A broad coalition of organizations representing the housing, financial services industries as well as public interest groups issued the following statement on the GSEs’ new adverse market fee: “Wednesday night’s surprise announcement by Fannie Mae and Freddie Mac (the GSEs) conflicts with the Administration’s recent executive actions urging federal agencies to take all measures within […]
Quanex Appoints John Sleva to Division President, North American Cabinet Components
Quanex Building Products announced the promotion of John Sleva to President of its North American Cabinet Components Division (“NACC”) based in Minnesota. Sleva most recently served as Vice President of Sales and Interim President of NACC, which includes the company’s Woodcraft Industries business unit. “John has been an integral part of the NACC team for […]
Freddie Mac: Mortgage Rates Move Up in August 13th Report
Freddie Mac released the results of its Primary Mortgage Market Survey® (“PMMS”®), showing that the 30-year fixed-rate mortgage (“FRM”) averaged 2.96 percent. “Homebuyer demand remains strong, especially for those in search of an entry-level home where the improvement in affordability via lower mortgage rates has a material impact,” said Sam Khater, Freddie Mac’s Chief Economist. […]
CHPVA Announces That the CTTT Has Made a Preliminary Injury Determination Against Decorative Plywood From China
The Canadian Hardwood Plywood and Veneer Association (“CHPVA”) is pleased to announce the Canadian International Trade Tribunal (“CITT”)’s positive preliminary injury determination concerning decorative and other non-structural plywood exported from China. For many years, China has sold large volumes of decorative plywood in Canada at very low prices. On April 21, 2020, the CHPVA, along […]
Commercial Metals Company Announces Plans to Build Its Third Micro Mill
Commercial Metals Company (“CMC”) announced it will build its third micro mill. The mill will be the first in the world to produce merchant bar quality (“MBQ”) products through a continuous-continuous production process. The new facility will replace higher cost rebar capacity and allow CMC to more efficiently meet West Coast demand for rebar and […]
US LBM Expands with New Universal Supply Newark Roofing and Siding Location
US LBM, a leading distributor of specialty building materials in the United States, announced today that Universal Supply has opened a new roofing and siding location in Newark, New Jersey. The location is US LBM’s seventh new roofing and siding focused greenfield since 2018. Universal Supply, a division of US LBM, has been providing customers […]
Do it Best Announces Record Member Rebates
After concluding their fiscal year-end, Do it Best Corp. announces record net profitability and record rebates for its member-owners. With total sales for the year at $3.6 billion, net profit was up 12.6% over the prior year and rebate reached $128.4 million. “In a year that threw unprecedented challenges at Do it Best and its […]
Beacon Appoints Samuel M. Guzman, Jr. as Vice President and Chief Accounting Officer
Beacon (the “Company”) announced that Samuel M. Guzman, Jr. was appointed its Vice President and Chief Accounting Officer, effective immediately. Mr. Guzman assumes leadership of Beacon’s accounting organization and will oversee all the Company’s accounting operations. Thomas D. Schmitz, who served as the Company’s Interim Chief Accounting Officer, will remain with the Company in a […]
Accsys Forms Accoya USA in Joint Venture with Eastman Chemical Company
Accsys Technologies PLC (“Accsys”, the “Group” or the “Company”), the fast-growing and eco-friendly company that combines chemistry and technology to create high performance, sustainable wood building products, and Eastman Chemical Company, world leader in the production of acetyls, have formed a joint venture company, Accoya USA LLC. The joint venture intends to construct and operate […]
Governor Northam Announces Musser Lumber Company to Expand Sawmill in Wythe County
Governor Ralph Northam announced that Musser Lumber Company, Inc. will expand current operations in Rural Retreat, creating 12 new jobs and investing $2.4 million in Wythe County. The family-owned company is adding new production and drying capacity for sawdust and wood shavings which it will source exclusively from Virginia sawmills. Over the next three years, […]