Trex issues warnings for Q2 results
Composite deck maker Trex has announced preliminary second-quarter results, predicting lower-than-expected revenues of $78 million, as opposed to previous expectations of $115 million.
In a prepared statement, chairman, president and CEO Ronald Kaplan commented: "Sales did not materialize as expected during the second quarter. Poor weather and, to a lesser extent, the unfavorable macroeconomic environment caused the lower-than-expected revenue performance. Many parts of the country experienced major winter storms through April, which were then followed by heavier-than-normal precipitation during most of May, further delaying the start of the decking season. As a result, our trailing nine-month revenue through June was down approximately 4% compared with the prior year. We believe that the external factors influencing our sales are also impacting the overall market and that we continue to expand Trex’s industry-leading market share.”
Kaplan also noted that sales order activity in June exceeded order activity in June 2010 by 15%, and order activity in the first week of July is outpacing July of last year. “As we move further through the month, we will be in a better position to provide more detailed third-quarter revenue guidance when we report our second-quarter financial results on Aug. 1, 2011," Kaplan said.
CertainTeed CEO retires
Peter Dachowski, president and CEO of CertainTeed, has announced his retirement, effective Aug. 31, 2011.
He will be succeeded by John Crowe, who is currently the president of Saint-Gobain’s global abrasives business. Crowe has held numerous leadership positions within the Saint-Gobain group of companies over the past 30 years. As the president of Saint-Gobain Abrasives, he is responsible for 13,000 employees and approximately 75 manufacturing facilities in 24 countries.
Dachowski spent 35 years with CertainTeed Corp., and its parent company Saint-Gobain. He served in a long progression of executive roles in finance and global management. Prior to joining CertainTeed in 1976, Dachowski worked for Exxon Treasurers and the Boston Consulting Group.
At CertainTeed, Dachowski was quickly promoted to VP and treasurer and later, corporate comptroller. Through the late 1980s, despite an economic downturn, he led significant growth in CertainTeed’s roofing, ventilation, siding and window businesses through new product innovations and acquisitions. In the early 1990s, his responsibilities were expanded to include all of CertainTeed’s building materials manufacturing and wholesale distribution businesses.
In 1996, Dachowski was appointed as president of Saint-Gobain’s worldwide insulation business, based in Paris, driving significant growth particularly in Eastern Europe and Russia, expanding the ceilings business in the Far East, restoring the profitability of the stone wool business and developing a common global brand identity.
Since his return to North America as president and CEO of CertainTeed in 2004, Dachowski has led key initiatives focused on quality, innovation and sustainability that have positioned the company as a major player in both residential and commercial building products. Under his direction, CertainTeed expanded significantly into Canada, established an industry-first building science team and launched revolutionary product innovations, such as AirRenew volatile organic compound (VOC) scavenging drywall, the EnerGen photovoltaic roofing system and Landmark Solaris solar reflective roofing shingles.
Blue Ridge Lumber celebrates 50 years
Some 300 contractors helped celebrate the 50-year anniversary of Blue Ridge Lumber, based in Blairstown, N.J.
Founders Grace and Donald Ackerson were also on hand, with live entertainment and a vendor expo. Some 25 vendors took part in the event as well.
Fifty years ago, the Ackersons leased a small portion of Read’s Apple Jack distillery and started the company with determination, plenty of dreams and very little capital, according to the company. By the late 1960s, the company had grown enough to buy the cider mill and in 1972 constructed a new building across the stream, where the Blairstown location is now. Don and Grace worked together for 32 years and built a very successful business, which employed more than 25 people in the late 1980s. The Blairstown yard remains the corporate headquarters today.
In 1992, Donald retired and Greg, his son, became president at the age of 26. Greg is a graduate of Lehigh University and worked for Somerville Lumber prior to returning to the family business in 1992. Since 1992, Greg has expanded the company several times:
• 1995 – Startup of Grand Rental Station, Blairstown, N.J.
• 1998 – Purchase of Williams and Hibler, Hackettstown, N.J.
• 2005 – Second Grand Rental Station started, Hackettstown N.J.
• 2008 – Purchase of Wicks/Bradco lumberyard, Kenvil, N.J.
• 2010 – Purchase of Wicks/Bradco Kitchen and Bath
"Regardless of our company’s growth, Blue Ridge Lumber maintains its commitment to customer service above everything else," Greg Ackerson said.
Today Blue Ridge Lumber has six locations: three lumberyards, one Kitchen & Bath Design Center and two Grand Rental Stations.