Wolseley will build “Sustainable Building Center”
Wolseley, the United Kingdom-based parent of Stock Building Supply, will build an interactive showcase for sustainable building materials near its headquarters in Leamington Spa, England.
Called the “SBC,” the center is meant to serve as a “focal point for Wolseley’s sustainable products strategy,” the company said.
The project will bring together numerous energy-efficient and recycled products available across Wolseley’s brands. Sustainable products will be incorporated in all elements of the building, including walls, windows, lighting and landscaping.
All of the sustainable materials used in the construction of the building, as well as those to be displayed inside, will be commercially available through Wolseley’s dealers. The Wolseley Web site also will offer updates on the project while it’s underway.
Wolseley had 2006 sales of more than $25 billion. Raleigh, N.C.-based Stock Building Supply now operates 321 locations in 34 states, with reported sales of $5.3 billion in 2006.
Housing starts inch up in California
California builders pulled permits for 7,164 single-family homes in May, a 2.5 percent decrease from April, according to the Construction Industry Research Board. But in the multi-family housing market, the number of starts totaled 3,574, a 14 percent rise over April.
The net gain was a 2 percent overall rise in residential building activity.
Yearly comparisons were still grim, with single-family housing permits in May dropping 40 percent compared to May 2006. Permits for condos and apartments were down 29 percent in May 2007 compared to the previous year.
Home Depot will issue sales view update next week
In light of the sale of HD Supply, Home Depot will offer a revised view of its sales outlook for the year.
On July 10, the company will hold a conference call from 9 a.m. to 10:30 a.m. to update its fiscal 2007 sales and earnings guidance. A webcast of the update will be available on the company’s investor relations Web site.
Home Depot announced the sale of its HD Supply division for $10.3 billion on June 21. The new owners of Home Depot’s pro-oriented division are Bain Capital Partners, the Carlyle Group and Clayton Dubilier & Rice.
Joe DeAngelo, the CEO of HD Supply, will stay with the business, and the deal is expected to close in the third fiscal quarter. HD Supply has made a short-term transaction services agreement with its new owners to help with the transition.
At least one HD Supply subsidiary, Crown Bolt, will remain as a long-term supplier to Home Depot, company officials said, referencing a seven-year contract.