Zeeland Lumber Holdings launches expansion
Zeeland Lumber Holdings acquired the former North Pacific distribution facility near M-6 and US-131 in the city of Wyoming, Mich.
The move will allow the Zeeland, Mich.-based pro dealer to move its Hamilton Truss operation to double its production while expanding into new areas, the company announced. The Hamilton Truss division will be moving to the new location at 5836 Clay Ave, Wyoming, Mich. Other areas of production will be floor trusses, wall panels and building components. The company said the move will add up to 40 jobs over the next three years to support the growth and expansion.
Hamilton Truss is a component manufacturing company serving residential and commercial construction. Its merger with Zeeland Lumber and Supply Co. in 2009 has allowed for growth in this market. Zeeland Lumber and Supply and Hamilton Truss are divisions of Zeeland Lumber Holdings.
Zeeland Lumber and Supply received the 2007 Home Channel News "Independent Pro Dealer of the Year" award. The company will continue to operate its Concepts Store in Hamilton.
Rona board adopts new corporate policies
Boucherville, Quebec-based RONA announced its Board of Directors has adopted a new policy designed to facilitate continuous improvement in its governance and compensation practices as well as enhanced communication with stakeholders.
In accordance with the new policy, RONA now publishes an overview of its governance and compensation policies on the Company’s website www.rona.ca/content/governance_investorrelations and will proactively communicate to stakeholders any significant changes.
“We adopted the new policy with the goal of continuously improving our governance and
compensation practices and meeting the expectations of RONA shareholders,” said Jean Gaulin, Chairman of the Board of Directors. “This pro-active approach reflects the Board’s commitment to maintaining high standards of corporate governance and transparency in line with evolving best practices."
Stakeholders will also be able to submit any recommendations or suggestions for improvements to RONA’s governance and compensation practices through the Corporate Secretary’s office.
BMC amends credit facility
BMC, the Boise, Idaho-based pro dealer, has announced an amendment to its senior secured credit facility with Wells Fargo Capital Finance, the company’s working capital lender. The new agreement lowers the rates and fees payable under the facility and increases the company’s borrowing capacity to the full $50 million amount available.
BMC has had no cash borrowings under the facility since it was put in place on Jan. 4, 2010, and anticipates none in the coming year.
In a prepared statement, Peter Alexander, the company’s CEO, said: “Provisions of the amendment will provide the company increased flexibility to make investments to profitably grow its business despite continued challenging market conditions.”
BMC serves 18 major markets in nine states with 76 business units and has nearly 4,000 employees.