Grand Rapids, Michigan, USA 15 January 2015 -- Universal Forest Products, Inc. (NASDAQ: UFPI) today announced that one of its subsidiaries closed on the purchase of a majority interest in Integra Packaging Proprietary, Ltd., a manufacturer and distributor of integrated packaging products based in Brisbane, Australia.
Founded in 1995, Integra has two locations in Eastern Australia, where it manufactures wood specialty packaging. It also distributes packaging products and performs on-site packaging services for a number of industries. Integra also has exclusive distribution agreements for Australia with global packaging enterprises. The company expects sales of $12 million in 2015. The acquisition supports Universal's plan to grow internationally in markets and with multinational customers it serves in the US.
"Integra provides a strong opportunity for our foray into new international markets," said Universal Forest Products CEO Matthew J. Missad. "It has a track record of success and a commitment to providing solutions to its customers. It utilizes creativity that we can expand to our existing markets and, most importantly, it has a talented, hard-working team of people who are driven to grow and prosper."
"Under the stewardship of Dick Gauthier, our vice president of International Development, we expect big things from partnering up with Integra," Missad added.
Added Roger Till, managing director for Integra: "Being part of the Universal family of companies provides a great opportunity for Integra to expand in Australia and beyond. We are eager to help Universal achieve its international growth goals and to be part of its success."
UNIVERSAL FOREST PRODUCTS, INC. (NASDAQ: UFPI)
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 building materials retailers and wholesalers, structural lumber and other products for the manufactured housing and residential construction markets, and specialty wood packaging and components and packing materials for various industries. It has subsidiaries that provide framing services for the residential construction market in some parts of the country; that manufacture and market products used for concrete construction; and that offer lawn and garden products, such as trellises and arches, to retailers nationwide. Its consumer products operations offer a large portfolio of outdoor living products, including wood composite decking, decorative balusters, post caps and plastic lattice. Founded in 1955, Universal Forest Products is headquartered in Grand Rapids, Mich. Its subsidiaries operate facilities throughout North America. For more about Universal, go to www.ufpi.com.
Please be aware that: Any statements included in this press release that are not historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are based on the beliefs of the Company's management as well as on assumptions made by, and information currently available to, the Company at the time such statements were made. 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: adverse lumber market trends, competitive activity, negative economic trends, government regulations and weather. Certain of these 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.