UFPI Closes on Purchase of Washington-Based Nepa Pallet and Container
Purchase expands industrial business; Company’s geographic reach
GRAND RAPIDS, Mich. -- November 06, 2012
Universal Forest Products, Inc. (Nasdaq: UFPI) announced the acquisition of
the operating assets of Nepa Pallet and Container Co., Inc., a manufacturer of
pallets, containers and bins for agricultural and industrial customers. The
purchase was completed on Monday, Nov. 5, 2012.
Nepa was purchased by Universal’s subsidiary, UFP Washington, LLC, and will do
business as Nepa Pallet and Container. The acquisition allows Universal to
expand its industrial business and gain a foothold in the Pacific Northwest,
two of the Company’s strategic goals. Nepa has facilities in Snohomish, Yakima
and Wenatchee, Wash., and had trailing twelve month sales through September
2012 of $25 million.
“We are pleased to add the operations and people of Nepa to the Universal
family of companies, and look forward to many years of growth and success in
this market,” said CEO Matthew J. Missad.
UNIVERSAL FOREST PRODUCTS, INC.
Universal Forest Products, Inc. is a holding company that provides capital,
management and administrative resources to subsidiaries that design,
manufacture and market wood and wood-alternative products for DIY/retail home
centers and other retailers, structural lumber and other products for the
manufactured housing industry, engineered wood components for the site-built
construction market, and specialty wood packaging and components and packing
materials for various industries. Universal’s subsidiaries also provide
framing services for the site-built market, and forming products for concrete
construction. The Company's consumer products subsidiary offers a large
portfolio of outdoor living products, including wood composite decking,
decorative balusters, post caps and plastic lattice. Its lawn and garden group
offers an array of products, such as trellises and arches, to retailers
nationwide. Founded in 1955, Universal Forest Products is headquartered in
Grand Rapids, Mich., with operations throughout North America. For more about
Universal Forest Products, go to www.ufpi.com.
This press release contains forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act, as amended, that are based on
management’s beliefs, assumptions, current expectations, estimates, and
projections about the markets we serve, the economy, and the company itself.
Words like “anticipates,” “believes,” “confident,” “estimates,” “expects,”
“forecasts,” “likely,” “plans,” “projects,” “should,” variations of such
words, and similar expressions identify such forward-looking statements. These
statements do not guarantee future performance and involve certain risks,
uncertainties and assumptions that are difficult to predict with regard to
timing, extent, likelihood and degree of occurrence. The Company does not
undertake to update forward-looking statements to reflect facts,
circumstances, assumptions or events that occur after the date the
forward-looking statements are made. Actual results could differ materially
from those included in such forward-looking statements. Investors are
cautioned that all forward-looking statements involve risks and uncertainty.
Among the factors that could cause actual results to differ materially from
forward-looking statements are the following: fluctuations in the price of
lumber; adverse or unusual weather conditions; adverse conditions in the
markets we serve; government regulations, particularly involving environmental
and safety regulations; and our ability to make successful business
acquisitions. Certain of these risk factors as well as other risk factors and
additional information are included in the Company's reports on Form 10-K and
10-Q on file with the Securities and Exchange Commission.
Universal Forest Products, Inc.
Lynn Afendoulis, (616) 365-1502
Director, Corporate Communications
Press spacebar to pause and continue. Press esc to stop.