The acquisition is intended to help grow Universal’s industrial business in East Texas and western Louisiana, supplying raw material to nearby Universal affiliates as well as to new industrial operations that will be set up at one of the mill locations. Sales in 2015 are estimated to be $10 million.
“Among our strategic goals is to grow our industrial business, and we’re doing that in a steady manner by adding to existing industrial operations and growing our presence in areas we haven’t been able to serve economically,” said Universal CEO Matthew J. Missad. “Our new strategic partnership with Upshur will allow us to add industrial manufacturing operations adjacent to the mill and serve customers in East Texas and western Louisiana at a substantial freight savings. In addition, we will lock in our supply of specialty mill items and certain hard-to-find dimensions and grades.”
Universal Forest Products, Inc. is a holding company that provides capital, management and administrative resources to subsidiaries that supply wood, wood composite and other products to three robust markets: retail, construction and industrial.
