Weyerhaeuser to close New Brunswick plant
Forest products giant Weyerhaeuser has announced it will permanently close its Miramichi, New Brunswick, oriented strand board plant permanently, effective June 6.
The facility has not operated since January 2007.
“We worked hard to sell the facility for more than one year,” said Craig Neeser, president of Weyerhaeuser’s Canadian operations. “A lack of buyer interest, the continuing poor state of the U.S. housing market and the high cost of maintaining this idled site led to the company’s decision to permanently close the facility.”
Weyerhaeuser will continue to “entertain serious offers” for the facility until June 6, 2008.
“Many parties worked in good faith for a different outcome, including local and provincial governments and Weyerhaeuser company representatives,” Neeser said. “It is unfortunate that these considerable efforts did not attract a viable new owner.”
Weyerhaeuser, one of the world’s largest forest products companies, is based in Federal Way, Wash.
BlueTarp, Orgill announce partnership
BlueTarp Financial and hardlines distributor Orgill have announced a partnership to provide credit and financial services to independent hardware and home improvement retailers.
Denise Sullivan, Orgill’s retail programs manager, said the additional financial services are meant to help strengthen relationships between retailers and contractors.
“Retailers will be able to offer more credit to contractors while increasing their cash flow. BlueTarp takes over the backroom duties plus provides contractors with a 24/7 online tracking system and the ability to earn rewards for purchases,” she explained.
BlueTarp Financial, based in Charlotte, N.C., offers commercial trade credit services to more than 1,500 building material dealers and over 30,000 contractors across the United States and Canada. Memphis, Tenn.-based Orgill serves more than 5,000 customers worldwide.
Stanley Q1 sales and earnings up
New Britain, Conn.-based Stanley Works reported first-quarter net earnings of $68 million, up 0.6 percent from $67.6 million last year. Net sales were $1.09 billion, up 3.3 percent from $1.06 billion last year.
John Lundgren, chairman and CEO of Stanley Works, noted the company’s consumer DIY sales were flat, but the company’s industrial segment saw growth.
“Our Engineered Solutions business was strong, and of course we were helped by foreign exchange,” he said. A stronger performance outside the United States, particularly in Europe, helped offset some of the sales declines as well, he added.
The company saw flat revenues in consumer tools and storage, as well as in the company’s Bostitch business.
“The U.S continues to be adversely impacted by the residential construction market. That of course affects consumer tools and storage as well as Bostitch,” Lundgren added. “In North America those businesses were both down low single digits in terms of revenue.”