A robust COVID-19 operational plan focused on the health and safety of employees, contractors and the wider community has been vetted and reviewed with provincial officials. The $20 million maintenance shutdown at Irving Tissue and Irving Pulp & Paper will proceed beginning Sunday May 30. The mills are scheduled for maintenance every 12 to 18 […]
NAHB: Commerce Secretary Pledges Full Support of Biden Administration to Resolve Lumber Issue
Commerce Secretary Gina Raimondo acknowledged the depth of the lumber price crisis and its effects on the residential construction industry, home buyers and renters during a meeting today with the NAHB senior officer team. “The residential construction industry is facing serious challenges because of supply chain constraints and the impact on home building, especially with […]
Interfor Continues to Grow with Acquisition of Four US Sawmills from Georgia-Pacific
Interfor Corporation (“Interfor” or the “Company”) announced that it has reached an agreement with Georgia-Pacific Wood Products LLC and GP Wood Products LLC (collectively “Georgia-Pacific”) to acquire four of its sawmill operations located in Bay Springs, MS, Fayette, AL, DeQuincy, LA and Philomath, OR (collectively the “Sawmill Operations”). The total purchase price of US$375 MM, […]
Tempur Sealy Provides Update On Improved Sales Trends
Tempur Sealy International, Inc. (“Tempur Sealy” or the “Company”) provided an update on its targeted second quarter sales performance. Quarter-to-date orders have accelerated since the Company’s first quarter earnings call, and it now targets total second quarter net sales growth of approximately 60% as compared to the second quarter of 2019. The second quarter of 2019 […]
Weston Forest is a Recipient of the 2021 Canadian Business Excellence Awards for Private Businesses
Steve Rhone, President and CEO of Weston Forest, is excited to announce that the company is once again a recipient of the Canadian Business Excellence Awards for Private Businesses. This is the fourth consecutive year that Weston Forest has won this prestigious honour. From the official awards press release: “Excellence Canada is pleased to announce […]
NAR: Pending Home Sales Drop 4.4% in April
Pending home sales took a step backward in April, according to the National Association of Realtors®. All four U.S. regions recorded year-over-year increases, but only the Midwest witnessed month-over-month gains in terms of pending home sales contract transactions. Key Highlights – Pending home sales decreased 4.4% in April from the prior month, in part due […]
Freddie Mac: Mortgage Rates Drop Below Three Percent in May 27th Report
Freddie Mac released the results of its Primary Mortgage Market Survey® (“PMMS”®), showing that the 30-year fixed-rate mortgage (“FRM”) averaged 2.95 percent. “Mortgage rates are down below three percent, continuing to offer many homeowners the potential to refinance and increase their monthly cash flow,” said Sam Khater, Freddie Mac’s Chief Economist. “In fact, homeowners who […]
Canadian Pacific Comments on Inadequate Commitment from Canadian National to Divest KCS Line Between New Orleans and Baton Rouge
Canadian Pacific Railway Limited issued the following statement in response to Canadian National’s (“CN”) commitment to divest Kansas City Southern’s (“KCS”) line between New Orleans and Baton Rouge: CN’s commitment to divest this 70-mile line is clear recognition by CN that it and KCS have always been head-to-head competitors, contrary to CN’s repeated claims that […]
Tempur Sealy To Acquire Dreams, UK’s Leading Specialty Bed Retailer
Tempur Sealy International, Inc. (“Tempur Sealy” or the “Company”) announced it has executed an agreement to acquire Dreams, the leading specialty bed retailer in the United Kingdom, primarily from an affiliate of Sun Capital Partners, Inc. The transaction will accelerate Tempur Sealy’s growth in the largest European bedding market and sixth largest economy in the […]
American Woodmark Corporation Announces Fourth Quarter Results and Authorization of a $100 Million Stock Buyback Program
American Woodmark Corporation (the “Company”) today announced results for its fourth fiscal quarter ended April 30, 2021. Net sales for the fourth fiscal quarter increased $74.2 million, or 18.6%, to $473.4 million compared with the same quarter of the prior fiscal year. The Company experienced double-digit growth across all channels (repair and remodel and new […]