CertainTeed, Bailey Metal Products to form grid joint venture
Valley Forge, Pa.-based CertainTeed will form a joint venture with Bailey Metal Products (BMP) of Concord, Ont., to manufacture suspended ceiling grid in Canada and the United States.
“Our customers want to work with a company that provides innovative, unique and comprehensive ceilings solutions to their construction challenges,” said Graham Thayer, VP and general manager for CertainTeed Ceilings. “That means the total package of high quality ceiling tiles, grid systems and the technical expertise to support their needs.”
In the short term, grid products in Canada will continue to be sold under both the Bailey and CertainTeed brands, with a gradual transition for all grid products to the CertainTeed brand.
“This joint venture will literally open the door for CertainTeed, giving us broad capacity for growth throughout Canada and the United States,” Thayer said. “CertainTeed and Bailey represent the perfect marriage of technical expertise and production capacity to allow CertainTeed to provide an unrivaled combination of ceilings products to the industry.”
Bailey Metal Products is a lightweight steel framing manufacturer and a provider of drywall trims and accessories. The company currently offers Canada’s largest product portfolio, which includes steel framing, drywall trims and accessories, ceiling grid, Comslab composite floor system and vinyl and paper-faced metal bead.
Sales, income jump at Jewett-Cameron
Jewett-Cameron Trading Co. reported first-quarter 2013 sales of $9.30 million, compared with sales of $7.24 million for the first quarter of fiscal 2012.
Net income for the distributor for the quarter, which ended Nov. 30, 2012, was $480,746, compared with net income of $64,033 a year ago.
"The increase in sales for the quarter was due to successful sales efforts to increase market share of our existing products, as well as our recent introduction of new pet containment products," said CEO Don Boone.
As of Nov. 30, the company’s cash position was $7.26 million, and currently there is no borrowing against its $5.0 million line of credit.
Jewett-Cameron Trading Co. is a holding company that operates through subsidiary companies. Jewett-Cameron Lumber Corp. is a wholesaler of wood products and a manufacturer and distributor of specialty metal products, sold principally to home centers and other retailers. Greenwood Products is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries. MSI-PRO is an importer and distributor of pneumatic air tools, industrial clamps, and the Avenger Products line of sawblades and other products. Jewett-Cameron Seed Co. is a processor and distributor of agricultural seeds.
H&H to join Lyman Lumber Co.
US LBM Holdings has acquired H & H Lumber Co. of Superior, Wis., which will become part of the Lyman Lumber Co.
H&H serves the northern Wisconsin and greater Duluth, Minn., markets, providing home builders, specialty contractors and professional remodelers with a full-suite of building materials and services. The company joins Lyman Lumber Co., a US LBM division that is one of the largest building material suppliers in Minnesota and Wisconsin.
"H&H`s excellent reputation and leading presence in its market made it an attractive fit for Lyman," said Dale Carlson, president of Lyman Lumber Co. "We are excited to partner with the H&H team, customers and vendors as we continue to grow as the leading supplier in Wisconsin and Minnesota."
US LBM bought H&H from from second-generation owner, Tim Heytens. The transaction was effective Dec. 28.
Tim Heytens said: "Since my father founded the business in 1969, H&H has dedicated itself to serving the construction communities of Superior and Duluth with high quality materials and first-class service. Partnering with US LBM and Lyman brings the added resources ensuring that our customers receive the same quality and service that they have grown to expect and deserve."
US LBM is a collection of building material distributors serving the Midwest, Northeast and Mid-Atlantic in eight states with more than 40 locations. US LBM is owned by private equity firm BlackEagle Partners.