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Industry Roundup |
Lumber
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RBC highlights wood products news for week of Sept. 17: Lumber and OSB prices down week-over-week; North American softwood lumber production down 9.8% year-over-year in June, with US production down 6.0% and Canadian production down 16.9%
RBC Capital Markets LLC (09/21)
Popularity of mass timber is growing and GP believes the potential for mass timber and southern yellow pine is 'exponential', says company's president of lumber
CSRWire (09/21)
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Plywood
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Timber Products invests in Panel Repair System from Argos Solutions that will be installed at its plywood production facility in Grants Pass, Oregon, in April 2024
Argos Solutions AS (09/20)
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MDF, Particleboard & Non-Structural Panels
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Panel Plus Thailand acquires additional automated grading system from Argos Solutions; investment will elevate quality and efficiency of MDF production
Argos Solutions AS (09/20)
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Engineered Wood Products (EWP)
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BindEthics introduces new adhesive made from refined and purified industrial bio-waste; adhesive is designed to enable engineered wood products, including construction boards and furniture, to be circular and fully recyclable
Pitture e Vernici - European Coatings (CBNB Abstracts) (09/19)
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Gypsum Board / Wallboard
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Gypsum Assn. translates technical guide GA-214-2021 Levels of Finish for Gypsum Panel Products and its accompanying Quick Reference Guide into Spanish and French; association also offers free downloads through its website for the first time
Canada Newswire (09/21)
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Flooring
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Interface introduces new flooring collections featuring carbon-negative backing; Atlanta-based company restates commitment to reduce carbon footprint by increasing number of products with CQuestBioX backing in its European manufacturing
Business Wire (09/21)
Live Ventures subsidiary Marquis Industries acquires Harris Flooring brands from Q.E.P. for about US$10M, adding four major brands to its business: Harris, Kraus, Naturally Aged Flooring, and Heritage Mill Wood Flooring
Globe Newswire (09/21)
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Decking / Fencing
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Arkansas Recycling Coalition awards Trex and Keep Arkansas Beautiful for 'Recycling Education Program of the Year'; they partnered to educate Arkansas students about importance of responsible recycling through NexTrex Plastic Film Recycling Challenge
GlobeNewswire (09/19)
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Cement / Concrete
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CarbonBuilt produces cement-free concrete blocks with near-zero carbon, incorporating its CO2 sequestration technology; low-cost alternative will be produced at commercial volumes with partner Blair Block in Alabama from 2024
Globe Newswire (09/21)
New York becomes first US state to adopt mandatory rules establishing emissions limits on concrete used in state-funded public building and transportation projects
States News Service (09/20)
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Steel / Iron
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British Steel delays deliveries due to blast furnace issues and potential problems with imported coke; firm aims to reduce carbon footprint by shutting down coking ovens and importing coke
Industry Intelligence Inc. (09/21)
UK's Liberty Steel partners with China's CISDI Engineering and Hungarian Ministry of Economic Development to decarbonize Dunaferr Steelworks, using energy-efficient 150-ton electric arc furnace; project to reduce carbon emissions by 80%
Global Data Point (09/21)
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Wood Construction
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WoodSolutions, an industry initiative resourced by Forest & Wood Products Australia, has a new Head of Built Environment Programs & WoodSolutions Program; Kevin Peachey was previously F&WPA's statistics and economics manager
WoodSolutions (09/21)
Munich's first timber construction commercial campus, Timber Factory, secures preliminary building permit. UBM and ARE Austrian Real Estate's 28,000-sq.-meter timber-hybrid building will be 'sustainable and future-oriented', with climate-friendly energy
Wiener Borse (Alternative Disclosure) via PUBT (09/21)
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Building & Construction Use
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Slow domestic PVC demand in Canada and US ongoing, while robust production levels lead to recovery in exports and higher manufacturer inventories, according to ACC data compiled by Vault Consulting
ICIS Chemical Business (CBNB Abstracts) (09/21)
