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Itochu deals for forest products company

BY HBSDealer Staff

Itochu Corp., the Tokyo-based general trading company that previously owned PrimeSource Building Products, entered a deal to acquire a forest products company.

Itochu Corp. and Itochu International agreed with E.R. Probyn, a Canadian corporation and Welco Lumber Company in the U.S. to acquire Alta Forest Products from Probyn and Welco.

Alta is described in the announcement as the largest wood fence board manufacturer in North America, producing 360 million board feet annually in its four (4) manufacturing plants located in the Pacific Northwest of the United States. Alta has established a leading position in the market for Western Red Cedar fence boards, a premium product, through – in the words of the announcement – “outstanding production efficiency driven by its specialized manufacturing process.”

Itochu Group is no stranger to the North American fence distribution industry through Itochu International’s ownership of Master-Halco, which operates five chain-link-fence manufacturing plants and 53 distribution centers in North America.

Through this acquisition, Itochu says it intends to strengthen its fencing business in North America further, capitalizing on the expected synergies between Alta’s leading wood fencing supply position and Master-Halco’s leading sales and distribution network.

Itochu sold PrimeSource in 2015.

 

 

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HBSDealer Stock Watch: Tuesday’s mixed results

BY HBSDEALER Staff

Gainers led decliners, but just barely, on Tuesday. Leading the charge into positive territory was CENT, up 7.24%. HBP gained 2.3%. Also on the Stock Watch,  LL declined 1.6%.

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New NAHB program targets safety

BY HBSDealer Staff

Safety is even more of a priority for the National Association of Home Builders in 2018.

The association has introduced Safety 365, a new member and public awareness campaign designed to ensure that industry pros have the information and resources to help keep construction workers safe while minimizing accidents, injuries and deaths.

The initiative is designed “to make construction safety a priority, every day, 365 days a year,” the NAHB said in a press release.

“Our members realize the importance of jobsite safety because we know that our employees have families to return home to. We want to keep these workers safe from accidents and injuries,” said NAHB chairman Randy Noel, a home builder and developer from LaPlace, La. “Safety 365 is an important initiative that will keep these efforts at the forefront of our industry.”

The campaign is a joint effort of the NAHB Construction Safety Committee and Builders Mutual Insurance Co., which has supported NAHB’s workplace safety efforts since it worked with the association in 2006 to launch the SAFE awards, an NAHB program that honors workplace safety efforts and highlights innovative products and solutions.

Through posts on the association’s blog, newsletter stories, and tweets among other efforts, the Safety 365 campaign will highlight a different aspect of construction workplace safety each month and also promote safety off the job. The program also includes materials to help keep home owners safe when they’re working on DIY projects.

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