LBM Advantage hits Atlanta
The co-op’s fall conference includes discussing challenges and preparing for 2019.
LBM Advantage members, mills and manufacturers gathered in Atlanta, Ga. last week for the buying group’s Annual Fall Conference.
Holding the Fall Conference at this location accommodated additional members from LBM Advantage’s emerging Southern and Western regions, the company said.
A NextGen meeting took place Georgia-Pacific’s corporate headquarters and benefitted members of a new leadership program, LBM Advantage said. Attendees learned the life cycle of OSB, from timber harvest to shipment.
At the conference, held at the Omni Atlanta Hotel, discussions included a rollercoaster year of challenges including trucking shortages and record level pricing.
Several seminars were offered, including an overview of Rayonier Advanced Materials from CEO Paul Boynton, as well as a mill perspective on the shift to Southern yellow pine by more Northern markets, and the impact of the political climate on the industry. Specialized user group meetings were also held.
New members to the co-op, whether through merger or new signing, learned more about their cooperative and took advantage of everything the Fall Conference had to offer, according to LBM Advantage.
The main thrust of the Fall Conference is to provide a foundation for members to plan their next year’s purchasing strategy in conjunction with their traders and preferred mills, the co-op said. Contracts and commitments are at the forefront. New this year was the inclusion of select building products manufacturers which allowed dealers to plan for 2019 across multiple product categories.
LBM Advantage is a member-owned forest products and building materials cooperative with locations in in New Windsor, N.Y., Grand Rapids, Mich., Smithfield, N.C., and Monroe, La.
Siding sales help boost LP Q3
Despite a falloff in OSB sales, LP overall sales up 3%.
For the third quarter of 2018, Louisiana-Pacific Corporation (LP) reported net sales of $737 million, up 3% from net sales of $718 million in the third quarter of 2017.
The Nashville, Tenn.-based wood and building products manufacturer also reported a net income of $124 million for the third quarter, up 13% from a net income of $109.8 million during the same period a year ago.
“Against a backdrop of OSB headwinds, our results continue to validate our strategy to transform LP into a leading building solutions company and also show the strength in our value-add and specialty products, including LP SmartSide siding and trim,” said Brad Southern, LP CEO.
LP’s siding segment net sales rose nearly 7% to $241 million the quarter but OSB sales fell nearly 6% to $349 million during the period. Engineered wood product sales grew 7% to $105 million in the quarter.
“Looking forward, while we are encouraged by the overall fundamentals in housing, we have experienced pricing declines in OSB associated with some recent supply and demand imbalances,” Southern said.
Masonite acquires Bridgewater Wholesalers
Masonite has been BWI’s primary supplier of door system components.
Masonite International Corporation said it has completed the acquisition of the operating assets of Bridgewater Wholesalers Inc. (BWI).
Based in Branchburg, N.J., BWI is a leading fabricator and distributor of door systems and related components supporting customers in the Mid-Atlantic and Northeastern United States. The company’s product offerings include both residential interior and exterior doors as well as value added pre-finishing services.
BWI employs about 350 people across five facilities in Pennsylvania, New Jersey, New York, and Massachusetts.
Masonite, based in Tampa, Fla., has been BWI’s primary supplier of door system components.
BWI would have added approximately $55 million of incremental net sales to Masonite’s North America residential segment for the 12 months ended September 2018, after adjusting for inter-company transactions.
The purchase price of BWI was $23 million and is subject to customary post-closing adjustments, Masonite said.
“BWI has been an integral partner to Masonite for over 3 decades, providing outstanding service to their customers,” said Tony Hair, president of Masonite’s global residential business. “The combination of Masonite doors and BWI’s expertise with value added services provides continued access to the products and services that builders and dealers know and trust.”
The acquisition marks Masonite’s 10th acquisition in the last five years. Masonite designs and manufactures interior and exterior doors for multiple remodeling and construction markets.