Wyoming officials meet in secret to discuss Menards store
A group of city and council officials met without public notice to discuss a possible $5.3 million land sale to Menards, according to an article in the Wyoming Tribune Eagle.
The Aug. 19 meeting between members of the Laramie County Commissioner; the county’s lawyer; the mayor of Cheyenne, Wyo.; and the assistant city attorney was held to determine whether the county owned a stake in a parcel of land that is being considered for a Menards home improvement store.
The meeting, scheduled the day before, was discovered when a newspaper reporter walked into the room by chance. No action was taken at the meeting.
Under Wyoming’s open meetings law, each item of public business to be discussed must be noticed to the public beforehand.
Sales increase 20% at American Woodmark
In its first quarter ended July 31, the Winchester, Va.-based company pointed to growth in both its remodel and new construction business.
The company’s net sales increased 20% to $131.2 million in the quarter. However, it still posted a net loss of $2.7 million. In the first quarter last year, American Woodmark’s net loss was $3.4 million.
Gross profit for the first quarter of fiscal year 2012 was 14.0% of net sales, compared with 13.2% in the first quarter of the prior fiscal year.
The company said the improvement in gross profit margin reflected the impact of increased sales volume on direct labor and manufacturing overhead costs. Those benefits were offset, however, by higher sales promotional expenses and higher materials and fuel costs.
3M purchases composite maker
Building products giant 3M has agreed to purchase Nida-Core Corp., a Florida manufacturer that makes composite building materials, according to an article in the Minneapolis St. Paul Business Journal.
Nida Core also has a small French affiliate, Structiso, that 3M also is acquiring. Its products, which are used to build boats and snowboards, will help 3M build its composite and engineered materials product portfolio, according to the newspaper.