Tom Corrick named COO at Boise Cascade
Boise Cascade Company has named Tom Corrick to the post of COO. Additionally, it has named Dan Hutchinson EVP Wood Products (replacing Corrick) and Wayne Rancourt as EVP, CFO and treasurer.
Corrick will be transitioning from his most recent role as EVP Wood Products, which he has held since June of this year. Before that, he served as SVP since February 2011 and VP Engineered Wood Products before that.
"Tom has championed our growth in the engineered wood products business so that we are now a recognized leader in the industry," said CEO Tom Carlile.
In turn, Hutchinson will move on from his most recent role as VP Wood Products, which he held since August 2012. He has also served as general manager of operations for the EWP business.
Rancourt has been serving as SVP, CFO and treasurer since August 2009, before which he held the title of VP, treasurer and investor relations.
Home Franchise Concepts CEO supports the troops
Budget Blinds, acustom window covering franchise and Home Franchise Concepts brand, has partnered with national non-profit Homes for Our Troops to provide specially adapted, mortgage-free homes for severely injured Veterans who served in Iraq and Afghanistan.
Through this partnership, Budget Blinds will provide window coverings in ten homes across the country between Nov. 1 and Dec. 31, 2014, and in every HFOT home over the next three years. The homes built for these Veterans will help to restore the freedom and independence that they sacrificed while serving our nation and enables them to focus on family, recovery and re-building their lives, the company said.
“At Home Franchise Concepts we share a strong commitment to supporting Veterans who have served our country. Many of our founders have personal connections to the U.S. Armed Forces as do a number of our franchisees across the country,” says Chad Hallock, Chief Executive Officer of Home Franchise Concepts. “It is our hope that the synergies between Budget Blinds and Homes for Our Troops will continue to honor returning Veterans for years to come.” Homes will be built in Hopkinton, New Hampshire; Somerville, Tennessee; Hillsboro, Oregon; McLendon-Chisholm, Texas; Murrieta, California; Marysville, Ohio; Mesa, Arizona; Dadridge, Tennessee; Yacaipa, California; and Polson, Montana.Springs Window Fashions donated the window treatments that will be used in these homes.
Masonite sales up 9.9% in Q3
Masonite International Corporation reported strong results in the third quarter of fiscal 2014, results the company attributed to meaningful progress in price and volumes.
“Higher unit volumes, an increase in average unit price and tight cost control all contributed meaningfully to our strong third quarter results,” said Fred Lynch, president and CEO. “We are encouraged by the improving construction industry fundamentals and believe our focus on automation, product line leadership, electronic enablement, sales and marketing excellence and portfolio optimization positions us well for the future.”
Net sales for the three months ended Sept. 28 were $476.1 million, up 9.9% from last year’s third-quarter sales. A closer look at the progress reveals a 6.6% increase in unit volumes and 4.4% increase in average unit price, offset by a 0.6% foreign exchange headwind.
However, the company posted a loss of $9.71 million for the quarter, compared to positive net income of $4.45 million in the third quarter of 2013.
The company noted the impact of a power plant explostion in its Estcourt Mill in South Africa on June 6, as well as a Stay of Proceedings sought by Masonite Israel Ltd. from the Israeli courts (results from the Israel business were deconsolidated beginning Aug. 21 and restructuring costs of $9.7 million were included in the net income count for the third quarter).