Content about Universal Forest Products Inc.

November 25, 2014

A subsidiary of Universal Forest Products, Inc. has acquired an 80% interest in certain assets of Packnet, Ltd., an industrial packaging and services supplier headquartered in Eagan, Minnesota.

The deal includes the option to purchase the remaining 20% of interest in three years. Packnet owner and CEO Mike Nyberg will remain in place at the head of the operation.

November 14, 2014

UFP Western Division, a subsidiary of Universal Forest Products, Inc. has completed its acquisition of certain assets of Bigs Packaging and Lumber, LLC, an industrial wood and packaging solutions supplier.

Dallas, Texas-based Bigs was founded in 2011 and is already at an annual sales pace of $50 million. 

October 16, 2014

Universal Forest Products had a fairly solid growth quarter in the third quarter, with sizeable gains in both earnings and sales.

Net sales were up in all three of its markets to a total of $713.5 million, up 9.5% over last year's third quarter.

Net earnings were up 36.5% to $20.5 million for the three-month period.

July 17, 2014

A more stable lumber market boosted the second-quarter performance of Universal Forest Products, even as the company was forced to pay higher duties for Chinese nails. 

Universal reported second-quarter net earnings of $21.8 million, up 38.1% over net earnings of $15.8 million for the second quarter of 2013. Net sales were $773 million, up 4.6% from $738 million in the same quarter last year.

April 17, 2014

Universal Forest Products, Inc. announced its first-quarter 2014 results Wednesday, which showed marked improvement in bottom-line earnings but relatively stagnant revenues.

Net sales for the quarter came in at $554.0 million, barely changed since last year's $554.5 million. Net earnings for the peiod came in at $7.2 million, which is up 38% year-over-year.

April 1, 2014

A subsidiary of Universal Forest Products has purchased a 50% ownership interest in Upshur Forest Products, which owns sawmill operations in Gilmer, Texas.

According to a statement released by UFPI Monday, the acquisition will help expand the company's footprint in East Texas and western Louisiana, supplying raw material to nearby UFPI affiliates and to new industrial operations that will be established at one of the mill locations.

February 13, 2014

Universal Forest Products, Inc. made a strong comeback in the fourth quarter of 2013, with net sales and earnings up considerably across the board.

Fourth-quarter net sales for the company were $525.7 million, up 11.7% year-over-year. Net sales for the year were $2.5 billion, a 20.2% improvement.

Meanwhile, net earnings for the quarter swung to a profit of $8.0 million after a loss of $1.9 million in the fourth quarter of 2012. For the year, net earnings nearly doubled, with 2013's $43.1 million beating out 2012's $23.9 million.

January 16, 2014

A subsidiary of Universal Forest Products Inc. has agreed to purchase the assets of National Fiber, a Massachusetts-based producer of cellulose insulation.

With a strong presence in the Northeastern U.S., National Fiber distributes its Cel-Pak and Nu-Wool insulation, as well as installation machines, to professional cellulose installers in the region.

August 19, 2013

Universal Forest Products, Inc. has launched a new structural frame system through one of its affiliates that purports to lower costs and provide flexibility to architects and builders.

The Intact Structural Frame combines engineered wood and a full-height anchoring system that connects the roof to the foundation (versus traditional systems that connect the walls to the foundation). This "exoskeleton" is suitable for use in regions that experience heavy snow, wind or seismic activity.

July 3, 2011

Universal Forest Products Inc. (UFPI) has announced “cost reductions that will result in annualized savings of $10 million” due to weak sales during the first five months of 2011. The Grand Rapids, Mich. company did not specify where or when these cuts will take place; they do not include one-time charges related to reductions, however.