The MAKEcation (self-described as "a fantasy camp for tool enthusiasts) is hosted by actor and comedian Rob Riggle, as well as a team of expert instructors. Through July 12, Craftsman Club and Shop Your Way members can enter for a chance to win a spot on the four-day trip, which takes place at Lake Arrowhead Resort and Spa in California over Labor Day weekend. A spot on the trip can also be purchased for $5,000.

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