Universal Forest Products, Inc. (UFPI) has completed the reorganization of its operations and is now operating as UFP Industries, a change announced in August 2019.
“We are not just a forest products or wood company anymore,” said CEO Matthew J. Missad. “Over the years, we have evolved from a lumber wholesaler to a mixed materials manufacturer and solutions provider serving thousands of business customers. Our new segments - UFP Retail, UFP Construction and UFP Industrial - will be much more focused on their individual markets, and with the leadership teams now in position, we expect more speed to market, better product and customer alignment and more efficient capital utilization.”
UFP Industries has approximately 170 locations and 14,000 employees around the world. Prior to the reorganization, UFP affiliates were organized by region; now they are organized by market.
The company will seek shareholder approval for the change to its corporate name at its next annual meeting of shareholders in April 2020 and will continue to trade on the NASDAQ exchange under the UFPI ticker symbol.
UFP Industries is a holding company whose subsidiaries supply wood, wood composite and other products to three robust markets: retail, construction and industrial.
