World News: 12:30 GMT Wednesday 14th August 2019. [Universal Forest Products, Inc. via Globe Newswire via SPi World News]
GRAND RAPIDS, Mich., Aug. 14, 2019 (GLOBE NEWSWIRE) -- Universal Forest Products, Inc. (NASDAQ: UFPI) today announced that one of its affiliates has acquired the operating assets of Northwest Painting, Inc. and its affiliates, doing business as Northwest Factory Finishes in Bonner, Montana, and as Pacific Northwest Factory Finishes in White City, Oregon. The move will expand Universal’s capacity to produce value-added siding and trim for customers in its Northwest and Mountain West regions.
Founded in 1992 in Missoula, Montana, by Britt Fred, Northwest Painting is a leading supplier of pre-painted building materials, including composite lap siding, soffit, panels and trim, to the Western U.S. The company has manufacturing facilities in Bonner and White City, and anticipated annual sales of about $14 million. Fred, owner and president of Northwest, will remain with the company as president of Northwest.
“The addition of Northwest further expands our value-added product offerings and allows us to leverage their expertise to other Universal facilities that are involved in pre-finishing,” said CEO Matthew J. Missad. “We’re fortunate to have Britt and his team join the Universal family of companies. They have built Northwest into a fast-growing company and a respected leader in its markets.”
“We are excited about the many opportunities Universal Forest Products offers Northwest,” said Fred. “Universal’s size, strength and expertise will allow us to reach new markets, grow our business and provide employees with greater career opportunities. It is truly an extraordinary time to be at Northwest and part of the Universal family.”
Universal Forest Products, Inc. is a holding company whose subsidiaries supply wood, wood composite and other products to three robust markets: retail, construction and industrial. Founded in 1955, the Company is headquartered in Grand Rapids, Mich., with affiliates throughout North America, Europe, Asia and Australia. For more about Universal Forest Products, go to www.ufpi.com.
Brandon FroyslandDirector of Finance(616) 365-1589
Globe Newswire: 12:30 GMT Wednesday 14th August 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.