Illinois-based Rensa Filtration acquires New York air filter manufacturers RP Fedder and Ontario-based APC Filtration to expand in healthcare, education, high-end manufacturing markets
Industry Intelligence Inc. (09/21)
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Building Products & Wood
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Birch plywood plays key role in sustainable growth of light commercial vehicle industry amid consumer behavior changes; Riga Wood Holland and commercial vehicle equipment supplier Brover partner to meet customer needs and environmental criteria
Latvijas Finieris (09/21)
Riga Technical University, birch plywood producer Latvijas Finieris strengthen cooperation in education and science; they will promote science-intensive solutions to future challenges, including innovations from wood as a renewable, biobased material
Latvijas Finieris (09/21)
GAF fulfills goal of repairing 500 rooftops in storm-impacted Gulf Region, trains community members in roofing through GAF Roofing Academy, in partnership with actor Anthony Mackie
GAF (09/21)
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Homebuilding
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Housing Starts
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CIBC: US housing starts below expectations in August, with single-family starts down 4% month-over-month and multifamily starts down 26%, but permits above estimate; builder confidence decreases due to high mortgage rates, shortage of construction workers
CIBC World Markets Inc. (09/21)
US privately‐owned housing starts in August were at seasonally adjusted annual rate of 1,283,000, down 11.3% from July and 14.8% year-over-year; building permits fell 2.7% annually to 1,543,000, housing completions up 3.8% to 1,406,000: Dep. of Commerce
U.S. Dept. of Commerce (09/19)
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Residential Construction & Real Estate
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Zacks: KB Home reports better-than-expected fiscal Q3 results, surpassing both earnings and revenue estimates for third quarter running; CEO notes steady demand in Q3, highlights its net orders, flexibility and affordability of Built to Order model
Zack's Commentary (09/21)
KB Home reported Q3 financial results with revenues of US$1.59B and diluted earnings per share of US$1.80; firm has repurchased 1.5M shares for US$82.5M, and the book value per share increased to US$48.29, net orders rose by 52% to 3,097
Business Wire (09/21)
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Multifamily Real Estate
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Commercial/multifamily mortgage debt outstanding increased by US$37.7B, or 0.8% to US$4.60T in Q2 over Q1; multifamily mortgage debt increased by US$26.4B, or 1.3% to US$2.03T: Mortgage Bankers Assn.
Mortgage Bankers Association (09/19)
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Homebuilding
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D.R. Horton promoted Paul J. Romanowski to President and CEO, appointed him to the Board of Directors, effective Oct. 1; David V. Auld to transition from current role as President, CEO to Executive Vice Chair, Michael J. Murray to continue to serve as COO
D.R. Horton Inc. (09/21)
New home prices in Canada increased 0.1% month-over-month in August, with prices up in 5 of 27 metro areas surveyed, down in 6 and unchanged in 16; new home prices decreased 0.9% year-over-year in August: Statistics Canada
Statistics Canada (09/21)
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Housing Affordability
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Median US rental price in August fell 0.6% year-over-year to US$1,752; rent was more affordable than buying a starter home in 47 of the 50 largest metros, up from 45 for the same time last year: Realtor.com
Realtor.com (09/21)
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New Homes
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Century Communities announces the grand opening of Stallion Run in Buda, Texas, offering single-family homes starting from low $300s; the community, near major highways, will have amenities including a pool and playground available in 2024
Century Communities Inc. (09/20)
Share of survey respondents that support policies that promote building more housing at 78%, but only 32% would feel positive about a new apartment complex in their neighborhood; 74% of homeowners support such policies compared to 80% of renters: Redfin
Redfin Corp. (09/20)
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Home Improvement/Furniture
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Home Improvement / Hardware Stores
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The Home Depot recognizes Leviton as 2023 Innovation Award winner for its Decora Edge light switch solution; runners-up include Ecolab, Glidden
The Home Depot Inc. (09/20)
Danavation announces installation of its Digital Smart Labels into first of more than 40 ACE Hardware locations in central US, six new small format installations in Mexico-based Impulsora; Impulsora distributes electrical and lighting equipment
Danavation Technologies Corp. (09/20)
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Lowe's Cos. Inc.
