Stock CEO approves of macro trends
Jeffrey Rea, CEO of Stock Building Supply, offered investors a favorable view of economic trends affecting LBM.
In a statement accompanying the company’s third-quarter earnings report, Rea said:
"While we expect the normal seasonal and weather-related slowdown in our business as we enter the winter months, we believe macroeconomic trends remain favorable for year-over-year improvement in our core markets. With the short- and mid-term objective of accelerating both our revenue growth and profitability, we plan to continue to invest in our strategic initiatives to better serve our core customers, expand our capacity and increase our operating capabilities."
Stock posted a sales gain of 28.4% in the quarter.
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Roxul turns up the heat on stone wool at PDIS
Roxul Inc., based in Milton, Ontario and Grand Forks, B.C., required a compulsory warning sign next to its ProDealer Industry Summit display in Nashville last week: its live product demonstration involved a flame that was continuously pointed at its stone wool insulation for hours on end.
According to sales representative Dan Brown, people have been slow in the past to realize that the flame was indeed real.
The Roxul Safe’n’Sound and Roxul Comfortbatt on display was capable of resisting more than just fire: it is also water-repellant and sound-absorbant, demonstrated by dipping the product sample into a bucket of water and completely muffing out the sound of a loud alarm.
The stone wool is sourced from basalt rock, which is dried lava that occurs naturally as a result of volcanic activity. Thanks to its non-directional fiber orientation, it also resists mold, mildew, rot and bacterial growth, insuring homeowners against a spate of environmental hazards.
According to the company, the higher R-value of Roxul insulation can save up to 30% on energy bills.
Mexico denies Sherwin-Williams over Consorcio Comex, again
Mexican regulators turned down Sherwin-Williams in its appeal over the purchase of paint company Consorcio Comex, which it had purchased in September but failed to secure the necessary regulatory approval from the Federal Competition Commission of Mexico.
The FCC had reportedly turned down the deal in a 3-2 vote in July, but the company had gone ahead with its announcement in September. Sherwin-Williams was informed Tuesday night of the FCC’s decision to deny its appeal.
At the moment, Sherwin-Williams is considering its options, which include filing for approval again.
The deal involved $90 million in cash as well as the assumption of Comex’s liabilities, valued at $75 million.