Tri Pointe and Weyerhaeuser strike a $2.7 billion deal
Tri Pointe Homes, Inc. is merging with Weyerhaeuser Co.’s homebuilding business in a deal worth $2.7 billion, pending approval from Tri Pointe shareholders.
Weyerhaeuser Real Estate Co. will become a Tri Pointe subsidiary, with 80.5% ownership of the combined company to be distributed to Weyerhaeuser’s shareholders. Pre-transaction Tri Pointe shareholders will own the remaining 19.5%.
The transaction doesn’t include all Weyerhaeuser Real Estate assets, however; those remaining will be kept by Weyerhaeuser.
The deal is expected to close by the end of the second quarter next year.
Cemex doles out global Building Awards
Cemex has recognized the winners of this year’s Cemex Building Awards, choosing from amongst 545 domestic buildings and 185 constructed in Colombia, Costa Rica, Croatia, Guatemala, Spain, Mexico, Nicaragua, Panama, Poland, Puerto Rico and the Dominican Republic.
The winners were selected by a jury of 17 specialists from seven countries, using a number of criteria related to conceptual, technical and aesthetic qualities.
The international winner in the Housing category was Huixquilucan, Mexico-based CAP. The award in the Institutional-Industrial category went to Roberto Garza Sada Center for Arts, Architecture and Design, and Malaga, Spain-based El Palmeral de Las Sorpresas, Port Integration in Malaga City took home the accolades in the Infrastructure and Urbanism category.
For the complete list of winners, including special prizes and Mexico-specific awards, click here.
The Cemex Building Awards have been recognizing standout buildings for 22 years.
Masonite adds to executive team
Masonite International Corporation has hired Mike Nelson as VP and business leader of Masonite Architectural Door Systems, as well as Tony Hair as VP and business leader, Residential Door Business.
In his newly created role, Nelson will oversee financial performance, strategic planning, customer support, sales, marketing, branding and product strategy for the segment, which was developed after a series of strategic acquisitions boosted Masonite’s commercial and architectural doors portfolio.
Nelson has 21 years of experience in sales, marketing and general management for companies such as 3M Corporation, Mead Westvaco and Wausau Paper, where he worked previous to his role with Masonite. He will report to Larry Repar, EVP and COO of Masonite.
Meanwhile, Hair will be serving in a parallel capacity with Masonite’s North American residential door business, reporting also to Larry Repar.
Hair’s resume includes over 20 years of experience in R&D, engineering, supply chain, marketing and general management with Newell Rubbermaid and Maytag. In his previous role, he was SVP and general manager for Newell’s Decor Business, before which he served as president of the global Hardware Business Unit. He also spent 15 years at Maytag in eight distinct roles, including VP of sales strategy.