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Pella's popular Hidden Screen is now offered on Lifestyle Series double-hung wood windows, available exclusively at Lowe's
PR Newswire (09/19)
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Construction/Real Estate
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Commercial Construction & Real Estate
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Novo Nordisk Foundation plans to build a US$135.0M facility in Lyngby, Denmark, for the production of cell therapies for clinical trials; facility to be on Technical University of Denmark's Lyngby campus, with construction starting in 2024
Outsourcing-Pharma.com (09/21)
Micron could show construction sector to be as technologically advanced as semiconductor industry by choosing mass timber for New York State plant, says SUNY ESF expert; mass timber would deliver cost and time savings, and wellness benefits for employees
Spectrum News 1 (09/21)
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Industrial Construction / Real Estate
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US construction employment in August rose in 32 states and DC, declined in 15 states and unchanged in Montana, Oklahoma and Utah; California added the most construction jobs over the month, while Tennessee registered the largest decline: AGC of America
The Associated General Contractors of America (AGC of America) (09/20)
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Construction & Engineering
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New York City Economic Development Corporation launches NYC Mass Timber Studio to bolster local industry and knowledge around low-carbon, sustainable wood construction; selected teams can apply for US$25,000 grants to develop feasibility studies
States News Service (09/21)
Trane Technologies unveils Thermal Battery Storage-Source Heat Pump System, a first-of-its-kind solution to advance low-carbon heating in buildings
ENP Newswire (09/20)
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Mortgages / Home Financing
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Commentary: Baby boomers are big winners of Fed policies, as years of low interest rates boosted asset prices; meanwhile, younger generations 'can't finance anything' as they face brutal combination of inflation, higher costs for mortgages and other debts
Business Insider (09/21)
US 30-year fixed-rate mortgage averaged 7.19% as of Sep. 21, up from 7.18% a week ago; 30-year FRM averaged 6.29% a year ago: Freddie Mac
Federal Home Loan Mortgage Corp. (Freddie Mac) (09/21)
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Interest Rates
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Goldman Sachs pushes forecast for Fed rate cut to Q4 2024 from earlier estimate of Q2 2024, while Barclays sees cuts in Fed's last three 2024 meetings and Morgan Stanley expects first rate cut in March 2024
Reuters (09/21)
Federal Reserve keeps benchmark interest rate unchanged for the second time in past three meetings; policymakers expect to raise rates once more in 2023, and envision key rate to remain higher in 2024 than analysts had expected
Associated Press (09/21)
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Stock
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Latest: Sep, 21 2023
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Latest Value |
Prev |
Chg |
YOY Chg |
Home Improvement/Furniture |
Lowes Companies (LOW)
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210.61
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214.91
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-2.00%
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11.81%
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Watchlist |
Bluelinx (BXC)
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80.69
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82.78
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-2.52%
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23.19%
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Boise Cascade Co. (BCC)
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100.76
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99.82
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0.94%
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69.37%
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Builders Firstsource (BLDR)
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121.02
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127.16
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-4.83%
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113.78%
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Canfor Corp. (CFP.CA)
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17.65
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17.86
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-1.18%
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-17.48%
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Home Depot (HD)
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306.76
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310.86
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-1.32%
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12.96%
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Interfor (IFP.CA)
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20.06
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20.87
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-3.88%
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-26.90%
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JELD-WEN Holding Inc. (JELD)
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13.27
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13.44
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-1.26%
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39.10%
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Lousiana Pacific (LPX)
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56.70
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57.62
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-1.60%
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7.57%
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Lumber Liquidators (LL)
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2.98
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3.13
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-4.79%
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-57.85%
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Masonite International Corporation (DOOR)
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93.05
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93.26
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-0.23%
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28.20%
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Owens Corning (OC)
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134.73
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135.88
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-0.85%
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70.03%
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Saint-Gobain SA (SGO) :EPA
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57.94
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57.23
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1.24%
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46.24%
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Trex (TREX)
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63.21
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64.56
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-2.09%
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36.46%
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West Fraser Timber (WFG)
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70.87
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72.90
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-2.78%
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-5.75%
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West Fraser Timber (WFG.CA)
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95.77
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97.98
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-2.26%
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-5.42%
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Weyerhaeuser (WY)
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31.18
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31.75
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-1.80%
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4.07%
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