Builders FirstSource, the nation’s largest pro dealer with roughly 560 locations in 42 states, has announced it has acquired Trussway, a provider of prefabricated roof and floor trusses, as well as other value-added building components and services, including for the multifamily sector.
Wood Markets News
Two More US Freight Railroad Unions Reach Tentative Agreements; 7 Remain at Bargaining Table
On Friday, two more railroad unions announced that they had reached a tentative labor agreement with the US freight railroads. So far, 5 out of the 12 US freight railroad unions have reached a tentative agreement.
Western Forest Products Inc. Completes Acquisition of Calvert Company
Western Forest Products Inc. reported on Wednesday that its wholly owned subsidiary, WFP Engineered Products LLC, had completed the acquisition of certain assets of Washington-based Calvert Company Inc.
Oregon Mass Timber Coalition Receives $41.4 Million in Funding From “Build Back Better Regional Challenge”
With $41.4 million in funding from the federal “Build Back Better Regional Challenge” coming to the Oregon Mass Timber Coalition, a group of university researchers and state agencies in Oregon are seeing the potential of mass timber to help bridge the urban-rural divide.
Blackstone Inc.’s Home Partners of America Division Stopping Home Purchases in Half of Its Markets
In another sign that competition in US real estate markets is cooling, Blackstone Inc. announced that its Home Partners of America Division, the single-family landlord, was ceasing the purchase of homes in nearly half of the 80 markets where it currently operates.
Russia Proposes Limitations on the Import of Furniture From “Unfriendly Countries”
Izvestia is reporting that the Association of Enterprises of the Furniture and Woodworking Industry of Russia has proposed that the Ministry of Industry and Trade introduce protective duties on the import of furniture, raw materials, or components for its manufacturing from “unfriendly countries.”
US National Interagency Fire Center Wildfire Update for September 6, 2022: Preparedness Level Raised to 4
The US National Interagency Fire Center reported on Tuesday that the total number of large wildfires and complexes currently burning in the US has increased to 69, with more than 475,766 acres across 8 different states currently burning. Two new fires were reported.
BC Wildfire Season Well Below Average in 2022, but a Dry September Could Change That
BC Forests Minister Katrine Conroy is reporting that it has been a below-average wildfire season in the province “so far” this year. Conroy noted that 93% of this season’s wildfires have been extinguished or are under control. However, high fire risks are forecast for September.
Brazilian Exports of Wood-Based Products Declined Year-Over-Year in July 2022
According to the International Tropical Timber Organization (ITTO), in July 2022 Brazilian exports of wood-based products (except pulp and paper) declined in value when compared to 2021, falling from US$465.6 million in July 2021 to US$430.8 million in July 2022.
Construction Sector Employment Continued to Grow in August
A closer look at the Bureau of Labor Statistics’ (BLS) August nonfarm payroll employment report shows both residential and non-residential construction industry employment totaled 7.7 million in August, exceeding its February 2020 level. In August, construction employment grew by 16,000 jobs.