News

Wolf acquires DC, expands distribution

BY HBSDEALER Staff

Wolf Organization, a York, Pa.-based distributor of cabinets, decking, trim and other building materials, has announced its plans to expand its territory into Georgia, Florida, western South Carolina, eastern Alabama and eastern Tennessee through the addition of a 100,000-sq.-ft. distribution facility in the Atlanta area. The leased warehouse will carry composite decking, railing and trim, and also serve as a cross-docking facility for cabinets, according to chief marketing officer Jim Groff.

Wolf’s expansion plans also include a wider breadth of products in the New England states. “We’ve been supplying the Northeast with kitchen and bath [cabinets] for 15 years,” Groff told Home Channel News. “The new foray is to extend our reach by selling building products to the same dealers.” Wolf will add PVC and composite decking and railing to its Allentown, Pa., warehouse, Groff said, along with other new SKUs, making them available to “[our customers] north of New York State.”

Wolf sold its retail chain of LBM outlets, called The Lumber Yard, in 2008. The company now focuses on two-step distribution, as well as operating a marketing firm called Baublitz Advertising.

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KB offers Disney room to new home buyers

BY HBSDEALER Staff

KB Home has announced a special incentive to home buyers who sign a purchase agreement from Sept. 26 to 27: a Disney Dream Room.

The offer is limited to home buyers who finance with KB Home Mortgage, an operating subsidiary of Bank of America. Those who qualify will receive a choice of four Disney-themed children’s bedroom designs; Pooh Corner, Cars Revved-Up Room, Princess Palace or Hannah Montana Hangout, all available exclusively through KB Home.

The company said that the Disney-inspired design elements include an exclusive carpet, window treatments, lighting fixtures, closet doors, chair rails and other decorative touches such as Disney-themed paint colors, wall graphics and stenciling, as well as a matching bedding set.

KB Home will also be handing out free Disney plush toys to shoppers who stop by any of the KB Home communities during the dates.

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AERT receives extension from Nasdaq

BY HBSDEALER Staff

Advanced Environmental Recycling Technologies (AERT), a plastics recycler and manufacturer of composite decking and railings, has been granted a 180-day extension by Nasdaq to come into compliance with the stock exchange’s listing requirements.

The Springdale, Ark.-based company, which manufactures Weyerhaeuser’s ChoiceDek product, does not currently comply with a rule requiring a minimum of $2,500,000 in stockholders’ equity; or $35,000,000 market value of listed securities; or $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years.

AERT also previously reported a deficiency for the minimum $1 bid price. The company needs to achieve a closing bid price of $1 or above for a minimum of 10 consecutive trading days by Oct. 2, 2009. The company’s shareholders have already authorized management to implement an up to 20-to-1 reverse stock split, if necessary, to regain compliance.

The company has until Dec. 23, 2009, to regain full compliance in regard to the minimum equity or net income rules.

AERT’s composite decking, made from recycled plastic and wood fibers, is sold at Lowe’s under the Weyerhaeuser ChoiceDek brand.

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