Mark Ushpol has been appointed Executive Vice President of the Food Packaging & Technical Solutions business area and a member of the Group Executive Management team as of January 1, 2022. Mark has more than twenty years of experience in the paper and packaging industry and was most recently managing director for DS Smith North […]
Koppers Recognized Among America’s Most Responsible Companies by Newsweek
Koppers Holdings, Inc. (“Koppers”), an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds, has been named as one of America’s Most Responsible Companies for 2022 by Newsweek magazine. This is the second consecutive year that Koppers has made the list from a pool of 2,000 of the largest U.S.-based public […]
Dorel Announces Agreement for Sale of its Remaining China Manufacturing Facility
Dorel Industries Inc. (“Dorel”) announced that it has entered into a definitive agreement to sell its remaining juvenile products manufacturing facility in Huangshi, China to Ningbo Xihe Children Products Co, Ltd. for gross proceeds of approximately US$4 million. This sale follows the March 2021 disposition by Dorel of its Zhongshan based manufacturing facility and is […]
LL Flooring to Complete Corporate Name Change
Lumber Liquidators Holdings, Inc. (“LL Flooring”), a leading specialty retailer of hard-surface flooring in the U.S., today announced that it expects to complete its corporate entity name change to LL Flooring Holdings, Inc. effective January 1, 2022, upon satisfying all applicable legal and regulatory requirements. The Company’s stock will continue to be listed on the […]
Canadian Pacific Welcomes KCS Stockholder Vote on Adopting Merger Agreement
Canadian Pacific Railway Limited (“CP”) welcomed the results of a vote by Kansas City Southern (“KCS”) stockholders in strong support of the proposed CP-KCS combination. “This week, shareholders of both CP and KCS overwhelmingly supported this transformative proposal to create the first U.S.-Mexico-Canada rail network,” said Keith Creel, CP President and Chief Executive Officer. “With […]
NAHB: 25% of New Single-Family Homes are Infills or Teardowns
According to the latest Annual Builder Practices Survey (“ABPS”), one in four new single-family detached homes were built in established neighborhoods in 2020. Homes built on infill lots constituted 18.6% of new homes, while homes built after tearing down an existing building constituted 6.4% of new homes. The lack of developable land is likely to boost […]
Your Building Centers to Acquire Allensville Planing Mill
It was announced that Allensville Planing Mill (“APM”) will be acquired by Your Building Centers (“YBC”). Rich Lender, President and CEO of YBC reported, “We are looking forward to working with Joe Westover, Rob Morris, and the APM team to assure a smooth transition over the next several months, closing is expected around the end […]
Freddie Mac: Mortgage Rates Show Little Movement in December 9th Report
Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.10 percent. “Mortgage rates have moved sideways over the last several weeks, fluctuating within a narrow range,” said Sam Khater, Freddie Mac’s Chief Economist. “Going forward, the path that rates take will be directly impacted by more information […]
Hooker Furnishings Reports Third Quarter Results
Hooker Furnishings Corporation reported consolidated net sales of $133.4 million for its fiscal 2022 third quarter ended October 31, 2021, a $16.3 million, or 11%, decrease compared to the prior year period. Consolidated operating loss for the fiscal 2022 third quarter was $1.7 million, compared to $13 million of operating income in the prior year […]
NAHB: Construction Job Openings Surge to Record High
The labor market continues to tighten, especially for the construction industry. The count of open construction jobs increased to 410,000 unfilled positions in October, the highest measure in the history of the Job Openings and Labor Turnover Survey data from the Bureau of Labor Statistics data series (going back to late 2000). The housing market remains underbuilt […]