Snavely Forest Products expands decking lines
Snavely Forest Products — Dallas has expanded its product offerings to include TimberTech’s full decking and railing collection, which it will distribute statewide in Texas in addition to a complete line of AZEK products.
"We only invest in high-quality products," said general manager Dave Adams. "TimberTech decking and railing is the option we are produ to carry and provide to our customers in Texas."
The company cites a robust housing recovery in Texas and increased demand for new products in the building materials industry.
Snavely has corporate headquarters in Pittsburgh, Penn., with sales and distribution centers located in Pittsburgh, Maryland, Texas, Colorado and North Carolina.
Owens Corning celebrates its 75th anniversary
Insulation giant Owens Corning is celebrating its 75th anniversary.
"Our 75th anniversary provides a great opportunity to celebrate where we’ve been and who we are as a company, and get excited about our bright future," said Mike Thaman, chairman and CEO. "What makes our employees most proud is that our products improve people’s lives. Homes and buildings are more energy efficient. Cars are lighter and conserve more fuel. Wind blades are longer and stronger. Our commitment to our customers is to enable them to deliver those solutions to worldwide markets."
The company was founded on an initial discovery that glass building blocks could be made into commercial quantities of glass fibers. On Oct. 31, 1938, Owens-Illinois and Corning Glass banded together to create the Toledo, Ohio-based company.
Other recent milestones for the company include the 2014 Green Cross for Safety Medal from the National Safety Council, having reduced its injuries from more than 1,000 to less than 100 per year.
Owens Corning also earned placement on the Dow Jones Sustainability World Index for the fourth consecutive year – this time, as the Industry Leader for the DJSI World Building Products component.
BlueLinx Holdings swings to loss
Amid numerous restructuring programs, Atlanta-based distributor BlueLinx Holdings posted a net loss of $3.2 million in the third quarter ended Sept. 28. In the same quarter last year, the company posted earnings of $3.1 million.
Revenues for the fiscal third quarter increased 12.3% to $558.0 million from $496.8 million for the same period a year ago. Overall unit volume increased 11.9% compared with the same period a year ago.
Gross profit for the fiscal third quarter totaled $62.5 million, up 3.2% from $60.5 million in the year-ago period. Gross margins were 11.2% compared with 12.2% a year ago. Overall gross margins were impacted by a higher mix of lower-margin structural sales, low margin sales related to the closure of five distribution centers, and a highly competitive pricing environment. Same center gross margins were 11.5% compared with 12.1% a year ago.
"The implementation of the company’s previously announced restructuring program is proceeding as planned, and sales and operational initiatives are having a positive impact," said BlueLinx executive chairman Howard Cohen. "Despite the restructuring this quarter, the company achieved a significant improvement in same center results. We have regained sales growth momentum in higher margin specialty products, which grew 11.7% on a same center basis and increased the company’s adjusted EBITDA by $3.3 million or 118%.”
Cohen also said efforts to reduce costs and simplify the organization helped improve same-center performance.
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